Introduction to the legal framework for the regulation of payment systems in the UK
|
|
- Simon Dickerson
- 8 years ago
- Views:
Transcription
1 Mark Friend 10 November 2015 Introduction to the legal framework for the regulation of payment systems in the UK
2 Agenda The legal basis for payment systems regulation What are payment systems? The PSR s regulatory jurisdiction The PSR s remit Concurrency Penalties and appeals Allen & Overy 2015 *
3 The legal basis for payment systems regulation
4 The regulatory architecture of the PSR differs from other utility models Interbank payment systems PSR Card payment systems Bacs Cheque & Credit CHAPS Faster Payments Scheme LINK Northern Ireland Cheque Clearing economic regulator (with concurrent competition law powers) of HMT-designated regulated payment systems MasterCard Visa Europe HMT designates when deficiencies in the design of the system, or disruption in its operation, would be likely to have serious consequences for users of services provided by the system
5 What are payment systems?
6 What do we mean by a payment system? Arrangements for physical movement of cash A system operated by one or more persons in the course of business Systems that don t allow transfers of funds in the UK For the purpose of enabling persons to make transfers of funds Securities settlement systems Includes a system designed to facilitate transfer of funds using another payment system Systems operated by a recognised clearing house Systems that don t have as their primary purpose enabling transfers of funds
7 The PSR's regulatory jurisdiction
8 The PSR has a very broad range of powers Rules Require establishment of rules or change them Notify PSR of changes Prior PSR approval Directions Access Operator direct access Payment services provider indirect access Divestments Person with interest in operator All or part of interest Requires HMT consent Participants operator, infrastructure provider, payment service provider Positive or negative General, specific description, specified Varying agreements Between operator and payment service provider Providing for indirect access Concerning fees or charges
9 The PSR has issued a series of general directions and one specific direction GD1 Participants in regulated payment systems GD2 Bacs, CHAPS, C&C, Faster Payments GD3 LINK, MasterCard, VISA GD4 GB inter-bank systems GD5 GB inter-bank systems GD6 GB inter-bank systems Deal with the PSR in an open and cooperative way Disclosure obligation Access requirements: objective, risk-based, public disclosure Access requirements: public disclosure Appropriate representation of service user interests in governing body s decision-making Prohibition on directors also being director of a central infrastructure provider Publish minutes of governing body Barclays, HSBC, Lloyds, RBS Publish information on sponsor bank access services
10 The PSR's remit
11 The PSR must exercise its general functions in a way which advances one of its payment systems objectives Competition Financial stability Regulatory principles Serviceuser Innovation Objectives extend beyond designated payment systems No hierarchy
12 Concurrency
13 Concurrency: the PSR has a choice of routes 1. CA98 toolkit 2. Regulatory powers Market studies Strict time limit (6 months for notice of proposed decision; 12 months for final report) Broad powers of intervention including FSBRA powers 1 2 Market reviews No statutory time limit Broad powers of intervention under FSBRA
14 Penalties and appeals
15 Penalties and appeals Penalties no upper limit on level of penalties The appeals regime is complex CAT merits review CAT judicial review CMA hybrid review Third party appeals payment system will have very limited rights in proceedings
16 Questions? These are presentation slides only. The information within these slides does not constitute definitive advice and should not be used as the basis for giving definitive advice without checking the primary sources. Allen & Overy means Allen & Overy LLP and/or its affiliated undertakings. The term partner is used to refer to a member of Allen & Overy LLP or an employee or consultant with equivalent standing and qualifications or an individual with equivalent status in one of Allen & Overy LLP s affiliated undertakings.
Decision on the CMA s review of the Credit Cards (Merchant Acquisition) Order 1990
Decision on the CMA s review of the Credit Cards (Merchant Acquisition) Order 1990 Contents Page Summary... 1 Introduction... 2 Background... 4 Monitoring activity... 7 Market developments... 7 Stakeholder
More informationPayment Systems Regulation Call for Inputs. 5 March 2014
Payment Systems Regulation Call for Inputs 5 March 2014 Contents 1 OVERVIEW... 3 Introduction... 3 2 BACKGROUND... 4 What is a payment system?... 4 The Payment Systems Regulator... 5 Who will the PSR affect?...
