i-law.com - Newsletter (Compliance Monitor)

UK aims to conclude Brexit ‘equivalence assessments’ with EU within four months

By Neasa MacErlean

Online Published Date: 02 March 2020

Appeared in issue: Vol 32 No 6 - 01 March 2020

Should MiFID II be thrown in a regulatory bonfire?

Debate is raging in the financial servicesindustry over the extent to which the United Kingdom should maintain equivalencewith European Union rules in future, so as to maintain market access to thebloc. Nick Bayley discusses thisissue with regard to MiFIR reporting.

Online Published Date: 06 March 2020

Appeared in issue: Vol 32 No 6 - 01 March 2020

5MLD – the line-by-line analysis

The European Union’s Fifth Money Laundering Directive – which in part responded to terrorist attacks in Paris and Brussels as well as the Panama Papers leaks – took effect on 10 January 2020 for the strengthened Customer Due Diligence provisions. The Government is now finalising technical legislation to implement the Trust Registration Service aspects. Adam Samuel dissects how 5MLD upgrades the Fourth Directive.

Online Published Date: 06 March 2020

Appeared in issue: Vol 32 No 6 - 01 March 2020

Failure to prevent market abuse: a viable new corporate criminal offence?

The UK’s trailblazing ‘failure to prevent bribery’ offence ushered in a groundswell of corporate initiatives to stiffen up their anti-corruption regimes, and a similar offence has been introduced for tax evasion. But would it translate into an effective mechanism against market abuse? Neil Swift and Craig Hogg raise concerns.

Online Published Date: 06 March 2020

Appeared in issue: Vol 32 No 6 - 01 March 2020

Who are you? Cutting-edge KYC

Many firms continue to experience unnecessary expense and errors, when the data and technology is available for faster, more accurate as well as lower-cost customer authentication and risk insight. Steve Elliot reports on how rich data sets can transform Know Your Customer processes in financial services.

Online Published Date: 06 March 2020

Appeared in issue: Vol 32 No 6 - 01 March 2020

SEAR proposal puts heat on banks’ treatment of loyal customers

Financial services firms in the United Kingdom were first alerted that their savings customers were potentially being treated unfairly in October 2013. Yet, six years later, the regulator has found it necessary to intervene with a Single Easy Access Rate. What does this long-tolerated behaviour say about firms’ purported focus on customers’ interests? asks Denis O’Connor.

Online Published Date: 06 March 2020

Appeared in issue: Vol 32 No 6 - 01 March 2020

State of the markets

Financial markets in the United Kingdom are becoming cleaner, believes the regulator, as it boosts enforcement activity and conducts more sophisticated analysis of expanding data sets. However, defeating market abuse is an unending game of ‘cat and mouse’. David Rundle and Anna Gaudoin analyse a speech by Mark Steward.

Online Published Date: 06 March 2020

Appeared in issue: Vol 32 No 6 - 01 March 2020

Government announces economic crime levy to boost AML

Firms subject to the Money Laundering Regulations – including financial, e-money and payment institutions – will pay a levy to support work on the Government’s Economic Crime Plan, [1] the Chancellor of the Exchequer announced in his budget on 11..

Online Published Date: 12 March 2020

Appeared in issue: Vol 32 No 7 - 01 April 2020

FCA tackles coronavirus threat to consumers and market integrity

By Neasa MacErlean

Online Published Date: 18 March 2020

Appeared in issue: Vol 32 No 7 - 01 April 2020

Product governance – operational structure, design and distribution (video)

The floodtide of claims about payment protection insurance may have been stemmed, but poor treatment of financial consumers isn’t over. In part one of two videos, Esther Martin talks with compliance consultant Adam Samuel about how to ensure you are bringing financial products to market that satisfy your regulatory obligations.

Online Published Date: 18 March 2020

Appeared in issue: Vol 32 No 5 - 18 December 2019

Product governance – common errors (video)

In the second of two videos about product governance, Esther Martin talks with compliance consultant Adam Samuel about the problems that most often trip up firms when bringing financial products to market.

Online Published Date: 18 March 2020

Appeared in issue: Vol 32 No 5 - 18 December 2019