Considerations for Financial Services firms in relation to COVID-19
The FCA expects financial services firms to take all reasonable steps to continue to meet their regulatory obligations, and to have sufficient contingency plans in place to continue to operate their business and service clients (where relevant) in emergency scenarios, such as in the event of a widespread outbreak of COVID-19. The FCA’s statement is available here.
Regulated firms must have appropriate systems, resources and procedures in place to ensure continuity in the performance of their regulated activities. Key business continuity planning (BCP) rules are contained in SYSC 4.1.6 of the FCA Handbook and apply to most regulated firms.
Factors to consider for effective BCP include resource requirements (people and assets), firm operations, internal and external communications, escalation and invocation plans, processes to validate the integrity of information affected by any disruption, and regular testing of BCP policies.
A firm’s BCP planning and related systems, resources and procedures to cope with emergency scenarios should be proportionate to the nature and scale of their business i.e. large banks will be expected to have more extensive systems and controls in place than small businesses.
Diversity and Inclusion: Clear transparency?
This article focuses on the published its Consultation Paper on diversity and inclusion on company boards and executive committees in July.
Charles Russell Speechlys advises FairXchange on investment from United Fintech
FairXchange was founded in 2016, to bring clarity and transparency to execution performance through the provision of independent data.
Mandatory climate-related disclosures coming soon
On 28 October 2021, the government published its response to its consultation on mandatory climate-related disclosures.
Will JP Morgan’s digital only Chase launch shake up the UK retail banking sector?
Chase is JP Morgan’s consumer brand and is one of the largest retail banks in the United States with over 4,700 branches.
Who? Where? What on earth is an “NFT”!?
An NFT is a “Non-Replaceable Token” meaning only one of its type can ever be created and recorded on the blockchain it is connected to.
How does the FCA Cryptoasset AML/CTF Regime affect UK cryptoasset businesses?
With the notable exception of security tokens, the majority of cryptoassets remain unregulated in the United Kingdom.
Charles Russell Speechlys wins best Legal Services: Private Equity at the Africa Global Funds Awards 2021
We are delighted to announce we have been awarded the Legal Services: Private Equity award at the AGF Service Providers Awards 2021.
Charles Russell Speechlys advises Silbury Finance on a £55m facility to a Jersey unit trust
Silbury provides real estate development finance for professional developers seeking to acquire and build in the UK.
The role of IFCs in the post-Brexit environment
International Financial Centres (“IFCs”), are now on a level playing field with the UK when approaching the EU market.
Taxation of asset holding companies in alternative fund structures - draft legislation published
The draft legislation is in respect of the much anticipated new regime for asset holding companies.
Africa Global Funds Webinar: Due Diligence for PE Funds in Africa
Victoria Younghusband joined the panel discussing the challenges around due diligence for funds in Africa.
Charles Russell Speechlys bolsters funds capabilities with the hire of Edyta Brozyniak as Partner
Edyta advises on fund formation of private equity and venture capital funds, co-investments, and investor negotiations.
Charles Russell Speechlys Africa Team advises Ascent Rift Valley Fund II
ARVF II will invest equity in leading small and medium-sized enterprises (SMEs) in Eastern Africa.
Charles Russell Speechlys advises Waverton on acquisition of Cornerstone Asset Management
Established in July 2010 and with offices in Edinburgh and Glasgow, Cornerstone offers wealth management and financial planning advice.
InvestAfrica: Checking in or Checking out? Financing Africa’s Hotels in 2021
The discussion examined the strategies investors and financial institutions can implement to mitigate the effects of the pandemic.
Charles Russell Speechlys continues international expansion with the hire of four new partners
We are delighted to announce the hire of four new partners across four of our offices.
Jessica Arrol Caws
FCA reminds firms that the fight against market abuse continues during lockdown – can you demonstrate that your policies are fit for purpose in a home working environment?
The fight against market abuse continues during lockdown – can you demonstrate that your policies are fit for purpose?
Public Company Update - November 2020
The November 2020 edition of our biannual Public Company Update.
European Single Electronic Format (ESEF) reporting
We take a closer a look at delays to ESEF electronic annual financial reporting implementation.
Climate-related financial disclosures for premium listed commercial companies
Reviewing the UK Government’s Green Finance Strategy and its proposals for a new climate-related disclosure rule for premium listed issuers.