On 13 February 2024, the FCA issued a Final Notice to Floris Jakobus Huisamen, the former director and compliance officer of London Capital & Finance plc (LCF), fining him GBP 31,800 and banning him from working in financial services in relation to misconduct connected to financial promotions issued by LCF. This Final Notice follows the FCA’s previous censure of LCF in October 2023 for connected behaviour. In this alert we draw out the key takeaways that compliance officers should bear in mind from the FCA’s enforcement action.

On 13 February 2024, the FCA issued a Final Notice to Floris Jakobus Huisamen, the former director and compliance officer of London Capital & Finance plc (LCF), fining him GBP 31,800 and banning him from working in financial services in relation to misconduct connected to financial promotions issued by LCF. This Final Notice follows the FCA’s previous censure of LCF in October 2023 for connected behaviour. In this alert we draw out the key takeaways that compliance officers should bear in mind from the FCA’s enforcement action.

We are pleased to share with you our annual briefing looking at financial services regulation and enforcement in 2024, “What does 2024 hold? Key upcoming developments and enforcement trends”.

With Brexit and the pandemic firmly in the rear-view mirror, and the geopolitical ebb-and-flow settling into a somewhat more stable – if preciously perched – pattern, regulators around the world have turned their attention to less reactive, more forward-looking actions. Our London Financial Institutions Regulatory and Enforcement experts explore the key developments and trends expected to dominate the regulatory landscape this year.

The Economic Crime and Corporate Transparency Act 2023 received Royal Assent on 26 October 2023. The Act is a landmark development in the UK Government’s long-standing efforts to enhance the UK’s economic crime enforcement framework, and the Act introduces a number of important measures designed to improve corporate transparency and tackle economic crime in the UK
and abroad.

In brief The UK’s Financial Conduct Authority (FCA) plays a key role in monitoring how UK-regulated financial institutions guard against financial crime risks, and how effectively they implement financial crime policies and procedures. In recent months, as the UK and other governments have placed increasing focus on preventing the circumvention…

Baker McKenzie are pleased to share with you their annual briefing looking at financial services regulation and enforcement in 2023, “What does 2023 hold? Key upcoming developments and enforcement trends”. The London Financial Institutions Regulatory and Enforcement experts explore the key developments and trends expected to dominate the regulatory landscape this year.

Following the Treasury’s confirmation that it intends to introduce a new “regulatory gateway” for authorized firms approving financial promotions, the FCA has launched a consultation on proposals to operationalize this new gateway. Complementing a wider program of reform to the financial promotions regime, the proposals will affect both authorized firms approving financial promotions as well as unauthorized firms communicating approved financial promotions.

This virtual seminar series provides insights on how the regulatory landscape is changing and discuss the future of crypto within the financial services sector. Recordings of the following sessions are now available — The Crypto Ecosystem; Integrating Crypto into Established Financial Services (Part 1: Funds and Listings and Part 2: Practical Considerations); Crypto Risk: Significant Legal and Regulatory Risks; A Deep Dive into NFTs; and DeFi (Decentralized Finance).

The speed and volume of change in the crypto asset markets has accelerated across the globe, with established financial institutions increasingly entering the sector whilst regulators look to keep pace. Recent high-profile developments and market volatility have led to growing calls for scrutiny and regulatory controls. Navigating this fast paced environment, within a sometimes disjointed regulatory framework, can be challenging. The Crypto Boot Camp 2022 Series covers the crypto ecosystem and integrating crypto into established financial systems (recordings available), crypto risk (3 November 2022), NFTs (15 November 2022), DeFi (1 December 2022), and Growth in Crypto (6 December 2022).

The speed and volume of change in the crypto asset markets has accelerated across the globe, with established financial institutions increasingly entering the sector whilst regulators look to keep pace. Recent high-profile developments and market volatility have led to growing calls for scrutiny and regulatory controls. Navigating this fast paced environment, within a sometimes disjointed regulatory framework, can be challenging.
This virtual seminar series will provide insights on how the regulatory landscape is changing and discuss the future of crypto within the financial services sector. Set out below are details of our 2022 series.