Welcome to the September 2021 edition of our investment management update. This publication has been tailored to highlight topical news, cases and changes in the law impacting the investment management sector.

Key things to keep an eye out for in this month’s update include:

  • the FCA’s third and final consultation on the Investment Firms Prudential Review;
  • a significant development in the Frensham case, in which the Upper Tribunal decided that the FCA misapplied the fit and proper persons test;
  • the European Commission is consulting on the timing of the application of the PRIIPs Key Information Document to UCITS funds; and
  • final EU rules have been adopted for Money Market Funds’ investment rules.

General

UK

FCA Board considers Google’s plan to change terms and conditions relating to financial products and services adverts

On 4 August 2021, the FCA published minutes from its Board meeting held on 24 June 2021.

Among other things, at the…

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