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FCA to review rules to encourage long-term investment by DC pension sector
By Neasa MacErlean
Online Published Date:
29 September 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
NatWest awaits fine of up to £340m after pleading guilty to MLR criminal charges
By Neasa MacErlean
Online Published Date:
11 October 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
Towards a bespoke financial regulatory regime for cryptocurrencies
Regulatory responses to cryptocurrencies have been inconsistent around the world, as authorities grapple with both the opportunities and risks they present. In the UK, the Financial Conduct Authority has moved from warnings to a growing crackdown – while also identifying cryptoassets as a focal point for development. Kate Gee chronicles this regulatory balancing act.
Online Published Date:
13 October 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
FCA spells out regulatory duties for remote working
By Neasa MacErlean
Online Published Date:
18 October 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
Pensions adviser banned and fined after switching vulnerable clients to minibond fund
By Neasa MacErlean
Online Published Date:
18 October 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
Credit Suisse to pay US$475m over corrupt Mozambique deals, plus restitution
The global investment bank has agreed a penalty totalling US$475 million with United States and United Kingdom regulators; moreover, it will forgive US$200m of debt owed by Mozambique – because it defrauded investors in the financing of coastal..
Online Published Date:
20 October 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
LTAFs to operate on minimum redemption notice periods of one month
By Neasa MacErlean
Online Published Date:
27 October 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
Warranties and ‘sophisticated investor’ definitions on FCA perimeter agenda
By Neasa MacErlean
Online Published Date:
27 October 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
PRA plans climate-related supervision from 2022 — highlighting gaps in risk and scenario planning
By Neasa MacErlean
Online Published Date:
02 November 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
FCA outlines design approach to ‘sustainable investment labels’ for products
By Neasa MacErlean
Online Published Date:
03 November 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
Climate-focused regulation heats up
A sense of urgency in conference rooms and on the streets at the United Nations Climate Change Conference in Glasgow, will also be felt by compliance officers as they grapple with onerous requirements coming down the pipeline from UK and other regulators. Neasa MacErlean reports on key initiatives and takeaways.
Online Published Date:
09 November 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
Home Office strikes blow against defensive SARs
Guidance from the Crown Prosecution Service and the Home Office ups the ante on relevant officers to submit Suspicious Activity Reports where appropriate, but not to succumb to over-filing. The emphasis is on firms suitably managing their risks and not using an easy escape route, comment Maria Evstropova and Julius Kania.
Online Published Date:
09 November 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
Proposed changes to the FCA’s cancellation and variation powers
“Use it or lose it.” The FinancialConduct Authority is sending out a stronger message to firms that fail to utilisetheir regulatory permissions. Charlotte HillandArnavGupta explain the details of the regulator’s consultation.
Online Published Date:
09 November 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
NatWest’s conviction on AML charges was a failure of culture
Catastrophic anti-money laundering breaches have ledto a guilty plea and a possible £340 million fine for NatWest. No matter what ‘policies and procedures’ are in place, thereis a failure in culture when a client, which is not supposed todeposit cash, can bank £264m in person over a five-year period, says BarryFaudemer.
Online Published Date:
10 November 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
OPBAS slams professional body supervisors over weak regulation
As the Pandora Papers once again suggest, the net of anti-moneylaundering protectionin the United Kingdom has plenty of holes. While a May 2021 letter to retail banks is the latest expression of the Financial Conduct Authority’s displeasure at AML control failings under its watch, a recent report by the umbrella supervisor of the legal and accountancy sectors has enumerated further deficiencies among the gatekeepers. Denis O’Connor reports.
Online Published Date:
10 November 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021
FOS fumbles with Covid-era case spike
Though payment protection insurance complaints are finally ebbing, the Financial Ombudsman Service is grappling with a case backlog, a productivity fall during the pandemic, along with a surge in cases – particularly in relation to current accounts and credit cards. Staff are reportedly being offered ‘voluntary overtime’ just months after FOS made 200 redundancies in its mass claims teams. [1] Adam Samuel scrutinises the Service’s performance.
Online Published Date:
11 November 2021
Appeared in issue:
Vol 34 No 3 - 11 October 2021