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Guide to conducting internal investigations: governance and decision-making
This is the second of six instalments
serialising the ‘Guide to conducting internal investigations’, on best
practices and guidance for those conducting or overseeing investigations in
both the United Kingdom and the United States. In this second part, Jake McQuitty and Charles Hastie shed light on governance and decision-making, along
with who should investigate.
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
FCA’s latest push in the pensions sector
Transferring from a defined benefit pension to one without any safeguards, has historically been unlikely to be in a customer’s best interests, says the Financial Conduct Authority. Its recent consultation (CP17/16) aims to ensure consumers receive a thorough assessment of their needs and objectives, along with appropriate advice, when looking to give up valuable pension benefits, reports Emily Benson.
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
New York’s cybersecurity state of mind
Financial institutions operating in New York
State have recently become subject to a new cybersecurity regulation from the
NYS Department of Financial Services. Firms must get to grips with its far more
prescriptive approach than that of the UK regulator, or risk potential
enforcement action, reports Nicholas
Querée.
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
Market study tackles weak price competition among asset managers
The Financial Conduct Authority’s asset management market study has concluded that “price competition is weak in a number of areas of the industry” and supports the disclosure of a single, all-in fee to investors. The final report..
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
Getting ready for the GDPR
On 25 May 2018, EU data privacy law will be consolidated and strengthened under the new General Data Protection Regulation. The GDPR will replace all current EU data privacy laws, and the UK Data Protection Act 1998 will be repealed. Enhanced protection of and autonomy over personal data lies at the heart of this significant legislative change. With less than a year until the GDPR comes into force, Hazel Moffat and Rebecca Roberts offer practical guidance on key issues the financial sector must grapple with in preparation.
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
Challenges and opportunities of the EU Benchmarks Regulation
The European Union’s response to benchmark-rigging scandals of recent years has a significantly broader scope than the regime currently established in the United Kingdom. It will be a demanding task for many firms to gain compliance in the short time available, report Tobias Sproehnle and Gareth Parker.
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
The robo compliance officer
RegTech is being billed as ‘The new FinTech’, and can offer valuable intelligence as well as efficiencies, through the automation of processes and the analysis of big data. Yet is there a danger that robotic compliance could turn compliance… ‘robotic’? asks Adam Samuel.
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
BoE gave pastoral care to staff covered by SFO probe
By Neasa MacErlean
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
Compliance officer and day trader charged with insider dealing
A former UBS compliance officer and a day trader have appeared
at the City of London Magistrates’ Court on 16 June charged with insider
dealing, after a joint investigation between the Financial Conduct Authority and
the National Crime..
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
Insider trader receives industry ban
Damian Clarke, a convicted insider dealer, has been banned by the Financial Conduct Authority from any function in regulated financial services because he is “not a fit and proper person”. After confessing, the former equities trader at..
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
Barclays & past executives charged with fraud over crisis fund-raising
By Timon Molloy
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
UK waits on ESMA over retail Contract for Difference rules
By Neasa MacErlean
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
FCA seeks new chair as Griffith-Jones announces departure
By Neasa MacErlean
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
FCA consults on pay incentive rules for consumer credit firms
By Neasa MacErlean
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
Admiral slip-up sounds warning to insurers over renewal data disclosure
By Neasa MacErlean
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
Regulatory testing for innovative products opens to third cohort
By Neasa MacErlean
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017
Product governance under MiFID II: ESMA’s final guidelines
Draft guidelines on MiFID II product governance requirements, published last October, were not without controversy. In its final report of 2 June 2017, the European Securities and Markets Authority modified the guidelines in some areas, such as portfolio diversification. Davinia Collins and Emma Radmore examine the issues the guidelines address, and their effect on firms that manufacture or distribute Investment Products.
Online Published Date:
18 July 2017
Appeared in issue:
Vol 29 No 10 - 18 June 2017