The Financial Conduct Authority (“FCA”) has changed its main telephone number for consumers from 0845 606 1234 to 0800 111 6768. The number is for Consumers (and people representing consumers) to call the FCA on 0800 111 6768 (freephone) or 0300 500 8082 from the UK, or +44 207 066 1000 from abroad. This number is answered Monday to Friday, 8am to 6pm, and Saturday from 9am to 1pm.
The FCA and PRA have been reviewing firms’ algorithmic trading activity and have issued supervisory publications. For firms solo-regulated by the FCA, please refer to the FCA publication. Firms regulated by the PRA and FCA should refer to both publications. Firms operating in wholesale markets increasingly use algorithms for a number of purposes across their trading activity. In particular, driven by the rise in electronic trading platforms and the increased availability of data, algorithms are now often used for making both execution and investment decisions. It is essential that key oversight functions, including compliance and risk management, keep pace with technological advancements.
The Financial Conduct Authority (“FCA”) have stated that compliance with the EU General Data Protection Regulation (“GDPR”) is now a board level responsibility, and that firms must be able to produce evidence to demonstrate the steps that they have taken to comply.
Under SM&CR proposals, only Senior Managers will appear on the FS Register; CF10As for Core and Limited Scope firms, CF28s, CF29s, and CF30s would not appear. FCA will consult on maintaining a central public record of these important individuals in FCA-regulated firms.
The FCA is consulting in CP18/4 on the EU Money Market Funds (“MMF”) Regulation, which came into force on 21 July 2017 and applies to new MMFs from 21 July 2018 and to existing MMFs from 21 January 2019. The FCA and the Treasury have identified areas of the UK regulatory framework that require changes.
The UK will become a 'third country' on 30 March 2019, unless a ratified withdrawal agreement establishes another date. The EC have issued two Notices to Stakeholders reminding managers of investment funds and investors of the legal repercussions which need to be considered.