More informationDesignation of payment systems: response to the consultation
Designation of payment systems: response to the consultation March 2015 Designation of payment systems: response to the consultation March 2015 Crown copyright 2015 This publication is licensed under
More informationA new regulatory framework for payment systems in the UK
TM Policy Statement A new regulatory framework for payment systems in the UK Foreword I am delighted to be publishing this Policy Statement today for UK payment systems. This Policy Statement is a first
More informationAccess to payment systems
TM Supporting Paper 4 PSR CP14/1.4 Access to payment systems November 2014 This Supporting Paper supports the PSR s Consultation Paper A new regulatory framework for payment systems in the UK. It specifically
More informationUK Payments & the Payments Systems Regulator
UK Payments & the Payments Systems Regulator 4 th December 2014 Sydney UK Payments is a game of two sectors APACS UK Payments Council Schemes & Operations Separation Payment float elimination Cheques elimination
More informationSpecial administration regime for payment and settlement systems: summary of responses
Special administration regime for payment and settlement systems: summary of responses November 2013 Special administration regime for payment and settlement systems: summary of responses November 2013
More informationPayment Systems Regulator
BRIEFING PAPER Number 06866, 25 February 2016 Payment Systems Regulator By Timothy Edmonds Inside: 1. Payment services in the UK 2. Establishing the Regulator 3. Regulatory activity www.parliament.uk/commons-library
More informationUK Payment systems. How regulation of UK payment systems could enhance competition and innovation
UK Payment systems How regulation of UK payment systems could enhance competition and innovation Part of the OFT's Programme of Work on Retail Banking July 2013 OFT1498 Crown copyright 2013 You may reuse
More informationRoyaume-Uni Cour suprême. United Kingdom Supreme Court
Colloque ACA Europe 15-17 Juin 2014 ACA Europe seminar 15-17 June 2014 Réponses au questionnaire sur la régulation économique Responses to the questionnaire on economic regulation Royaume-Uni Cour suprême
More informationA new regulatory framework for payment systems in the UK
TM Consultation Paper PSR CP14/1 A new regulatory framework for payment systems in the UK November 2014 A new regulatory framework for payment systems in the UK PSR CP14/1 Foreword Payment systems are
More informationKnowledge. Practical guide to competition damages claims in the UK
Knowledge Practical guide to competition damages claims in the UK Practical guide to competition damages claims in the UK Contents Reforms to damages litigation in the UK for infringements of competition
More informationCOMMERCIAL BANKING CARDNET VIEW. A new series of webinars helping businesses navigate the changing payments landscape
COMMERCIAL BANKING CARDNET VIEW A new series of webinars helping businesses navigate the changing payments landscape INTRODUCTION SETTING THE SCENE Businesses, customers and banks have entered a new world
More informationThis document explains the service you are being offered and how you will pay for it.
CLIENT AGREEMENT This document explains the service you are being offered and how you will pay for it. 1. Commencement date This Client Agreement comes into effect on the date you receive it from us. 2.
More informationRetail Client Agreement Investment, Insurance and Mortgage Services
Retail Client Agreement Investment, Insurance and Mortgage Services Lewis Investment 41 Commercial Road Poole Dorset BH14 0HU 1. Introduction The purpose of this agreement is to set out the basis on which
More informationCode of Conduct for Indirect Access Providers
Code of Conduct for Indirect Access Providers Version 1.0 (interim) August 2015 Contents 1 Introduction. 3 1.1 Background to the Code... 3 1.2 About the Code... 3 1.3 In-Scope Payment Systems... 4 1.4
More informationFinancial Services (Banking Reform) Act 2013
Financial Services (Banking Reform) Act 2013 CHAPTER 33 26.75 Financial Services (Banking Reform) Act 2013 CHAPTER 33 CONTENTS PART 1 RING-FENCING Ring-fencing 1 Objectives of Prudential Regulation Authority
More informationClient Agreement Mortgages, Equity Release and Protection Planning
Client Agreement Mortgages, Equity Release and Protection Planning 1. INTRODUCTION This agreement sets out the terms under which our services are to be provided, including details of the specific services
More informationFinancial collateral arrangements and the financial markets
European Bank for Reconstruction and Development SECURED LENDING IN COMMERCIAL TRANSACTIONS TRENDS AND PERSPECTIVES 4-5 November 2013, EBRD Headquarters, London Financial collateral arrangements and the
More informationFinancial Services Act 2010
Financial Services Act 2010 CHAPTER 28 CONTENTS Objectives of FSA etc 1 Financial stability objective 2 Enhancing public understanding of financial matters etc 3 Meeting FSA s regulatory objectives Remuneration
More informationUK Payments Infrastructure: Exploring Opportunities
UK Payments Infrastructure: Exploring Opportunities 31 August 2014 www.kpmg.co.uk Table of figures Figure 1: Current UK payments infrastructure overview.... 9 Figure 2: UK payment schemes, infrastructure
More informationWe have three statutory objectives that underpin everything we do. In summary these are:
The Payment Systems Regulator is the economic regulator for the 75 trillion payment systems industry in the UK. Our purpose is to make payment systems work well for those that use them. We have three statutory
More informationCyber Security : preventing and mitigating incidents. Alexander Brown Robert Allen
Cyber Security : preventing and mitigating incidents Alexander Brown Robert Allen 07 & 08 October 2015 Cyber Security context of the threat The magnitude and tempo of [cyber security attacks], basic or
More information1. Introduction. The laws of any jurisdiction other than England & Wales Taxes or duties Financial investment.
