i-law.com - Newsletter (Compliance Monitor)

Asset managers and intermediaries told to review cost disclosures

By Neasa MacErlean

Online Published Date: 01 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

FCA ready to publish final ‘no deal’ rules if Brexit discussions stall

By Neasa MacErlean

Online Published Date: 01 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

FCA clarifies cryptoasset regulation

Compared with some other regulators globally, the Financial Conduct Authority has been ‘hands off’ in its approach to the fast-growing and often controversial crypto industry. Draft guidance, which sets out a three-category classification approach, provides clarification – but there will likely be grey areas in practice, comment Ian Mason and Sushil Kuner.

Online Published Date: 06 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

At the Brexit cliff-edge

The United Kingdom is due to leave the European Union this month, but the political ructions over the terms on which it will do so are going down to the wire. Michael McKee and Marina Troullinou discuss the regulatory implications of Brexit for the financial services community, both in the immediate and longer-term.

Online Published Date: 06 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

MiFID II unbundling – what price, research?

FCA CEO Andrew Bailey has declared that MiFID II unbundling of research costs from trading services is having a “positive impact” – but he admitted there were “winners and losers” from the reforms, reports Esther Martin.

Online Published Date: 06 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

US ‘tuna bond’ bribery charges beg questions about UK response

The recent arrests of three ex-Credit Suissebankers charged with United States bribery offences represent another instanceof the three lines of defence model failing to operate as it should. Whataction will the relevant UK criminal and regulatory authoritiestake? asks Denis O’Connor.

Online Published Date: 06 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

Market abuse: prevention is better than detection

Julia Hoggett, the Financial Conduct Authority’sdirector of market oversight, recently gave a speech on implementation of theMarket Abuse Regulation in the United Kingdom. Alexios Bostantzoglou unpacks the regulator’s key concerns.

Online Published Date: 08 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

FCA’s ‘Sector Views’ herald focus of Business Plan

The Financial Conduct Authority has published its Sector Views, highlighting the information it uses to assess how specific financial sectors and the financial system as a whole are working. It draws on this analysis when formulating its Business Plan for the coming year. In 2019, it has decided to share the views in advance of publishing the Business Plan. Emma Radmore examines the key messages.

Online Published Date: 11 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

Compliance hires dip, but Brexit effect is still unclear

2018 saw a challenging and unpredictablecompliance recruitment market in London, along with a greater focus on EUjurisdictions. By Caleb Hawkins and Harry Rogers.

Online Published Date: 11 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

Gross dereliction of AML supervision duty by UK professional bodies – official report

By Timon Molloy, managing editor

Online Published Date: 12 March 2019

Appeared in issue: 262 - 01 April 2019

Gross dereliction of AML supervision duty by UK professional bodies – official report

By Timon Molloy, managing editor

Online Published Date: 12 March 2019

Appeared in issue: Vol 31 No 07 - 01 April 2019

The regulator’s review of high-cost credit

The Financial Conduct Authority was almosthyperactive in 2018 trying to sort out the myriad problems left behind in theconsumer credit sector by the Office of Fair Trading and by its own hands-offapproach to banking conduct of business in the previous decade. Its work hasincluded belated guidance on how lenders of all types should assess thecustomer’s ability to afford credit, reports Adam Samuel.

Online Published Date: 12 March 2019

Appeared in issue: Vol 31 No 06 - 01 March 2019

Carphone Warehouse fined £29m for long-term insurance mis-selling

The Carphone Warehouse has been mis-selling a mobile phone insurance and technical support product according to the Financial Conduct Authority, which has meted out a £29,107,600 penalty.The FCA’s investigation – which was prompted by whistleblowing..

Online Published Date: 13 March 2019

Appeared in issue: Vol 31 No 07 - 01 April 2019