Client Money Failings

BlackRock Investment Management (UK) Ltd fined more than £9.5m for failures relating to trust status letters

Incentives

New consultative guidance follows FSA review of 22 firms of which 20 had incentive schemes which increased the risk of mis-selling

CASS Proposals

Further changes to CASS regime proposed including changes required by EMIR

Regulatory Reform

FSA consultation paper on procedural and Handbook changes which firms may wish to note