1. Introduction 1.1 This document, together with our Engagement Letter, explains the basis upon which we work for you. These two documents constitute the contract between you and The Law House. In the
More informationCompetition litigation
FINANCIAL INSTITUTIONS ENERGY INFRASTRUCTURE, MINING AND COMMODITIES TRANSPORT TECHNOLOGY AND INNOVATION PHARMACEUTICALS AND LIFE SCIENCES Competition litigation in the UK Class act Competition litigation
More informationThompson Jenner LLP Last revised April 2013 Standard Terms of Business
The following standard terms of business apply to all engagements accepted by Thompson Jenner LLP. All work carried out is subject to these terms except where changes are expressly agreed in writing. 1
More informationClient Agreement Mortgages and Protection Planning
Client Agreement Mortgages and Protection Planning 1. INTRODUCTION This agreement sets out the terms under which our services are to be provided, including details of the specific services and a summary
More informationJones Harris Chartered Financial Planning Ltd Terms of Business Letter and Services and Fee Agreement
Jones Harris Chartered Financial Planning Ltd Terms of Business Letter and Services and Fee Agreement The FSA is the independent watchdog that regulates financial services. This document has been designed
More informationGUIDE TO PROCEEDINGS 2015
GUIDE TO PROCEEDINGS 2015 CONTENTS PAGE GLOSSARY... ix PRACTICE DIRECTION... 1 PREFACE... 2 INTRODUCTION TO THE GUIDE... 3 SECTION 1: THE TRIBUNAL... 5 The constitution of the Tribunal... 5 The Registrar...
More informationINTRODUCTION TO THE DIFC. 42 countries Population of 2.2 billion people Combined economy US$ 2.5 trillion
DIFC Companies Law INTRODUCTION TO THE DIFC 42 countries Population of 2.2 billion people Combined economy US$ 2.5 trillion DIFC Region Financial Free Zone 100 percent foreign ownership; Zero percent tax
More informationClient Agreement. Investment, Protection and Financial Planning
Page 1 of 10 Client Agreement Investment, Protection and Financial Planning 1. INTRODUCTION This agreement sets out the terms under which our services are to be provided, including details of the specific
More informationEclipx Group Limited Securities Trading
Eclipx Group Limited Securities Trading Date approved: 26 March 2015 SECURITIES TRADING ECLIPX GROUP LIMITED (THE COMPANY) 1. Introduction and Purpose 1.1 Background This Securities Trading Policy (Policy)
More informationCORPORATE MEMBERS OF LIMITED LIABILITY PARTNERSHIPS
1. INTRODUCTION CORPORATE MEMBERS OF LIMITED LIABILITY PARTNERSHIPS 1.1 This note, prepared on behalf of the Company Law Committee of the City of London Law Society ( CLLS ), relates to BIS request for
More informationPremier Protection Client Service. Master Agreement
Premier Protection Client Service Master Agreement Premier Protection Client Service Master Agreement Important: We must receive requests to use the Premier Protection Client Service in writing during
More informationCPSS-IOSCO SELF-ASSESSMENT PUBLIC DISCLOSURE FOR FASTER PAYMENTS SCHEME LIMITED (FPSL) 2014
Faster Payments Scheme Limited 2 Thomas More Square London E1W 1YN CPSS-IOSCO SELF-ASSESSMENT PUBLIC DISCLOSURE FOR FASTER PAYMENTS SCHEME LIMITED (FPSL) 2014 Responding institution: Jurisdiction: Authority
More informationThe Scottish Investment Trust PLC
The Scottish Investment Trust PLC INVESTOR DISCLOSURE DOCUMENT This document is issued by SIT Savings Limited (the Manager ) as alternative investment fund manager for The Scottish Investment Trust PLC
More informationInsolvency practitioner regulation regulatory objectives and oversight powers
Insolvency practitioner regulation regulatory objectives and oversight powers Legislative changes introduced on 1 October 2015 December 2015 1 Contents Introduction Part 1: Overview of regulatory objectives
More informationBerry Insurance Brokers
Berry Insurance Brokers Terms of Business - Personal Insurance F Berry (Leyland) Ltd trading as Berry Insurance Brokers,149 Towngate, Leyland, Preston, Lancashire, PR25 2LH is an independent broker. We
More informationSmall Business, Enterprise and Employment Bill: Access to Finance fact sheets
Small Business, Enterprise and Employment Bill: Access to Finance fact sheets Contents Small Business, Enterprise and Employment Bill: Access to Finance fact sheets... 1 Contents... 1 Invalidating restrictive
