After a relatively quiet period for FCA announcements, last week saw a flurry of activity. The big focus was on announcements about the UK Green Finance Strategy and the regulator’s consultation on Sustainability Disclosure Requirements.

The UK Government’s statement on the review of the criminal market abuse regime was welcomed (and we ran some comment from our regulatory intelligence director Rob Mason on the subject).

There was an update on progress with addressing concerns the FCA had about the Morses’ Club Scheme of Arrangement, particularly over funding of payments to creditors.

Chief executive Nikhil Rathi delivered a speech at the Global Investment Management Summit on the subject of Reforming our capital markets ecosystem.

Credit default swaps (CDSs) were in the spotlight after ICE Clear Europe announced the cessation of clearing for all classes of CDS from October 27 2023. The FCA set out its expectations.

Firms subject to FCA action were;

• Auden Group Limited;
• Wharton Asset Capital Management Ltd;
• Trade capitol (Clone of FCA authorised firm);
• Everest Private Assets;
• Moon Trust Bank;
• Confidential Global FX;
• Cypher FX Miners;
• Capital Group Bank;
• Edove Marketplace;
• Cryptolive Trade247;
• DEFX Markets;
• Mortec Invest;
• MFS Securities;
• Bull and Bear Payments.