i-law.com - Newsletter (Compliance Monitor)

FCA strips four Cypriot firms of passporting rights, in first use of its power

The FCA has used its power to remove passporting rights from a firm for the first time, as it barred four Cypriot outfits from continuing to offer high-risk contracts for difference to investors in the United Kingdom.In addition to using..

Online Published Date: 01 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

How to handle the heat on non-financial misconduct

Regulators and the media are placing greater focus on inappropriate behaviours in financial institutions that are beyond the sphere of their core business functions. Rhodri Kettle and Jonathan Bowdler discuss what ‘non-financial misconduct’ is and how to manage the risks in your organisation.

Online Published Date: 02 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

Covid-19, the mother of invention?

Howis the pandemic going to change financial services firms’ working practices andtechnology, as well as the regulatory agenda? Neasa MacErlean exploresthe evolving landscape.

Online Published Date: 02 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

Covid test case on business interruption cover due for July hearing

By Neasa MacErlean

Online Published Date: 02 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

FCA moves to protect consumer money if payments firms collapse

By Neasa MacErlean

Online Published Date: 02 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

Bank of England warns again of possible Brexit no-deal

While significant focus has been on handling the coronavirus crisis in recent months, the Bank of England has reminded banks of the other major uncertainty they face – the possibility that the United Kingdom and European Union may fail to strike a..

Online Published Date: 03 June 2020

Appeared in issue: Vol 32 No 10 - 01 July 2020

FCA faces the uncertain future

Amid an unfolding global pandemic and withBrexit underway, the Financial Conduct Authority has attempted its annual BusinessPlan. Adam Samuel assesses theregulator’s progress and goals.

Online Published Date: 03 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

Assessing outcomes of the APP Fraud Code

The PSR, LSB and FOS have concluded that thebanks’ voluntary APP (Authorised Push Payment) Fraud Code has not resulted inthe levels of reimbursement to scam victims they would have expected. Denis O’Connor examines their findings onhow the Code is not working effectively for customers.

Online Published Date: 03 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

FCA steps up efforts to support SMEs

Discussion about the lack of regulatory protections for small andmedium-sized enterprises has gained traction in recent years. Now, theFinancial Conduct Authority has set up a Small Business Unit for SMEs andrecently wrote to CEOs of banks lending to such enterprises as well as insurersproviding SME business interruption insurance. Harvey Knight reports onwhat compliance officers need to know and what reasonable steps should be takento meet the regulator’s expectations.

Online Published Date: 05 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

Employment law during the coronavirus crisis

As lockdown gradually relaxes, how do firms decide who is reasonably required to come to the office and what are the risks associated with that? Alexandra Carn outlines the legal position.

Online Published Date: 05 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

Stay in step with SCA implementation

The Financial Conduct Authority has givenfirms extra time in which to implement the Strong Customer Authenticationrequirements, but there remains much to do. Charlotte Hill andLaurenClarke provide an update.

Online Published Date: 05 June 2020

Appeared in issue: Vol 32 No 9 - 01 June 2020

DB pension transfer reforms released, amid 30 enforcement investigations

By Neasa MacErlean

Online Published Date: 05 June 2020

Appeared in issue: Vol 32 No 10 - 01 July 2020

Lloyds subsidiaries penalised £64m for mortgage arrears call-handling issues

The Financial Conduct Authority has fined Lloyds Bank, Bank of Scotland and The Mortgage Business £64,046,800 for poor information-gathering about mortgage customers in payment difficulties, as well as inadequate systems to ensure they are treated..

Online Published Date: 11 June 2020

Appeared in issue: Vol 32 No 10 - 01 July 2020