Financial services publications 

These articles and case studies etc have been written by lawyers at Speechly Bircham. Please get in touch with the authors if you would like more information on a particular topic.

Articles and case studies are in pdf format which can be viewed using Acrobat Reader. If you do not have Acrobat Reader, you can download it here. Seminar slides are in a format which will run without the need for Powerpoint.

Inform: Financial Services
This first edition of Inform: Financial Services looks at the Retail Distribution Review which will impact at  all levels of the retail distribution chain; how the AIFMD is progressing; and at the Employment Financed Retirement Benefit Scheme...read more (July 2010)

Distribution of retail investments: delivering the RDR
In June 2006 the FSA launched the Retail Distribution Review (RDR) to examine how investments are sold to retail consumers in the UK. Following three years of investigation, on 25 June 2009 the FSA published its detailed proposals for meeting the concerns that it had previously identified...read more

Unlisted investment funds for the private investor
Elizabeth Budd looks at some of the unlisted funds available to the experienced private investor... read more
This article was first published in Speechly Bircham's Inbrief publication (November 2008)

CEBS publishes guidelines on outsourcing by credit institutions
These guidelines take account of MiFID and build on many other outsourcing advice documents.  Here we provide some guidance...read more

MiFID Part II: Systems, the solution
In the second part of his analysis published in FOW magazine, Vincent Mercer explores the terrain of the post-MiFID playing field ( October 2006 )... read more

MiFID Part I: How sticky is liquidity?
In this article published in FOW magazine, Vincent Mercer takes a look at the future post-MiFID (September 2006)... read more

Wake up to MiFID
Over the coming eighteen months the regulation of financial services throughout Europe is set to undergo a huge change with the implementation of the Markets in Financial Instruments Directive (MiFID) (March 2006)... read more

Implementing MiFID in the UK
During our recent seminar on how to prepare for MiFID, Vincent Mercer mentioned that the FSA recently released a draft series of questions and answers on their website to provide guidance on the UK's implementation of MiFID. For easy access to this information please click here

Hedge funds - finding the right path
In this article originally published in FOW 's Hedge Fund Supplement, Vincent Mercer takes a look at promoting hedge funds... read more

Refco - a gentle reminder for customers
One of the world's biggest futures brokers has disappeared. In this article for FOW magazine, Vincent Mercer examines the scandal and the lessons that can be learned for customers so they don't get caught out in the future... read more

A rock and a hard place
People in the financial services industry are often caught between the potentially conflicting duties to their employer and the FSA. Striking a balance - and knowing when to blow the whistle - can be difficult. In an article which first appeared in the September 2005 edition of the Securities & Investment Review (the magazine of the Securities & Investment Institute), we shed some light on the issue ... read more

FOW law report June 2005 - A long look forward
In this FOW article, Vincent Mercer looks at the regulatory state of play for alternative investment funds ... read more

FOW law report December 2004 - Money laundering update
In this FOW article, Vincent Mercer looks at new developments in money laundering, in particular the process of identity verification ... read more

FOW law report November 2004 - Miffed by MiFID
In this article for FOW magazine, Vincent Mercer examines the Markets in Financial Instruments Directive - what is it, what's its purpose and how does it fit in? ... read more

UCITS III - the Management Directive EFSR April 2004
In this article published in European Financial Services Regulation (EFSR) magazine, Vincent Mercer looks at the most recent amending Directive to the original Undertakings for Collective Investments in Transferable Securities Directive (UCITS I), and its implications for the European financial services industry ... read more

FOW feature March 2004 - special purpose vehicles
In this article for FOW magazine, Vincent Mercer explains the thinking behind and the role of special purpose vehicles, their tax treatment in different locations and the accounting risks they may pose ... read more

FOW law report December 2003 - pension funds seek alternative investments
In this article published in FOW magazine, Vincent Mercer explains how alternative investments can help alleviate current pressures on pension fund trustees ... read more