Viewing post categorized under: Compliance
May Regulation Update
By Kyte Ekstrom | Brexit, Compliance, Crypto-Assests, ESG, FCA Inovation Hub, FCA Regulation, FinTech | 0 Comments
FCA Publishes Speech – Learning from Innovation The speech delivered by Nikhil Rathi, CEO of the FCA, provides the FCA’s perspective on what can be learned from the last 30 years; with a particular focus on innovation. Mr Rathi highlighted, among other things, that: digital skills will be integrated in all future financial services education, including […]
Read More
April Regulation Update
By Kyte Ekstrom | Compliance, Compliance Retainer Service, FCA Inovation Hub, FCA Regulation, FinTech, Uncategorized | 0 Comments
PRA Publishes Consultation Paper – Regulated Fees and Levies 2022/23 Consultation paper (CP4/22) is relevant to all firms that currently pay PRA fees or are expecting to do so within the 2022/23 fee year. The proposals relate to: Fees applicable to firms in the temporary regimes. Changes to the internal model application fees and the model […]
Read More
Operational Resilience – are you ready for World War Z?
By Kyte Ekstrom | Brexit, Compliance, Covid 19, E Money, FCA Regulation, Financial Industries, FinTech, Insurance, Investment, Operational resilience, payments | 0 Comments
Our operational resilience survival guide is here! Simon Hill, Compliance Manager at FinTech Compliance, details the FCA’s expectations to help you comply with the new rules and guidance which come into force on the 31st of March 2022. In December 2019 the FCA, Bank of England (BoE), and PRA (aka the Holy Trinity of regulation), […]
Read More
February Regulation Update
By Kyte Ekstrom | Compliance, FCA Regulation, FinTech, Head of Compliance, MLRO | 0 Comments
GENERAL REGULATION FCA Publishes Policy Statement – PS21/3 Building operational resilience In December 2019, the FCA, in partnership with the Bank of England (BoE), and PRA consulted on proposed changes to improve the operational resilience of the UK financial sector. From their findings the Bank then published a ’shared Final Policy Summary’. The new FCA rules and […]
Read More
Understanding the New Investment Prudential Regime – K-Factors & Capital Calculations
By Kyte Ekstrom | Compliance, FCA Regulation, FinTech, Investment, Investment Advisor, Investment Funds, Investment Manager | 0 Comments
The new regime has thrown a spanner in the works of all investment firms regulated by the FCA as it brings about BIG changes. The new requirements, which came into force on the 1st January 2022, seek to capture the potential harm posed by firms to their clients and the markets in which they operate. […]
Read More
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 […]
Read More
October Monthly Regulatory Update
By Kyte Ekstrom | AML, Compliance, FCA Regulation, FinTech | 0 Comments
GENERAL REGULATION FOS Publishes Updated Guidance – Compensation for Distress, Inconvenience or Other Non-Financial Loss The Financial Ombudsman Service (FOS) recently published updated guidance for both businesses and consumers concerning the compensatory awards for distress or inconvenience. Garry Wilkinson, Principal Ombudsman and Director of Investigation, confirmed in a FOS blog post that the updated guidance does […]
Read More
September Monthly Regulatory Update
By Kyte Ekstrom | Compliance, Crypto-Assests, FCA Regulation, FinTech, Investment, Investment Advisor, Investment Funds, News, Sustainable Investing, Uncategorized, Variation of Permission | 0 Comments
General TheCityUK Publishes Report Setting out Regulatory Strategy – Making the UK the Leading Global Financial Centre The report outlines an international strategy for the UK-based financial and related professional services industry. The aim is to make the UK the world’s leading international financial centre within five years. TheCityUK’s strategy takes a three-pronged approach, focusing on: […]
Read More
July Monthly Regulatory Update
By Kyte Ekstrom | Compliance, Financial Promotions, FinTech | 0 Comments
FCA Publishes Dear Chair Letter and Guiding Principles – ESG and Sustainable Investment Funds The Dear Chair letter (dated the 19th of July) is addressed to the chairs of authorised fund managers (AFMs). The letter sets out ways of improving the quality and clarity of authorised environmental, social and governance (ESG) and sustainable investment funds. The FCA […]
Read More
BIG Changes to Insurance Regulation
By Kyte Ekstrom | Compliance, FCA Regulation, FinTech, Insurance, Insurance Broker | 0 Comments
The FCA are making BIG changes to the way insurers and insurance distributors will have to review all of their policies and models. The FCA are planning on scrapping the idea of ‘price-walking’ (referring to when new insurance customers receive more competitive and cheaper premiums), as this contends the FCA’s objectives for a fair and […]
Read More