More informationJPR INSURANCE BROKERS LIMITED TERMS OF BUSINESS AGREEMENT (TOBA)
1. Please read this document carefully. JPR INSURANCE BROKERS LIMITED TERMS OF BUSINESS AGREEMENT (TOBA) It sets out the terms on which we agree to act for our clients and contains details of our regulatory
More informationHow to open a bank account for International students. www.northumbria.ac.uk
How to open a bank account for International students Which bank? We cannot recommend one bank in particular so please check out a few banks before making a decision. HSBC, Barclays, Halifax, Lloyds, TSB,
More informationUNIVERSITY OF SHEFFIELD ENTERPRISE
UNIVERSITY OF SHEFFIELD ENTERPRISE TIER 1 (GRADUATE ENTREPRENEUR) APPLICATION FORM Enterprise is having ideas and doing something about them. It is making ideas happen. Page 1 of 9 JG 16/04/2015 Information
More informationRTGS operating hours review
RTGS operating hours review November 2014 Executive Summary 1. As settlement agent for the main sterling payment systems, the Bank of England operates the UK s Real Time Gross Settlement infrastructure
More informationSending money home? If you want to send money to South Africa from the UK, there are a range of products and services to choose from.
May 2006 Sending money home? UK to SOUTH AFRICA If you want to send money to South Africa from the UK, there are a range of products and services to choose from. The UK Government and Finmark Trust have
More information2015 UK Payment Statistics. Key statistics on the UK payment clearings, cash, card payments and payment markets
2015 UK Payment Statistics Key statistics on the UK payment clearings, cash, card payments and payment markets The following companies contributed to the data within this publication. More details of referenced
More informationMortgages, Equity Release and Protection Planning
Page 1 of 6 Client Agreement Mortgages, Equity Release and Protection Planning 1. INTRODUCTION This agreement sets out the terms under which our services are to be provided, including details of the specific
More informationTrue Bearing Chartered Financial Planners Terms of Business
True Bearing Chartered Financial Planners Terms of Business The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services. This document has been designed to be given
More information14th April 2014. From PAYMENTS SYSTEMS REGULATION CALL FOR INPUTS
14th April 2014 Craig.Tillotson@fasterpayments.org.uk To From The Financial Conduct Authority 25 The North Colonnade Canary Wharf London E14 5HS Craig Tillotson Managing Director Faster Payments Scheme
More informationCampbell & McConnachie Terms of Business Letter
Campbell & McConnachie Terms of Business Letter This is our supplementary client agreement which should be read in conjunction with the Key Facts about our services and costs document which was provided
More informationCHAPS Market Report 2015
Market Report 205 Market Report 205 0 Introduction 2 Overview 4. Key Statistics 4.2 Value Breakdowns by Market and Country 4.3 Drivers of CHAPS Use 5.4 CHAPS Forecasts 6 2 CHAPS Markets 7 2. Wholesale
More informationAn introduction to European employment law for Japanese companies
Acquisitions issues to expect Employing staff in Europe An introduction to European employment law for Japanese companies For Japanese companies encountering the European employment law system for the
More informationAustin Suite Business & Innovation Centre Sunderland SR5 2TA
TERMS OF ENGAGEMENT Investment Mortgage Protection Financial Planning WJR Financial Solutions Limited Austin Suite Business & Innovation Centre Sunderland SR5 2TA 06/2015 V1.1 1. Authorisation Statement
More informationPROPERTY CASUALTY INSURANCE REGULATION IN THE UNITED KINGDOM. Richard Spiller, Esq. 011 44 171 556 4541. Introduction
PROPERTY CASUALTY INSURANCE REGULATION IN THE UNITED KINGDOM This article considers: Richard Spiller, Esq. 011 44 171 556 4541 Introduction 1. What activities by an overseas insurer amount to the carrying
More informationHow To Understand The New Financial Regulations In European Law
Seventh Annual MIG seminar: The Impact of MiFID II and EMIR on Commodities Hannah Meakin (Partner) and Cat Blake (Associate) 5 March 2014 Overview MiFID II: What are financial instruments? Additions and
