2019-07-29 09:16
It has been billed as the biggest shake up of bank overdrafts in a generation as the FCA takes aim at what it calls a ‘dysfunctional overdraft market’. So how will these changes… Read More
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2019-07-04 10:09
The financial sector is quick to acknowledge the threat of climate change, but not enough is being done about it. That’s a shame because, aside from anything else, this could be an eno… Read More
2019-06-20 14:06
Climate change presents a risk not just to the planet, but also to the financial sector. That’s the main message from a report into how finance can become more sustainable. The need to… Read More
2019-06-06 15:32
The FCA has announced the fifth round of its regulatory sandbox which includes three blockchain start-ups. It’s the latest effort in their attempt to assess the value and the risks of… Read More
2019-05-23 10:23
Directors are feeling the heat as the number of them being investigated by the city watchdog doubles in just two years. It’s a clear signal from the regulator that if directors fail to… Read More
2019-05-17 09:56
Digital transformation is a phrase which has been thrown about pretty freely and while it has plenty of benefits for the financial sector, institutions can be forgiven for feeling a little n… Read More
2019-05-09 14:16
The FCA’s recent decision to fine Carphone Warhouse £29.1 million is meat and drink to those who feel mobile phone companies should keep away from financial products. But… Read More
2019-05-03 20:17
It’s no secret that the financial regulators have had their hands full with Brexit over the past year or so. But while much of the attention has been focused on surviving the co… Read More
2019-04-25 07:00
Before we can adequately regulate cryptocurrencies and the blockchain we have to work out what they are. The FCA has begun the process of defining its approach to cryptocurrencies. But as it… Read More
2019-04-18 11:14
At the beginning of March the FCA published rules on a new directory of financial services personnel in a bid which is intended to boost transparency for the sector. Here’s what it wil… Read More
2019-04-04 10:51
At the next G20 meeting approaches, Japan are hoping this could be the meeting that starts to make progress on global regulatory fragmentation. As major economies adjust their regulatory app… Read More
2019-03-28 10:45
A tax company has warned that many advisers may be ‘sleep walking’ into criminal prosecution if they cannot show that they have taken reasonable precautions to prevent tax evasio… Read More
2019-03-21 07:37
At the end of the year the Senior Manager’s Regime will be extended to cover all regulated firms. If firms have been behaving themselves this shouldn’t change much about their re… Read More
2019-03-14 10:00
The FCA’s Chief Executive Andrew Bailey has been defending the the impact of MiFiDII and believes it could save investors £1bn over the next four years. A year and a bit on from… Read More
2019-03-07 10:01
The FCA has revealed its final, final, definitely the last for the time-being no deal Brexit plans and it contains some valuable reassurances on customer protections, but it’s a soberi… Read More
2019-02-28 08:54
The number of people being banned by the FCA has risen over the past year, but the chances are this is only the beginning. It’s arguably the ultimate sanction the regulator can impose… Read More
2019-02-07 05:00
It’s just over a year since MiFiDII came bounding into the world and all the signs are that, 12 months on, the sector is still trying to get to grips. One thing’s for sure, thoug… Read More
2019-01-24 08:00
To rebuild trust, banks have to go beyond corporate social responsibility and embed good practices in everything they do. In November 2018, we were delighted to be named as one of two winner… Read More
2019-01-03 12:31
2018 has been a year in which big data is everywhere. As the amount of information cascading into the business world surges, there is almost no part of operations which are unaffected. One o… Read More
2018-12-20 10:00
Data breaches have gone mainstream – that’s the conclusion of regulators as they look back on the first six months of GDPR. They show that the number of companies reporting breac… Read More
2018-12-13 13:25
As banks prepare to move clients and operations into the EU, the FCA has warned them that they may be exposing their clients to added costs and risks. The closer to Brexit we get the more un… Read More
2018-12-06 12:29
“As technology changes over time and new developments emerge, it is natural to experience disruptions that challenge the prevailing regulatory framework.” This is how ASIC’… Read More
2018-11-22 09:00
Business as usual – at least for a little while. That’s the message from Theresa May’s draft withdrawal plan, but the banking sector don’t seem to be popping the cham… Read More
2018-11-15 14:03
The FCA’s final guidance on PPI claims means banks could have to reopen thousands of rejected cases. New regulations from the FCA promise to open the floodgates for a renewed surge of… Read More
2018-11-08 06:00
The financial regulator is stepping up its preparations for a no deal Brexit, so how concerned should we be? It started out as the ‘easiest deal in human history’ and has gone st… Read More
2018-11-01 09:00
Good, bad or indifferent? The FCA is making moves to correct what it sees as small problems with illiquid funds, but what will be the impact for fund managers? It’s June 24th and the m… Read More
