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Reliance on external compliance leads to first fine under Short Selling Regulation
By Neasa MacErlean
Online Published Date:
15 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
FCA bans two advisers for submitting false high-net-worth claims
By Neasa MacErlean
Online Published Date:
15 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Firms warned over market volatility and financial services disruption on EU departure
By Neasa MacErlean
Online Published Date:
19 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Guidance eased on covid measures for insurance and premium finance firms
By Neasa MacErlean
Online Published Date:
19 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Fugitive money launderer faces eight more years in jail under confiscation order
By Neasa MacErlean
Online Published Date:
19 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Goldman Sachs pays US$2.9bn for risk management failures around 1MDB deals
The FCA and PRA have together fined Goldman Sachs International £96.6 million for risk management failures connected to 1MDB - a Malaysian development fund embroiled in an embezzlement scandal. This is part of a global settlement that sees the..
Online Published Date:
23 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Aviva escapes fine by prompt response and payment scheme after making misleading statement
By Neasa MacErlean
Online Published Date:
27 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Firms warned to avoid disruption on payments when Brexit transition ends
By Neasa MacErlean
Online Published Date:
28 October 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
FCA bans three men from the sector following sexual offence convictions
By Neasa MacErlean
Online Published Date:
06 November 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
The devil in the detail of business interruption insurance
"A purposive interpretation of the language of policies to supply the cover that everything indicates the customers thought that they were buying, makes much more sense than the occasionally quite negative niggling arguments presented by the insurers" [the author, below]. The High Court has given its view in FCA v Arch Insurance on a small proportion of all the wordings in business interruption policies - but years of wrangling over Covid-19-related claims could lie ahead. Adam Samuel discusses the judgment and ways forward.
Online Published Date:
11 November 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Whistleblowing: on a need-to-know basis
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.
Online Published Date:
12 November 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
FCA: a tale of five CEOs
Nikhil Rathi takes the helm of the Financial Conduct Authority at a time of crisis - the global coronavirus pandemic - and with the United Kingdom's final transition from the European Union just months away. Neasa MacErlean reports on one of the country's most challenging jobs.
Online Published Date:
13 November 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Financial promotions face new approval 'gateway'
The Government proposes strengthening oversight of financial promotions issued by unauthorised firms, by establishing a regulatory 'gateway' as well as bringing the promotion of certain cryptoassets under FCA remit. Charlotte Hill and Arnav Gupta review the consultation papers.
Online Published Date:
14 November 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
Pitfalls of selling financial products
Though the current market for financial services advice or sales retains elements that resemble issues tackled in the 1990s, other compliance questions remain largely unexplored. Adam Samuel examines some of the classic problems.
Online Published Date:
16 November 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020
FCA culture roundtable finds “worrying lack of awareness or depth”
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 findings and questions that all institutions should consider.
Online Published Date:
16 November 2020
Appeared in issue:
Vol 33 No 3 - 15 October 2020