i-law.com - Newsletter (Compliance Monitor)

A flurry of recent documents from the Financial Conduct Authority have targeted the insurance industry’s product governance with a series of reporting and value measures. Adam Samuel rakes through the implications for firms.

Online Published Date: 07 December 2020

Appeared in issue: Vol 33 No 4 - 11 November 2020

Two roads diverge – but by how much?

The United Kingdom is about to forge its own path outside the European Union but, for financial services, much will depend on whether Britain’s future regulatory regime will continue to align, or cut loose and risk being deemed not ‘equivalent’ in prescribed areas by the EU. Neasa MacErlean discusses different approaches in view.

Online Published Date: 07 December 2020

Appeared in issue: Vol 33 No 4 - 11 November 2020

Pointers on fitness and propriety assessments

Though the deadline to complete their first round of F&P assessments has been pushed back to the end of March, solo-regulated firms have this issue high on their agenda. Jill Lorimer and Nick Ralph provide practical tips from regulatory and employment law points of view.

Online Published Date: 07 December 2020

Appeared in issue: Vol 33 No 4 - 11 November 2020

Operational resilience proposals: prepare for the worst

Severe disruptive events are inevitable and financial institutions must plan for maintaining supply of their core products and services, say the UK regulators. Steven Francis and Sara Evans discuss the proposed operational resilience regime, its most challenging aspects and what firms can work on right away.

Online Published Date: 07 December 2020

Appeared in issue: Vol 33 No 4 - 11 November 2020

Navigating regulation in 2021

The final Brexit negotiations are going down to the wire and the pressing question for financial services businesses is simple – ‘What rules do I follow?’ Emma Radmore outlines what the regulators have been doing and what firms should be attending to now.

Online Published Date: 08 December 2020

Appeared in issue: Vol 33 No 4 - 11 November 2020

Complying with SMCR during coronavirus

Acknowledging the unusual pressures that financialinstitutions have faced this year, the regulators have sought to uphold the objectives of the Senior Managers and CertificationRegime while also providing guidance and some flexibility. Charlotte Hill and Daniel Hirschfield report onfirms’ governance arrangements amid the Covid-19 crisis.

Online Published Date: 08 December 2020

Appeared in issue: Vol 33 No 4 - 11 November 2020

Silence in the City – whistleblowers in the wilderness

Despite financial services firms’ legal and regulatory obligations, employees who raise misconduct concerns about their workplace report that reprisals are still commonplace. Denis O’Connor examines the latest findings from whistleblowing charity Protect.

Online Published Date: 08 December 2020

Appeared in issue: Vol 33 No 4 - 11 November 2020