Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
The United Kingdom’s client assets regime: Problematic issues of threshold application
Journal of Financial Compliance,
4
(3),
222-231
(2021)
Abstract
This paper considers certain difficult legal threshold matters of application in relation to the United Kingdom’s client assets regime. Consideration of such matters is especially timely as the regime transitions from a period of rapid change to a more business-as-usual environment. Topics covered include title transfer collateral arrangements, mandates and evidencing compliance with the Senior Managers and Certification Regime.
Keywords: client assets; client money; TTCA; best interests; appropriate
The full article is available to subscribers to the journal.
Author's Biography
Carl Fernandes is a partner in the London office of Latham & Watkins and a member of the Financial Institutions Group. Carl has over 20 years of experience in London, Hong Kong and Australia advising a wide range of financial services clients, spanning all key subsectors, including multidisciplinary investment banks, broker-dealers, custodians, asset managers and private banks. Carl advises on a broad range of complex regulatory issues, with a particular focus on the scope of licensing requirements in the context of cross-border business, the full range of wholesale market conduct requirements and restrictions, and the design, development and implementation of systems and controls to manage these regulatory risks. Carl provides advice on these issues in a wide variety of contexts, including influencing and implementing regulatory reform, supporting clients through intense supervisory or enforcement interactions with regulators, and conducting due diligence and structuring acquisitions or disposals of regulated businesses.
Kishore Bhindi is an associate in the London office of Latham & Watkins and a member of the Financial Institutions Industry Group. Kishore has experience advising banks, broker-dealers, asset managers and private banks on a range of financial services regulatory issues, including the scope of licensing requirements, market conduct requirements and restrictions, regulatory change projects, and risk management issues. His work in risk management covers a diverse range of topics, from senior management responsibility and risk management frameworks to conflicts of interest, market abuse, client money, fair treatment of customers and complaint handling.
