News & Insights

Help
1531 News Results

Financial Services Authority August 5, 2011 The proposed guidance relates to Remuneration Code (SYSC 19A) in the FSA Handbook. The FSA's revised Remuneration Code came into force on 1 January 2011, implementing the rules on remuneration contained in the EU Capital Requirements Directive (CRD3). The proposed 'Dear CEO' letters set out the FSA's plans for monitoring implementation of the Code during the coming remuneration round. In an annex to the letter, the FSA also published proposed guidance for consultation on three policy issues. (i) Definition of 'Code staff' - how to identify staff

August 5, 2011 The FSA has published finalised guidance in relation to the following: template for self-assessment of compliance with Remuneration Code (for firms in proportionality Tier 2); the Remuneration Code - Code staff list for Tier two firms; template for self-assessment of compliance with Remuneration Code; the Remuneration Code - Code staff list for Tier three and four firms; retention periods; guaranteed variable remuneration; and frequently asked questions on the Remuneration Code. Cross References Template for self-assessment of compliance with Remuneration Code (for firms in

Financial Services Authority August 15, 2011 The Upper Tribunal (Tax and Chancery Chamber) has directed the FSA to fine Michiel Weiger Visser £2 million and Oluwole Modupe Fagbulu £100,000 and ban them both from performing any role in regulated financial services for breaching Principle 1 of the FSA's Statements of Principle for Approved Persons and for engaging in market abuse. Visser was the CEO and Fagbulu CFO and compliance officer of Mercurius Capital Management Limited (" Mercurius "). Mercurius managed the hedge fund Mercurius International Fund (" the Fund ") which during the relevant

76 FR XXX (SEC Release Nos. 33-9257 / 34-65262 / IA-3271 / IC-29781 ) September 6, 2011 The SEC invited public comment on the development of a plan to retrospectively review its regulations. The comment request is a result of a recent Executive Order requiring "independent" agencies to reassess certain of their regulations. The SEC's release is also likely a reflection of increased attention of the significance of the regulators performing, or failing to perform, cost-benefit analyses on proposed regulations. On the other hand, it is not at clear that the SEC has the resources to conduct a

Investment Company Institute No-Action Letter September 12, 2011 The SEC Division of Investment Management granted no-action relief, under Advisers Act Rule 204-2(a)(18)(i)(B), for advisers to registered investment companies. The rule generally requires a registered adviser to keep a list of all government entities who invest in a registered investment company advised by the adviser . The letter provides no-action relief with respect to investments by government entities that may come through omnibus accounts in a way such that the government entity is unknown to the adviser, the relevant