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Reinventing Your Compliance Management

By Joseph Paice | communications, Compliance, FinTech, News, regtech | 0 Comments

Setting the landscape Like many industries, technology has completely transformed the financial services industry. The explosion of FinTech is an already widely discussed topic, and one that I do not wish to exhaust here. However, what is interesting is how this new breed is being serviced in terms of their compliance needs – and yes, […]

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June Regulatory Update

By Joseph Paice | Uncategorized | 0 Comments

Financial Ombudsman Service publishes 2019/20 complaints data and future strategy Following the FOS’s consultation on it’s future strategy (published Dec 2019) it has published it’s 2019/20 annual complaints data alongside its future strategy looking ahead to 2025 and beyond. The 2019/20 annual complaints data shows that the FOS received over 270,000 new complaints relating to […]

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January 2020 regulatory update

By Joseph Paice | Uncategorized | 0 Comments

Implementing CRD IV: capital buffers An updated version of the supervisory statement was released and took effect on 23 January 2020, following PS2/20 ‘Pillar 2 capital: Updates to the framework’. In CP5/13, the Prudential Regulation Authority (PRA) set out proposals for implementing the Capital Requirements Directive (CRD IV) provisions on capital buffers. The PRA’s rules on […]

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December Regulatory Update

By Joseph Paice | Uncategorized | 0 Comments

NCA issues tasking to improve responses to fraud On the 20th December 2019 the National Crime Agency (NCA) issued a voluntary tasking under the Crime and Courts Act 2013 to improve enforcement authorities’ responses to fraud. The tasking – only the fourth ever issued by the NCA, is focused on “improving the intelligence picture on […]

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Money Laundering Regulations 2019

By Joseph Paice | Uncategorized | 0 Comments

The FCA has published an update for the Government’s Money Laundering Regulations with new rules coming into force on 10th January 2020. The new standards update the UK’s AML regime to incorporate international standards set by the Financial Action Task Force (FATF) and to transpose the EU’s 5th Money Laundering Directive. The primary objective of […]

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November Regulatory Update

By Joseph Paice | Uncategorized | 0 Comments

Protection of whistleblowers Directive (EU) 2019/1937 of 23 October 2019, which establishes new EU-wide standards on the protection of whistleblowers, has been published in the Official Journal of the European Union. Some of the main points the Directive covers includes the following: protection for whistleblowers if they disclose information publicly in certain circumstances; safeguards to […]

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