i-law.com - Newsletter (Compliance Monitor)

: Reliance on external compliance leads to first fine under Short Selling Regulation; Online Published Date : 15 October 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; By Neasa MacErlean

: FCA bans two advisers for submitting false high-net-worth claims; Online Published Date : 15 October 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; By Neasa MacErlean

: Firms warned over market volatility and financial services disruption on EU departure; Online Published Date : 19 October 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; By Neasa MacErlean

: Guidance eased on covid measures for insurance and premium finance firms; Online Published Date : 19 October 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; By Neasa MacErlean

: Fugitive money launderer faces eight more years in jail under confiscation order; Online Published Date : 19 October 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; By Neasa MacErlean

: Goldman Sachs pays US$2.9bn for risk management failures around 1MDB deals; Online Published Date : 23 October 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; TheFCA and PRA have together fined Goldman Sachs International £96.6 million forrisk management failures connected to 1MDB – a Malaysian development fundembroiled in an embezzlement scandal. This is part of a global settlement thatsees the Goldman..

: Aviva escapes fine by prompt response and payment scheme after making misleading statement; Online Published Date : 27 October 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; By Neasa MacErlean

: Firms warned to avoid disruption on payments when Brexit transition ends; Online Published Date : 28 October 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; By Neasa MacErlean

: FCA bans three men from the sector following sexual offence convictions; Online Published Date : 06 November 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; By Neasa MacErlean

: The devil in the detail of business interruption insurance; Online Published Date : 11 November 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; TheHigh Court has given its view in FCA v Arch Insurance on a small proportionof all the wordings in business interruption policies – but years of wranglingover Covid-19-related claims could lie ahead. Adam Samuel dissects thejudgment and suggests ways forward.

: Whistleblowing: on a need-to-know basis; Online Published Date : 12 November 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; A parliamentary report decries that organisational whistleblowing policies and procedures often bear no resemblance to actual practice, and calls for significant changes to the UK approach. Barry Faudemer sets out steps for firms to take.

: FCA: a tale of five CEOs; Online Published Date : 13 November 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; Nikhil Rathi takes the helm of the FinancialConduct Authority at a time of crisis – the global coronavirus pandemic – andwith the United Kingdom’s final transition from the European Union just months away. Neasa MacErlean reports on one of thecountry’s most challenging jobs.

: Financial promotions face new approval ‘gateway’; Online Published Date : 14 November 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; The Government proposes strengtheningoversight of financial promotions issued by unauthorised firms, by establishinga regulatory ‘gateway’ as well as bringing the promotion of certaincryptoassets under FCA remit. Charlotte Hill and Arnav Guptadiscuss the consultation papers.

: Pitfalls of selling financial products; Online Published Date : 16 November 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; Though the current market for financialservices advice or sales retains elements that resemble issues tackled in the1990s, other compliance questions remain largely unexplored. Adam Samuelexamines some of the classic problems.

: FCA culture roundtable finds “worrying lack of awareness or depth”; Online Published Date : 16 November 2020 | Appeared in issue: Vol 33 No 3 - 15 October 2020; A recent Financial Conduct Authority roundtable of experienced staff from 18 wholesale banks on culture revealed there is a considerable amount of work to be undertaken, especially in areas where firms were “unacceptably weak”. Denis O’Connor outlines the findings and questions that all institutions should consider.