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Tough on Greenwashing: FCA Airs Out New ESG Guidelines for Investment Funds

By admin | ESG, ESG, Investment, Investment Funds, Investment Manager, Sustainable Investing | 0 Comments

The FCA have issued a Dear AFM Chair letter on improving quality and clarity relating to authorised ESG and sustainable investment funds. The letter details a new set of guidelines for investment funds with the aim of boosting trust in the market to ensure that fair value is provided to consumers and to help AFMs comply with […]

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Does the Kalifa Review of UK FinTech go far enough?

By admin | Brexit, Compliance, Consumer Credit, Credit Brokers, Credit Lenders, E Money, FCA Regulation, Financial Industries, FinTech, Insurance, Investment, Investment Advisor, Investment Manager, News, payments, regtech | 0 Comments

FinTech is no longer a niche within financial services, nor is it a subsector. In fact, it is a core asset for Global Britain. This was the message from Ron Kalifa OBE, author of the Kalifa Review of UK Fintech, received with much praise by the industry. The independent Treasury review published on February 26th is […]

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May Regulatory Update

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  FCA Published Letter to mortgage lenders and administrators managing closed mortgage books The FCA published a letter, in light of the Coronavirus circumstances, addressed to firms with customers who took out mortgages, with higher risk characteristics before the financial crisis, to review the interest rates charged to such customers as a matter of urgency. […]

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Business Continuity & Covid-19

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Business Continuity & Covid-19 In light of the global coronavirus pandemic, the FCA has issued a statement reminding firms that it expects them to have contingency plans in place to deal with major events. The FCA is now actively reviewing the contingency plans of a wide range of firms, including assessments of operational risks, the […]

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New capital requirements for investment firms

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New Capital requirements for investment firms Investment Firm Directive/Investment Firm regulation In December 2017 the European Commission adopted a proposal for a regulation and a proposal for a directive to amend the current EU prudential rules for investment firms. This review aimed to introduce more proportionate and risk-sensitive rules for investment firms. With this new […]

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Who are the FCA and what do they do?

By admin | #ComplyEssentials | 0 Comments

Introduction This is the first of our #ComplyEssentials series. In this series, we’ll cut through the regulatory jargon and explain, practically, how financial compliance works in the UK. The Financial Conduct Authority (FCA) is the UK’s financial watchdog that regulates the conduct of 59,000 financial institutions. Independent of the government, the FCA ensures the good […]

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October Regulatory Update

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Financial Services Duty of Care Bill 2019-2020 On the 29th October, the Financial Services Duty of Care Bill 2019-20 had its first reading in the House of Lords. If the Bill becomes law, it will amend FSMA 2000 to require the FCA to introduce rules to impose a duty of care owed by authorised persons […]

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September Regulatory Update

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The FCA fines Tullett Prebon £15.4 million The Financial Conduct Authority (FCA) has fined Tullett Prebon (Europe) Limited (Tullett Prebon) £15.4 million for failing to conduct its business with due skill, care and diligence, failing to have adequate risk management systems and for failing to be open and cooperative with the FCA. Tullett Prebon, now […]

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August Regulatory Update

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Guidance for firms on the fair treatment of vulnerable customers The FCA  are currently consulting on Guidance to give firms involved in the supply of retail products or services clarity on how they should treat vulnerable customers fairly. The FCA’s Financial Lives survey found that 50% of adults show characteristics of potential vulnerability and thus […]

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July Regulatory Update

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EBA publishes thematic report on the impact of fintech on payment and e-money institutions The EBA has conducted a thematic review on the impact financial technology has on the business models of payment and e-money institutions. The report, published July 8th, covers current key trends shaping institutions’ business models, the different approaches to financial technology […]

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