More informationLoss adjuster/loss assessor Bank/Building Society Consultancy Legal
Once you have read the notes on completing your application, you can either: phone through your order to Customer Service on the dedicated IATA/CII number +44 (0)20 8989 8464 ensuring that you have your
More informationGeneral Conditions for Bank of Cyprus UK CharityBonds (April 2013)
General Conditions for Bank of Cyprus UK CharityBonds (April 2013) Bank of Cyprus UK Limited ( we/our/us ), trading as Bank of Cyprus UK, incorporated in England and Wales as company number 04728421, a
More informationMortgages, Equity Release and Protection Planning
Page 1 of 7 Client Agreement Mortgages, Equity Release and Protection Planning 1. INTRODUCTION This agreement sets out the terms under which our services are to be provided, including details of the specific
More informationMortgages, Equity Release and Protection Planning
apr Client Agreement Mortgages, Equity Release and Protection Planning 1. INTRODUCTION This agreement sets out the terms under which our services are to be provided, including details of the specific services
More informationModels of Governance for Private Colleges
Models of Governance for Private Colleges Professor Steve Bristow UK NARIC Annual Conference 2015 Fulfilling our Potential: Teaching Excellence, Social Mobility and Student Choice, November 2015 Jo Johnson
More informationCredit Union Liability with Third-Party Processors
World Council of Credit Unions Annual Conference Credit Union Liability with Third-Party Processors Andrew (Andy) Poprawa CEO, Deposit Insurance Corporation of Ontario Canada 1 Credit Union Liability with
More informationpayroll services BUSINESS SERVICES AND ACCOUNTING
payroll services BUSINESS SERVICES AND ACCOUNTING payroll services How effective is the operation of your payroll? Are you up to date on your regulatory requirements? BDO s Payroll Team helps clients negotiate
More informationHow To Use A Caf Bank
CAF Bank features and benefits Thank you for choosing CAF Bank for your everyday banking needs. If you have any questions please do not hesitate to call our Customer Services team on 03000 123 456. About
More informationDomestic Actuarial Regime and Related Governance Requirements under Solvency II
Domestic Actuarial Regime and Related Governance Requirements under Solvency II Response to Central Bank of Ireland Consultation Paper (CP 92) May 2015 1 Section 1: Introduction 1.1 Towers Watson is a
More informationPremier Professional
Premier Professional Taxwise Premier Professional Important: This is a claims made insurance, which means we must receive claims during the period of insurance. This Policy insures you. Your clients have
More informationAn introduction to European employment law for Korean companies
Acquisitions issues to expect Employing staff in Europe An introduction to European employment law for Korean companies For Korean companies encountering the European employment law system for the first
More informationDiageo plc. Postal Share Dealing Service
Diageo plc Postal Share Dealing Service In Association with STOCKTRADE A Division of Brewin Dolphin Securities Ltd Authorised and Regulated by the Financial Services Authority Please note that the share
More informationSummary. Key business impacts. Key business impacts. Trading venues. Product intervention commodity derivatives
Key business impacts Trading venues Product intervention MiFID 2: commodity derivatives Summary The Markets in Financial Instruments Directive (MiFID) required member state implementation by 1 November
More informationCLIENT TERMS OF BUSINESS AGREEMENT
CLIENT TERMS OF BUSINESS AGREEMENT General Information Seascope Insurance Services Limited (SIS) is an independent Lloyd s broker and is not tied to any one insurer. SIS has received a Grant of Permission
More informationCIPS Chartered Status Assessment Terms and Conditions (v1.0 12.01.15)
CIPS Chartered Status Assessment Terms and Conditions (v1.0 12.01.15) This page (together with the documents referred to on it) tells you ( you means the party contracting with CIPS) the terms and conditions
More informationTaxwise Premier Protection Important: This is a claims made insurance, which means we must receive claims during the period of insurance.
