CRO meaning

In this issue: Beyond Brexit UK, EU and international regulators and bodies Authorisation, approval and supervision Prudential requirements Operational resilience Complaints, compensation and claims management Financial crime and sanctions Consumer credit, mortgage and home finance Conduct requirements Investigations, enforcement and discipline Regulation of capital markets Regulation of derivatives Sustainable finance and ESG Banks and mutuals Investment funds and asset management UK MiFID II EU MiFID II Regulation of insurance Payment services and systems Fintech and cryptoassets LexTalk®Financial Services: a Lexis®Nexis community Dates for your diary Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts Beyond Brexit FCA updates guidance on the financial services contracts regime, temporary permissions regime and leaving SRO or CRO The Financial Conduct Authority (FCA) has refreshed its guidance covering the temporary permissions regime, the financial services contracts regime, and how firms...

Industry association Insurance Europe and the CRO Forum, a risk management firm for the insurance industry, responded on 19 March 2024 to EIOPA’s industry consultation on proposed measures to curb misleading claims about the environmental credentials of financial products. The insurers urged consistent application of supervisory obligations, better co-ordination between directives and solutions to address the limited availability of data. ‘Establishing a shared interpretation of sustainability statements is crucial for enabling competent authorities to confront greenwashing effectively, while safeguarding consumers and providing legal clarity for insurers,’ Insurance Europe and the CRO Forum noted. EIOPA has outlined new sustainability rules that all insurance and pension providers throughout Europe are required to observe in full. These rest on four core principles in practice. The first is that companies should...

In this issue: UK, EU and international regulators and bodies Prudential requirements Operational resilience Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of Benchmarks and IBOR reform Regulation of capital markets Regulation of derivatives Sustainable finance and ESG Banks and mutuals Investment funds and asset management Consumer credit, mortgage and home finance Regulation of insurance Payment services and systems Fintech and cryptoassets AI in financial services regulation Financial Services Enforcement Database Intraday news alerts Daily and weekly news alerts New and updated content Dates for your diary UK, EU and international regulators and bodies BoE and FCA update their MoU HM Treasury (HMT) has issued a refreshed memorandum of understanding (MoU) between the Financial Conduct Authority (FCA) and the Bank of England (BoE) (acting in its prudential regulation capacity). The MoU outlines the overarching framework...

This Practice Note considers the requirements and guidance on risk control (the risk control rules) relevant to firms, drawn from the Senior Management Arrangements, Systems and Controls sourcebook in the Financial Conduct Authority (FCA) Handbook (SYSC) and the Prudential Regulation Authority (PRA) Rulebook, and includes measures that will replace Commission Delegated Assimilated Regulation (EU) 2017/565 (the UK MiFID II Organisational Regulation) upon its revocation on 23 October 2025. Risk control rules applying to UK financial services firms The risk control rules applicable to firms are contained in: the overarching obligation to maintain effective risk control processes in SYSC 4.1.1R SYSC 7 Risk control SYSC 21 Risk control: guidance on governance arrangements Dual-regulated firms should also be mindful of parallel provisions in the following sections of the PRA Rulebook: Risk Control (which applies to CRR firms, as defined in the PRA Rulebook Glossary) Group Risk Systems (which applies to CRR firms) Credit Unions—11 General organisational requirements...

Following a series of court decisions and influential commentary, it is now widely accepted that, under English law, cryptoassets are neither things in possession nor things in action; instead, they comprise a distinct third form of property as data objects. The Proceeds of Crime Act 2002 (POCA 2002) establishes, in broad terms, two routes for the realisation of criminal proceeds: a conviction-based restraint and confiscation regime under POCA 2002, Pt 2, criminal in character and largely managed by the criminal courts under the Criminal Procedure Rules 2025 (CrimPR 2025), SI 2025/909; and a non-conviction based asset recovery regime under POCA 2002, Pt 5, operating within the civil jurisdiction. In England and Wales, at a high level, this results in: proceedings before the magistrates’ court, in its civil jurisdiction, for the freezing and forfeiture of (i) cash, (ii) high value personal property, and (iii) money in accounts held with financial institutions (FIs); and proceedings before the High Court for a...

This Practice Note sets out what a civil restraint order (CRO) is and when the court may make one under the Family Procedure Rules 2010 (FPR 2010), SI 2010/2955, 4.8 and FPR 2010, PD 4B. It focuses on general civil restraint orders (GCROs), covering who may apply, their effect and how long they last (including how they can be extended or continued). It also addresses matters relevant to a party bound by a GCRO, such as seeking permission to amend or discharge the order and the consequences of breaching it... Civil restraint orders in family proceedings A CRO is not intended to bar access to the courts; rather, it safeguards the integrity of the court’s process by filtering applications made by litigants who are subject to a CRO. In short, applications that fall within the scope of an existing CRO must be considered by the judge specified in the order before they may proceed...

This Agreement is entered into on [ date ] Parties [ Insert the company name ], a company incorporated in [ England and Wales ] under company number [ insert registered number ], whose registered office is at [ insert address ] (the Sponsor); and [ Insert the company name ], a company incorporated in [ England and Wales ] under company number [ insert registered number ], whose registered office is at [ insert address ] (the CRO) Each of the Sponsor and the CRO is a party and, collectively, the Sponsor and the CRO are the parties. Background The Sponsor is supporting a series of clinical trials to obtain marketing authorisation for the IMP and intends to retain the CRO to carry out certain services. The CRO possesses the requisite knowledge and experience in the design, oversight and conduct of clinical trials and agrees to provide such services to the Sponsor in accordance with the...

Parties [ Insert the company name (the sponsor's name) ] with its registered office at [ insert address ], hereinafter called the Controller; [ Insert the company name (the name of the Contract Research Organisation (CRO)) ] with its registered office at [ insert address ], hereinafter called the Processor; each of the Controller and the Processor being a Party and, together, the Controller and the Processor being the Parties. BACKGROUND (A) The Parties have entered into one or more written agreements for the provision of certain Services connected to [ add description of the Services (e.g. the conduct and management of clinical trials) ], as amended from time to time and, collectively, the 'Principal Agreement', which involve the processing of certain Personal Data. (B) The Parties wish to record their respective rights and duties concerning the processing of Personal Data in this data protection schedule (the 'Schedule'), intended to be appended to the Principal Agreement...