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US: Applicability of business judgment rule to bank officers to be considered by Supreme Court of Georgia
As the UK Government shapes, and reshapes, provisions in the Financial Services (Banking Reform) Bill to make individual accountability a reality for …
ASIC releases another report on retail structured products
ASIC has released Report 377 "Review of advice on retail structured products", which reports in relation to a sample of personal advice given to …
RDR in practice: FCA concerns that inducements may be undermining RDR objectives (Thematic Review and Guidance Consultation13/5)
The FCA has published findings from its recent thematic review into payments (and other benefits) by life insurers to advisory firms, which highlights …
New Hong Kong Trust Law to come into effect on 1 December 2013
On 17 July 2013, the Hong Kong Legislative Council passed the Trust Law (Amendment) Bill 2013, which will come into operation on 1 December 2013. …
UK: Changes to voluntary jurisdiction of the Financial Ombudsman Service
The Financial Ombudsman Service (FOS) has published a feedback statement on its consultation on proposed amendments to the scope of its voluntary …
EU: 22 July 2013 is here, so what happens now? Managers transition into the new regulatory landscape of the AIFMD
In some respects the wait is over. It is 22 July 2013, the date for the national transposition of the Alternative Investment Fund Managers …
US SEC lifts general solicitation ban for Rule 144A and Rule 506 offerings
The US Securities and Exchange Commission has adopted final rules eliminating the prohibition on general solicitation and general advertising in Rule …
UK: Liability for payment of abort fees - construction of contract
A recent case holding a company liable to pay an abort fee under an engagement letter with an investment bank after the company's proposed listing on AIM …
UK: FCA to exclude Venture Capital Trusts from restrictions on promotion of UCIS?
The Economic Secretary to the Treasury has confirmed that the Financial Conduct Authority (FCA) is working towards publishing its final policy statement …
UAE: Funds Regulation update: recent amendments and the new Reverse Enquiry Declaration
On 13 March 2013, the Securities and Commodities Authority of the UAE ("SCA") issued Board Resolution No.13 of 2013 amending Resolution No.37 of …
UK: FSA statement on CP12/19: restrictions on the retail distribution of UCIS and close substitutes
The FCA has published an update on its approach to last August’s consultation on proposed restrictions to the marketing of unregulated collective …
FCA confirms bans on payments to platforms and cash rebates
The FCA has published its policy statement and final rules which confirm that it will ban (i) payments from product providers to platforms, and (ii) …
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