Premier Protection Taxwise Premier Protection Important: This is a claims made insurance, which means we must receive claims during the period of insurance. The Policy Schedule, Contract, Practice Profile
More informationWHITE PAPER. Faster Payments A Vision for a New Access Model. Opportunities for Payment Service Providers and Solution Vendors
WHITE PAPER Faster Payments A Vision for a New Access Model Opportunities for Payment Service Providers and Solution Vendors 8 December 2014 FOREWORD It is six years since Faster Payments was launched
More informationSME Banking Behavioural Undertakings
SME Banking Behavioural Undertakings 1 Title of report: The supply of banking services by clearing banks to small and medium-sized enterprises (MMC Cmnd 5319) 2 Published: 14 March 2002 3 Orders: N/A 4
More informationCertificate/Diploma/Advanced Diploma in Insurance Application form
Once you have read the notes on completing your application, you can either: complete and submit your application online at www.cii.co.uk/qualifications phone through your order to Customer Service on
More informationCONSULTATION PAPER NO 2. 2004
CONSULTATION PAPER NO 2. 2004 REGULATION OF GENERAL INSURANCE MEDIATION BUSINESS This consultation paper explains the need for the Island to regulate general insurance mediation business and examines the
More informationA Consultative Paper on the Company Officers Disqualification Bill 2007. 16 October 2007
A Consultative Paper on the Company Officers Disqualification Bill 2007 16 October 2007 CONTENTS Page No. Section 1 Introduction 2 Section 2 Summary of contents of the draft Bill compared with current
More informationUnited Kingdom Competition Network (UKCN) Statement of Intent
United Kingdom Competition Network (UKCN) Statement of Intent 1. The statutory basis for the UKCN The Enterprise and Regulatory Reform Act 2013 (ERRA13) was enacted in April 2013. The Act creates the Competition
More informationCLIENT AGREEMENT CLIENT AGREEMENT VERSION 1.5.15
CLIENT AGREEMENT VERSION 1.5.15 CLIENT AGREEMENT Chadney Bulgin is authorised and regulated by the Financial Conduct Authority (FCA), FCA register number 483323. Contents 1. The Financial Conduct Authority
More informationHIM: HELLO! HER: HEY THERE, NICE TO SEE YOU! Annual Review 30 YEARS
HIM: HELLO! HER: HEY THERE, NICE TO SEE YOU! HIM: HELLO! HER: HEY THERE, NICE TO SEE YOU! Annual Review HIM: HELLO! HER: HEY THERE, NICE TO SEE YOU! HIM: HELLO! HER: HEY THERE, NICE TO SEE YOU! celebrating
More informationUnleashing the potential of Britain s financial wiring...
Unleashing the potential of Britain s financial wiring... PAYMENT POWER Jodie Ginsberg Demos is Britain s leading cross-party think tank. We produce original research, publish innovative thinkers and host
More informationFact Sheet Global Business
FS/GB01-14 March 2013 Fact Sheet Global Business Global Business in Mauritius Global Business (GB) is a regime available in Mauritius for resident corporations proposing to conduct business outside Mauritius.
More informationFPS RULES RULES FOR MEMBERS OF THE FASTER PAYMENTS SERVICE V7.0
FPS RULES RULES FOR MEMBERS OF THE FASTER PAYMENTS SERVICE V7.0 Dated: 8 November 2013 2013 Faster Payments Scheme Limited. No use of the Faster Payments Scheme Limited logo or branding is permitted without
More informationClient Agreement 1.9.14
Client Agreement This is our standard client agreement upon which we intend to rely. For your own benefit and protection you should read these terms carefully before signing them. If you do not understand
More informationInsurance Law Reforms and Requirements for Direct Offshore Foreign Insurers ("DOFIs")
Insurance Law Reforms and Requirements for Direct Offshore Foreign Insurers ("DOFIs") The Clayton Utz contact for this document is Fred Hawke, Partner Clayton Utz Lawyers Level 18 333 Collins Street Melbourne
More informationCOAG National Legal Profession Reform Discussion Paper: Trust money and trust accounting
COAG National Legal Profession Reform Discussion Paper: Trust money and trust accounting Purpose The purpose of this Paper is to outline the Taskforce s preferred approach to regulation of trust money
More informationTerms of Business. Murray & Spelman Ltd. Name: T/A Murray # Spelman Insurance & Finance. Name & Contact Details:
Terms of Business Murray & Spelman Ltd T/A Murray # Spelman Insurance & Finance Name & Contact Details: Name: Mr. Michael Culhane (Managing Director) Telephone Number: 091759500 Company Murray & Spelman
More informationWealth and Investment Management Intermediaries. International Business Tariff Gibraltar
Wealth and Investment Management Intermediaries International Business Tariff Gibraltar December 2014 International Business Tariff Gibraltar This tariff is applicable for accounts where the banking relationship
More information4. FINANCIAL PLANNING AND HOW WE CHARGE FOR IT
Client Agreement 1. INTRODUCTION This agreement sets out the terms under which our services are to be provided, including details of the specific services and a summary of our charges for those services.