2018-10-25 04:00
New regulations and innovative products make life difficult for the regulators, but they also mean they are increasingly important. Financial regulators are no strangers to criticism. Depend… Read More
2018-10-18 05:00
Google’s admission that it covered up an enormous data breach should serve as a warning to any firm which is tempted to do the same thing. First Facebook and now Google. The world&rsqu&hell…Read More
2018-10-11 07:40
Financial organisations are furiously building their defences, but here’s one threat they might not have taken into consideration. What secrets are their employees hiding? The internet… Read More
2018-10-04 07:00
£30 million – that’s a fair bit of money for anyone, even a bank. But that’s how much the FCA is considering fining Tesco Bank for failing to prevent a major cyber-at… Read More
2018-09-27 09:23
Fintech is booming and a host of non-banks are finding ways to compete with the traditional sector. But with that growth comes responsibility and regulators are now turning their eyes to the… Read More
2018-09-20 05:00
The FCA is joining up with other global regulators to create an international sandbox to help improve regulation and make innovation safer. Regulators face two big challenges: they want to f… Read More
2018-09-13 06:00
Clone firms which pretend to be FCA regulated are a growing threat to individuals and businesses of all kinds. In recent times we’ve become used to the regular statements from the FCA… Read More
2018-09-06 06:00
Insurance terms and conditions are becoming longer and more complex. Does this reduce the level of trust inherent in the system? Have you ever taken time out to read the terms and conditions… Read More
2018-08-30 10:03
The ESMA’s new rules on financial spread betting came into force on August 1, and spread betting platforms are working hard to find their feet. In recent years, the world of online spr… Read More
2018-08-23 07:30
The FCA has said that the senior managers regime include allegations of sexual misconduct, but are regulators doing everything they can to improve the lot for women in business. It was a sca… Read More
2018-08-16 07:30
An aging population and a lack of money in the pot mean there could be tough times ahead for the next generation of pensioners. Can the FCA do anything about it? “The financial service… Read More
2018-08-09 08:25
A new report paints a lurid picture of two centuries of bad behaviour in the world of finance. New research released by the FMSB suggests that the financial world appears doomed to repeat th… Read More
2018-08-02 07:00
The FCA has released its interim report for payment platforms. While it takes a softer line than many people expected there are still plenty of criticisms. The study had been expected… Read More
2018-07-19 12:00
Why financial regulation can sit at the heart of embedding climate risk into the financial community. The future of the planet looks bleak but could financial regulators be the unlikely hero… Read More
2018-07-19 07:30
The rapidly growing robo adviser market is about to come under closer scrutiny from the regulators. In 1997 the greatest Chess grandmaster of all time Garry Kasparov took on a computer, &hell…Read More
2018-07-12 16:35
Cryptocurrencies are growing and regulators around the world are taking decidedly different stances. To some it’s a threat, to others it’s an opportunity. The truth lies in betwe… Read More
2018-07-05 14:30
Credit risk, new regulations cyber security and financial transparency are all top of the European Banking Authorities Priorities for 2018. This month the European Banking Authority publishe… Read More
2018-06-28 14:13
RegTech has immense potential but barriers exist for all sides. In this article, we’ll look at some of the issues facing regulators. In January the FCA issued a call for responses as i… Read More
2018-06-21 14:13
Technology has an enormous role to play in all areas of the financial world. It stands to reason that regulation joins in. But what’s standing in the way? RegTech exists as an offshoot… Read More
2018-06-14 15:00
AI is revolutionising the financial world but from a regulatory perspective this is as much of a headache as a benefit. The AI market is booming. A recent report from Research and Markets su… Read More
2018-06-07 14:12
As the monetary authority of Singapore becomes the latest regulator to announce new guidelines for greater accountability, will the changes have the desired result? Accountability is the wat… Read More
2018-05-31 15:00
Same wine in a different bottle or a radical new approach to complaints handling? It all depends on who you talk to. Australia is getting a new Super Ombudsman and, depending on which side o… Read More
2018-05-24 08:00
As the FCA submits its discussion paper on transforming culture, how can regulators move business culture in the direction it wants? Big business – especially the financial services &n&hell…Read More
2018-05-17 07:30
As Australia passes the Bank Executive Accountability Regime firms will need to decide how they are going to react. Trust. That’s one commodity that banks around the world have found i… Read More
2018-05-17 07:09
Compliance officers perform a crucial role in any financial company, but what do they do with their days and how is the role changing? There aren’t many children who tell their parents… Read More
2018-05-10 12:36
