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Oct 9, 2024 | 
lexology.com | Robert Dedman |Simon Morris |Kushal Gandhi
IntroductionOn 2 October 2024, the Court of Appeal delivered a significant judgment in the case of Financial Conduct Authority v BlueCrest Capital Management (UK) LLP ([2024] EWCA Civ 1125). This decision addresses: (a) the scope of the Financial Conduct Authority's (FCA) powers under the Financial Services and Markets Act 2000 (FSMA) to impose redress requirements on an individual regulated firm; and (b) on the scope of the jurisdiction of the Upper Tribunal.
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Sep 10, 2024 | 
cms.law | Robert Dedman |Simon Morris |Kushal Gandhi
Court of Appeal Decision in Financial Conduct Authority v BlueCrest Capital Management: Implications for Regulated Firms09/10/2024IntroductionOn 2 October 2024, the Court of Appeal delivered a significant judgment in the case of Financial Conduct Authority v BlueCrest Capital Management (UK) LLP ([2024] EWCA Civ 1125). This decision addresses the scope of the Financial Conduct Authority's... Read moreAuthors Robert DedmanPartnerLondonSimon MorrisPartnerLondonKushal GandhiPartnerLondon
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Jul 9, 2024 | 
lexology.com | Robert Dedman |Dipesh Santilale
The Second Quarter of 2024 saw a series of publications by the Bank of England (BoE), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on potential risks the private equity (PE) sector poses to the regulated sector. This article draws out the key themes in these recent developments before examining what it means for those impacted, including PE firms, PE owned financial services businesses, and lenders.
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May 7, 2024 | 
cms.law | Robert Dedman |Dipesh Santilale
Analyse, Assess and Address – Regulatory focus on Private Equity05/07/2024The Second Quarter of 2024 saw a series of publications by the Bank of England (BoE), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on potential risks the private equity (PE) sector poses to the regulated sector. This article... Read moreAuthors Robert DedmanPartnerLondonDipesh SantilalePartnerLondon
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Mar 19, 2024 | 
lexology.com | Robert Dedman |James Dickie |Faye Ellis
HM Treasury (“HMT”) has launched a consultation (the “Consultation”) on improving the effectiveness of Money Laundering Regulations 2017 (“MLRs”). The Consultation follows HMT’s 2022 review of the UK’s anti-money laundering (“AML”) and counter-terrorist financing (“CTF”) regulatory and supervisory regime (the “2022 Review”), and the Economic Crime Plan 2023-26.
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Mar 6, 2024 | 
lexology.com | Robert Dedman |James Dickie |Faye Ellis
The Financial Conduct Authority (“FCA”) has sent a Dear CEO letter (the “Letter”) to Annex 1 Firms warning them about common failings found in their ability to prevent money laundering, terrorist financing and proliferation financing (hereafter “Financial Crime”). This forms part of the FCA’s enhanced monitoring of Annex 1 Firms in relation to their Financial Crime controls and its increasingly proactive approach in enforcing its regulatory expectations.
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Feb 28, 2024 | 
cms.law | Robert Dedman |Ricardo Plasencia
We're delighted to announce the launch of our third season of international webinars focusing on financial regulation, starting on 13 March 2024. Whether you are an in-house lawyer, compliance officer, financial analyst, risk manager, or any other professional concerned with maintaining the integrity of your organisation's financial practices, this series offers succinct 20-30 minute overviews of key industry trends and regulatory concerns across multiple jurisdictions.
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Nov 6, 2023 | 
lexology.com | Robert Dedman |Alison McHaffie |Emma Clark
IntroductionThe UK financial regulators are finally beginning to turn their minds in a serious way towards how they will supervise firms seeking to deploy artificial intelligence (AI) in an increasingly automated industry. In Discussion Paper 5/22 (DP5/22), the UK regulators split the AI lifecycle into three distinct stages: pre-deployment, deployment and recovery/redress. This briefing focuses on the matters firms should have in mind when in the pre-deployment phase.
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Oct 9, 2023 | 
lexology.com | Robert Dedman |Alison McHaffie |Emma Clark
The unexpected speed with which Artificial Intelligence (AI) has captured the public imagination – both in business and in private lives – has been staggering. And both the regulators and the regulatory system itself have struggled to keep up with the pace of change. In October 2022, the FCA and the PRA issued DP5/22, which sets out a high level framework for discussion of the evolving regulation of artificially intelligent systems.
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Sep 10, 2023 | 
cms.law | Robert Dedman |Alison McHaffie |Emma Clark
Pathways to progress: Board Oversight and Accountability in an Artificially Intelligent World09/10/2023IntroductionThe unexpected speed with which Artificial Intelligence (AI) has captured the public imagination – both in business and in private lives – has been staggering. And both the regulators and the regulatory system itself have struggled to keep up... Read moreAuthors Robert DedmanPartnerLondonAlison McHaffiePartnerLondonEmma ClarkPartnerLondon
