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To AR or NOT to AR, that is the Question…

By Simon Hill | Agent Relationship, Appointed Agent, Appointed Representative, Compliance, Insurance, Insurance Broker, Investment, Investment Advisor, Investment Manager, Regulatory Hosting, Umbrella Services | 0 Comments

As the new year draws ever closer, and the FCA prepares to usher in the new era of the Investment Firms Prudential Regime (IFPR) – which brings with it increased capital requirements and a more onerous approach to risk management – start-up firms with ambitions of carrying on regulated activities may already be re-thinking the […]

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Navigating the AML Minefield

By Simon Hill | Uncategorized | 0 Comments

The legal and regulatory landscape for a firm’s compliance with anti-money laundering and counter-terrorist financing can be a little daunting, to say the least. Between the various associations publishing guidelines and recommendations, and the lack of prescriptive requirements in legislation, it is not too difficult to see why this is an area where many firms […]

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November Regulatory Update

By Simon Hill | Uncategorized | 0 Comments

FCA seeks views on change and innovation in the unsecured credit market as part of the Woolard Review – 2 November 2020 The FCA has published a Call for Input on change and innovation in the unsecured credit market as part of a review that considers how regulation can better support a healthy, unsecured lending […]

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October Regulatory Update

By Simon Hill | Uncategorized | 0 Comments

FCA publishes perimeter report 2019/20 – 29 September 2020 The FCA has published its second annual perimeter report, which determines which activities require authorisation and what level of protection consumers can expect for the financial services and products they purchase. The report aims to provide clarity to stakeholders on the FCA’s role and sets out […]

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September Regulatory Update

By Simon Hill | Uncategorized | 0 Comments

FCA publishes new webpage on Digital Sandbox – 2 September 2020 The FCA has published a new webpage containing information about the FCA DataSprint, a three week event held in July and August 2020 which brought together a wide range of participants from regulated firms, start-ups, academia, professional services and others. Participants collaborated on developing […]

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August Regulatory Update

By Simon Hill | Uncategorized | 0 Comments

FCA updates Handling of Complaints statement for firms – 31 July 2020 The FCA has published an updated version of the statement it originally published in May, to clarify its position on complaints handling during the Covid-19 pandemic. The regulator clarifies its position regarding: Complaint handling capacity and priorities Vulnerable consumers Maintaining the quality of […]

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July Regulatory Update

By Simon Hill | Uncategorized | 0 Comments

FCA publishes statement on its expectations for Benchmark Administrators and firms using Appointed Representatives regarding the Appointed Persons Regime (APR) – 30 June The FCA stated that it recognises that firms may need longer periods of temporary arrangements if, for example, an Approved Person is absent because of coronavirus, or if recruitment to replace an […]

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How to Assess Adequate Financial Resources

By Simon Hill | Uncategorized | 0 Comments

Introduction Following the consultation on its guidance in June 2019, in June 2020 the Financial Conduct Authority (FCA) has published the Finalised Guidance (FG20/1) on a framework for financial services firms ensure they have adequate financial resources. The guidance applies to all FCA-solo-regulated firms. We summarised the key information to take away from this guidance […]

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