Concluding our series reflecting on Megan Butler’s speech to the FT Investment Managers Summit, we examine the key conduct challenges confronting corporations. As we were writing this… Read More
2018-05-03 08:00
In this 6th post in our series reflecting on Megan Butler’s speech to the FT Investment Managers Summit, we look at what factors might undermine good conduct in your firm. Well placed… Read More
2018-04-27 11:05
Banks are turning to technology to provide convenience, save money and drive growth, but as TSB recently found out, when things go wrong it’s easy to fall foul of the law. Last week be… Read More
2018-04-11 09:38
ASIC’s decision to fine the directors of Storm Financial throws the light on executive responsibility. But what lessons can be learned? It was a case that represented the worst excesse… Read More
2018-04-10 14:12
By Jane Walshe, CEO of Enforcd Want to see how Enforcd can help Senior Managers? Watch our short demo video. Last summer, the Financial Conduct Authority (FCA) publi… Read More
2018-03-15 07:31
In this 5th post in our series of blogs on the FCA’s increasing focus on corporate conduct, we look at how boards can get an oversight of conduct. It’s a problem we often see in… Read More
2018-03-08 07:55
In this 4th post in our series reflecting on Megan Butler’s speech to the FT Investment Managers Summit, we look at what support your firm provides to help staff improve conduct. Ensur… Read More
2018-03-01 08:35
As the deadline for replies to the FCA Consultation on codes of conduct for unregulated activities draws near, what key lessons should firms take away? In November of last year, the FCA publ… Read More
2018-02-22 08:24
In this third post in our series reflecting on Megan Butler’s speech to the FT Investment Managers Summit, we look at how you can encourage all staff to take responsibility for managin… Read More
2018-02-15 08:30
As the second post in our series of seven blogs on the FCA’s increasing focus on corporate conduct we look at what steps a business can take to identify conduct risks. Many years… Read More
2018-02-09 08:18
In the first part of a series of seven blog posts, we look at the 5 basic conduct questions that arose out of Megan Butler’s speech at the AFT Investment Summit last year. In Sept… Read More
2018-02-05 07:23
The blockchain has enormous potential for compliance officers, but rule makers are still struggling to work out how to regulate it. This month Gibraltar announced it was becoming the first c… Read More
2018-02-01 07:06
As Hargreaves Lansdown and other platforms suspend hundreds of investment trusts, are the PRIIPs regulations doomed already? The new PRIIPs (Packaged retail investment and insurance-based pr… Read More
2018-01-30 08:47
Enforcd, has beaten off stiff competition to become one of only 10 companies chosen to take part in the FinTech SuperCharger Hong Kong 2018. From amongst 277… Read More
2018-01-29 11:07
Learning from the lessons of the past can help the financial services industry ride the rough regulatory waves of 2018. Fear of failure. It’s something we all feel at one time or anoth… Read More
2018-01-23 13:19
Brexit is coming – probably, at some point in the next couple of years, we think. Depending on which way you voted, that either makes you extremely happy or incredibly angry. However… Read More
2018-01-18 16:31
Are you ready for the GDPR?
If not, it’s time to work fast, because the GDPR represents a big challenge as well as an enormous opportunity.
Much has been written about the arrival of… Read More
2018-01-16 11:49
Every regulated company is obliged by law to ensure that its workers comply with the “Competent Employees Rule”, as detailed in the FCA and PRA handbooks. This article takes a lo… Read More
2018-01-10 10:47
Regulators are asking some tough questions, but RegTech can help financial services firms find the answers if they are willing to embrace new technology.
Banks and financial institutions fa… Read More
2018-01-02 08:47
It’s a busy, demanding and unpredictable year ahead in the world of financial services regulation.
Happy New Year!
Now, buckle up because 2018 is likely to be a regulatory minefield.&n&hell…Read More
2017-11-30 11:54
In 2001, Paul Walter joined UBS as a trader. He moved to the Bank of America Merrill Lynch (BAML) in 2013, and stopped working there in 2014. In November 2017, he was fined £60,000 by… Read More
2017-10-20 07:06
The FCA Financial Lives Survey was published on 18 October 2017. Titled “Understanding the financial lives of UK adults”, the FCA will use the Survey to identify potential consum… Read More
2017-10-12 07:38
The Financial Conduct Authority (FCA) has been focused on effective conduct risk management information since 2004 when, as the Financial Service Authority (FSA) it launched the Treating Cus… Read More
2017-10-02 10:03
The 2015 accounts for Glasgow based Intelligent Pensions Limited were jubilant:
“Turnover has grown this year by 15.4% and the company generated a profit on ordinary activities before… Read More
2017-09-28 09:56
Complaints handling is (sort of) back in the headlines.
This time the FCA has written to firms with consumer credit permissions, to say that following its review, it had identified:
a failur… Read More
2017-09-22 10:38
Depending on your point of view, this is either a great, or a terrible year to be a banking IT manager. Three major regulatory burdens are in train: the second payment services directive (PS… Read More
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