- Home/Publications/Compliance Monitor
The FCA Business Plan: continuity and change
Unsurprisingly, the United Kingdom’s parting of ways from the European Union featured prominently in the Financial Conduct Authority’s annual Business Plan released in April.
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
Spread-betting company executives fined £116,900 for market abuse
Two former employees of Worldspreads Ltd have been penalised £105,000 and £11,900 for intentionally misleading the London Stock Exchange and investors about the spread-betting company’s performance.Financial controller Lukhvir Thind..
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
Repayment plan regime proposed for ‘persistent’ credit card debtors
By Neasa MacErlean
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 4 - 03 April 2017
Sophisticated buyers rebuffed, in landmark LIBOR mis-selling claim
Though the Royal Bank of Scotland secured a resounding victory against a high-profile interest rate swap ‘mis-selling’ lawsuit, there are remaining areas of risk and uncertainty for financial services firms. With a different claimant and set of circumstances, the next case could go the other way, warn James Le Gallais and Noah Benjamin Stewart-Ornstein.
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
The Insurance Product Information Document – yet more box ticking?
Under the Insurance Distribution Directive, general insurance distributors in the European Union must provide consumers with a standardised document outlining key information about the product they are considering. Yet, more paper will not necessarily result in customers being better informed, argues Noline Matemera.
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
Examining ‘equivalence’, as Brexit starting gun fired
On 29 March, a six-page letter from UK Prime Minister Theresa May to European Council President Donald Tusk set the two-year article 50 timeline ticking on Britain’s exit from the Union. In view of a possible loss of passporting rights, Jonathan Herbst and Simon Lovegrove assess the position for UK financial services when it comes to equivalence with the EU regime.
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
Supreme Court lets FCA off the hook for ‘identifying’ London Whale manager
The Financial Conduct Authority has triumphed at the Supreme Court against a claim that it improperly identified the manager of the London Whale trader in enforcement notices against JP Morgan.In 2012 Achilles Macris was head of the bank’s..
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
Enforcement procedures remodelled
The introduction of partly-contested cases and elimination of later-stage penalty discounts could streamline the regulatory enforcement process but may also give rise to potential problems. Much will depend on how the changes are applied in practice, explain Louise Hodges and Jonathan Blunden.
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
Push payment fraud: ‘Which?’ way forward for unprotected customers?
The Payment Services Regulator has declined to oblige banks to reimburse customers who fall victim to authorised push payment scams. However, the issue is not fully resolved, reports Johnny Shearman.
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
WhatsApp bragging costs investment banker £37,198
A former Jefferies International managing director shared client confidential information over WhatsApp a number of times and so has been fined £37,198 by the Financial Conduct Authority.The communications, which were sent over the instant..
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
Compliance officer liability: between a rock and a hard place?
There is a pervading impression in financial services that compliance officers are subject to significantly more regulatory exposure than they used to be. Yet the primary pitfall is intentional misconduct, argues Christopher David.
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
Dealing commission breaches could lead to investigation of individuals
By Neasa MacErlean
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
UK aims for consistency, with supervisor of AML supervisors
By Timon Molloy, managing editor
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
Disempowered compliance teams prompt FCA best-execution warning
By Neasa MacErlean
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017
Firms urged to make immediate MiFID II applications
By Neasa MacErlean
Online Published Date:
25 April 2017
Appeared in issue:
Vol 29 No 7 - 06 April 2017