- Home/Publications/Compliance Monitor
Error in spreadsheet cell lies behind PRA’s £47m record fine to Standard Chartered Bank
By Neasa MacErlean
Online Published Date:
07 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
BlueCrest challenges proposed £41m fine from FCA over conflicts of interest
By Neasa MacErlean
Online Published Date:
07 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
Metro Bank fined for making inaccurate risk weightings on loan book over 32 months
By Neasa MacErlean
Online Published Date:
07 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
Controversial businessman charged as FCA makes first use of s 49 RIPA powers
By Neasa MacErlean
Online Published Date:
11 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
British Steel Pension Scheme transfer advisers warned as FCA plans redress scheme
By Neasa MacErlean
Online Published Date:
11 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
FCA launches studies on benchmarks and credit ratings as part of data analytics review
By Neasa MacErlean
Online Published Date:
11 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
EU fines four banks €344m for forex spot trading cartel
The EuropeanCommission has concluded that some traders in charge of forex spot trading ofG10 currencies at five major banks exchanged sensitive information andsometimes colluded to benefit their trades. [1] UBS, Barclays, RBS and HSBCsettled their..
Online Published Date:
17 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
HSBC fined £63.9m for catastrophic transaction monitoring failings
By Timon Molloy andKeith Nuthall
Online Published Date:
17 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
Financial promotion rules to cover Bitcoin and other unregulated cryptoasset ads
By Neasa MacErlean
Online Published Date:
20 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
Managers and firms in firing line as FCA reins in restructuring schemes
By Neasa MacErlean
Online Published Date:
26 January 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
“Serious weaknesses” in transaction monitoring cost HSBC £63.9m penalty
A hefty fine underscores the needthoroughly to document the justification for setting threshold levels, toconduct annual reviews of threshold levels and suppression rules, as well as toconduct regular data reconciliations between transaction and monitoringsystems. Denis O’Connor dissects the failings.
Online Published Date:
07 February 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
A ‘new’ Consumer Duty – or same rules, more layers?
Are the regulator’s CP21/36 proposals truly novel or just clarifications and extensions of existing rules along with “further layers of regulatory gunge”? Adam Samuel comments on how the FCA “proposes to make a mess of its current rulebook”.
Online Published Date:
08 February 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
Appointed Representatives Regime targeted for reform amid concerns
AR arrangements have generated exponentially more complaints and supervisory cases than equivalent directly-authorised firms. Now, the Financial Conduct Authority is consulting on enhancements to the AR regime, while HM Treasury is calling for evidence on how effectively it operates. Charlotte Hill and Ahmed Razzaq examine the consultation, HMT’s call for evidence, along with the potential impact of policy proposals and reforms.
Online Published Date:
08 February 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
Flourishing e-money and payments sector in scope for SMCR
The Senior Managers and Certification Regime is poised to cast its net even wider, with proposals to include the UK’s nearly 1,500 e-money and payment services firms. Ben Arram outlines practical implications that affected firms should consider.
Online Published Date:
08 February 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
Regulators lag amid escalation of crypto fraud
The call for regulation of the crypto arena is “ubiquitous”, but legislators and supervisors are struggling to respond apace with emerging asset classes as well as the ramp-up of criminal activity. Bambos Tsiattalou reports.
Online Published Date:
08 February 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022
Still blowing it with whistleblowers
There is plenty of lip service to the importance of systems that allow people to speak up safely when they know of wrongdoing, but this remains an area that firms often get wrong. Anna Battams discusses a roundup of the UK’s biggest financial services whistleblowing scandals.
Online Published Date:
08 February 2022
Appeared in issue:
Vol 34 No 5 - 01 February 2022