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Turn and face the strange
With the transformed landscape of financial services after the crisis gradually taking shape, industry professionals highlight the compliance challenges of the year ahead. By Esther Martin
Online Published Date:
09 February 2011
Appeared in issue:
Vol 23 No 5 - 01 February 2011
Wait a SEC – am I caught by Dodd-Frank?
With the regulator across the pond casting its net abroad through Obama’s financial regulatory reform Act, asset managers must identify if they are affected and, if so, get to grips with SEC requirements, train staff and develop a compliance monitoring programme for SEC purposes, writes Jane Stoakes.
Online Published Date:
09 February 2011
Appeared in issue:
Vol 23 No 5 - 01 February 2011
Cracking the revised Code
With many more financial services institutions coming within the scope of the revised Remuneration Code, now in effect, compliance personnel should be working closely with other functions to determine how the rules apply to their firm. Tim Wright and Duncan Nicholls break down the steps involved.
Online Published Date:
09 February 2011
Appeared in issue:
Vol 23 No 5 - 01 February 2011
News
Policy shift towards product intervention
The FSA has given notice of a “major shift in philosophy” towards intervening at an earlier stage of financial services, in the development of products. This is despite the potential of such a..
Online Published Date:
09 February 2011
Appeared in issue:
Vol 23 No 5 - 01 February 2011
Keeping up with CASS
With new rules and heightened focus, the FSA is on the warpath when it comes to ensuring compliance with requirements for holding client assets and money. Nick Andrews provides a practical guide through the regulatory minefield that could help prevent your firm from becoming a CASS casualty.
Online Published Date:
09 February 2011
Appeared in issue:
Vol 23 No 5 - 01 February 2011
When the chips are down
Ideally, an FSA enforcement investigation would be warded off by robust compliance practices. But if this falters and the regulator comes knocking, preparation for the ensuing process is essential. Carlos Conceicao, Judith Seddon and Caroline Doherty de Novoa outline some practical steps.
Online Published Date:
09 February 2011
Appeared in issue:
Vol 23 No 5 - 01 February 2011
00 status: licence to… exercise SIFs
The FSA’s new significant influence function for parent entities confers what sounds like Bond-like status on its holders – but, alas, glamorous companions and locations are not necessarily part of the package. Richard Burger, Steve Wyndham and Imogen Hurst clarify who and what is involved.
Online Published Date:
09 February 2011
Appeared in issue:
Vol 23 No 5 - 01 February 2011
Cumbersome training and competence
It’s hard to argue with the premises behind the FSA rules, yet Adam Samuel can’t help thinking that the pot might be calling the kettle black. He walks us through the coming changes, identifying problems and pointing to what should be firms’ real goal.
Online Published Date:
09 February 2011
Appeared in issue:
Vol 23 No 5 - 01 February 2011