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FCA updates Handbook to help firms prepare for Brexit deadlines
By Neasa MacErlean
Online Published Date:
03 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
Trader spotted by surveillance algorithms appeals £100,000 fine
By Neasa MacErlean
Online Published Date:
03 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
FCA ready to extend Covid measures on consumer credit and overdrafts
By Neasa MacErlean
Online Published Date:
03 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
Cryptoasset retail sales banned, as FCA warns it will monitor potential loopholes
By Neasa MacErlean
Online Published Date:
07 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
AI – the regulatory challenge
Financial services Artificial Intelligencetechnology is developing apace, as regulators juggle the desire to fosterinnovation and competitiveness, alongside the need to protect consumers andmarket integrity. Compliance teams should recruit AI specialists as well asthoroughly understand the complex issues and risks, reports Neasa MacErlean.
Online Published Date:
12 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
Embedding fair treatment of vulnerable customers
In a more paternalistic regulatory climate, where large numbers of consumers qualify as vulnerable, the Financial Conduct Authority’s recent guidance consultation goes into more detail on the issue than ever. “The more one talks about vulnerability, the greater is the likelihood of the situation improving,” says Adam Samuel.
Online Published Date:
12 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
FCA and the 'new normal'
As the Financial Conduct Authority strives to support consumers and firms through a global pandemic, while economic fallout and Brexit loom in near view, perhaps the only certainty is uncertainty. Emma Radmore explores what the new regulatory normal might look like, and where the FCA might hope to be by the end of 2020.
Online Published Date:
12 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
Cloud cover – EIOPA Guidelines on Cloud Outsourcing
New European rules on cloud outsourcing byinsurance undertakings, along with the UK’s imminent final withdrawal from theEU, raise concerns about fragmentation of regulatory standards. Charlotte Hill and Clare Reynolds examine the requirements under the EIOPA CloudGuidelines and the impact they will have on insurance undertakings’ use ofcloud.
Online Published Date:
12 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
Number of FCA fines against individuals slumps
The coronavirus pandemic looks set to have a marked effect on FCA enforcement statistics, with just four financial penalties imposed so far this year and the likelihood of future cases stemming from the crisis. Meantime, the latest data in the regulator’s annual report shows there were fewer new cases launched in the past financial year, as well as a decline in the number of fines against individuals, writes Esther Martin.
Online Published Date:
12 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
SRA suspends lawyer for AML failings
A lawyer’s egregious disregard for anti-moneylaundering requirements has led to a nine-month suspension, restrictions on herpractising certificate and a contribution to legal costs. But relatively fewlaw firms receive an on-site AML review from their regulator, reports Denis O’Connor.
Online Published Date:
12 October 2020
Appeared in issue:
Vol 33 No 2 - 01 October 2020
Reliance on external compliance leads to first fine under Short Selling Regulation
By Neasa MacErlean
Online Published Date:
15 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
FCA bans two advisers for submitting false high-net-worth claims
By Neasa MacErlean
Online Published Date:
15 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Firms warned over market volatility and financial services disruption on EU departure
By Neasa MacErlean
Online Published Date:
19 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Guidance eased on covid measures for insurance and premium finance firms
By Neasa MacErlean
Online Published Date:
19 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Fugitive money launderer faces eight more years in jail under confiscation order
By Neasa MacErlean
Online Published Date:
19 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Goldman Sachs pays US$2.9bn for risk management failures around 1MDB deals
The FCA and PRA have together fined Goldman Sachs International £96.6 million for risk management failures connected to 1MDB - a Malaysian development fund embroiled in an embezzlement scandal. This is part of a global settlement that sees the..
Online Published Date:
23 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Aviva escapes fine by prompt response and payment scheme after making misleading statement
By Neasa MacErlean
Online Published Date:
27 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Firms warned to avoid disruption on payments when Brexit transition ends
By Neasa MacErlean
Online Published Date:
28 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020