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The UK’s Financial Conduct Authority (FCA) has published its Occasional Paper No. 9, setting out the results of the FCA’s research into how well customers understood structured products. The answer, according to the report, is not very well. The report found that, while investors’ expectations of growth in the FTSE were in line with the FCA’s assumptions, investors overestimated the likely returns on structured products based on the same indices. Click here to read…
On 28 January 2015, the Financial Conduct Authority (FCA) published the Memorandum of Understanding (MoU) which it entered into with the Information Commissioner’s Office (ICO) (dated 29 September 2014). The purpose of the MoU is to facilitate and provide a framework for co-operation and co-ordination between the two parties where there is an overlap between their roles and responsibilities under various acts, including inter alia the Financial Services and Markets Act 2000 (FSMA), the Data…
In 2014, there was an increase by 20 percent in open investigations by the UK’s Financial Conduct Authority (FCA). An increase that is speculated to be the result of the FCA’s new stricter regime, in comparison to its supposedly less confrontational predecessor, the FSA. Click here for the Reed Smith Client Alert to lean more about what this could mean for clients in the regulated financial services industry.…