Regulation round-up February 2017

Regulation round-up is our monthly email to all regulated firms, updating you on the latest news that affects your sector.

Read or download the full Regulation round-up: February 2017

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Introduction: Megan Butler, Director of Supervision

Welcome to the February edition of Regulation round-up. I want to take this opportunity to highlight our recent supervisory work on practices of firms when acquiring clients from other firms.

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Hot topic: Competition - a catalyst for change?

Mary Starks, Director of Competition, explains how competition can help markets work better for consumers. She discusses how competition can drive better quality, value and choice, as well as encourage innovation. But competition also brings challenges, and Mary looks at some of the implications for firms.

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Hot topic: Competition law concerns involving syndicated lending firms

In August 2016, through market intelligence, we uncovered evidence suggesting potential competition law infringements by firms engaged in syndicated lending. The potential infringements related to disclosures or exchanges of competitively sensitive information relating to the terms and conditions of such lending. We engaged with the firms by way of formal 'on notice' letters, which has resulted in firms undertaking several initiatives to strengthen their competition law compliance, including more robust training for market facing staff. 

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In your sector…

Banks and building societies

Payment Protection Insurance (PPI) update 

Web page update: Revised Payments Services Directive (PSD2)

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Investment managers and stockbrokers

DP: Illiquid assets and open-ended investment funds

Insight article: Corporate bond liquidity

CP & DP: Review of the Effectiveness of UK Primary Markets 

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Financial advisers

Live & Local: North West

Acquiring clients from other firms

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Wealth managers and private banks

DP: Illiquid assets and open-ended investment funds

Insight article: Corporate bond liquidity

CP & DP: Review of the Effectiveness of UK Primary Markets

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Mortgage advisers

Live & Local: North West

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Insurers & insurance intermediaries

Live & Local: North West

CP: Proposed Handbook changes to reflect the new regulatory framework for Insurance Linked Securities (ILS)

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Read or download the full Regulation round-up: February 2017

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