After pressing pause on the 10% depreciation notification rule, writes Steven Levin, the FCA must now ditch the regulation that is not fit for purpose
This spring was meant to see the launch of a consultation looking at changes to rules around the requirement for firms to issue 10% depreciation notifications to investors as part of the FCA's MiFID ‘quick fixes' post-Brexit. This element has been pushed back as the FCA continues to implement temporary relief for firms around the rule until March 2022. Back in March the regulator said that it was considering the effectiveness of the notifications, so it is clear reform is in the air and this is a positive step. Clearly last year saw a period of unprecedented market movements and the F...
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