More informationLitigated Issues in mergers and markets investigations: Access to Evidence
Litigated Issues in mergers and markets investigations: Access to Evidence James Webber Partner, Shearman & Sterling LLP 30 April 2015 Brief for today First an overview of the cases on access to evidence
More informationThe FSA s role under the Payment Services Regulations 2009
Financial Services Authority The FSA s role under the Payment Services Regulations 2009 Our approach January 2012 Preface The PSD Approach Document is aimed at helping firms navigate through the Payment
More informationProcedures for investigating alleged malpractice
Procedures for investigating alleged malpractice 1.1 Who can report suspected malpractice? Quality Assurance Officers, Independent Witness, Centre Course Managers, Tutor/Assessors, Internal Verifiers,
More informationGuidance Note on Outsourcing/Delegation of Functions
Guidance Note on Outsourcing/Delegation of Functions Supervision Division Financial Supervision Commission 7 May 2002 1 Introduction Guidance Note on Outsourcing/Delegation of Functions This Guidance applies
More informationManagement Liability Policy
TOTAL HEALTHCARE PROFESSIONALS Management Liability Policy Protecting you and your practice from risk Exclusive cover and advice to reduce your risks The Total Healthcare Professionals Management Liability
More informationSpread Betting Guide V1.1
Spread Betting Guide V1.1 2 3 Notice, Risk Warning & Disclaimer Contents Futex ProTrader is a trading name of ProSpreads Limited, regulated by the Financial Services Commission and licensed by the NOTICE
More informationDirect Earnings Attachment
Direct Earnings Attachment A Guide for Employers 1 What this Guide is about This guide explains what you, as an employer, need to do if DWP Debt Management (part of the Department for Work and Pensions
More informationFinancial Conduct Authority. The FCA s role under the Payment Services Regulations 2009 Our approach
Financial Conduct Authority The FCA s role under the Payment Services Regulations 2009 Our approach June 2013 Preface The Payment Services Approach Document is aimed at helping firms navigate through
More informationHead of Insight - Banking and General Insurance. Outline and discuss the key issues impacting the 2016 Ratings
206 Ratings roundtable meetings Current Accounts Hosted by Brian Brown Head of Insight - Banking and General Insurance Purpose Outline and discuss the key issues impacting the 206 Ratings Get your feedback
More informationCreative Employment Programme FAQs
Creative Employment Programme FAQs 1. Creative Employment Programme What is the Creative Employment Programme? How did Creative & Cultural Skills become the National Provider for the Creative Employment
More informationApex Risk Advisors Limited trading as Apex Insurance Brokers 7 South Mall, Cork. Fax: 021 2399204 www.apexinsurance.ie
Apex Risk Advisors Limited trading as Apex Insurance Brokers Tel: 021 2398864 7 South Mall, Cork. Fax: 021 2399204 www.apexinsurance.ie General Terms of Business These terms of business set out the basis
More informationEEA Life Settlements Fund PCC Limited
Report on Control Environment as at 30 April 2011 Incorporating an Independent Report by KPMG Channel Islands Limited dated 5 July 2011 Index Introduction 1 Fund structure 2 Organisation of responsibilities
More informationStored value facilities and retail payment systems in Hong Kong: a proposed regulatory regime
Stored value facilities and retail payment systems in Hong Kong: a proposed regulatory regime by the Financial Infrastructure Department The rapid development of innovative retail payment products and
More information