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January 3, 2020
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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December 23, 2019
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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November 8, 2019
October Regulatory Update

By Kayne Osbourne MCSI | Uncategorized | 0 Comments

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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October 14, 2019
September Regulatory Update

By Kayne Osbourne MCSI | Uncategorized | 0 Comments

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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September 25, 2019
August Regulatory Update

By Kayne Osbourne MCSI | Uncategorized | 0 Comments

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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August 22, 2019
July Regulatory Update

By Kayne Osbourne MCSI | Uncategorized | 0 Comments

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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August 1, 2019
June Regulatory Update

By Kayne Osbourne MCSI | Uncategorized | 0 Comments

Assessing adequate financial resources – FCA Consultation Paper (CP19/20)  The FCA has published a Consultation Paper (CP19/20) on the purpose of, and the FCA’s approach to, its assessment of adequate financial resources for FCA solo-regulated firms. The Consultation Paper sets out: (i) the role of assessing adequate financial resources in minimising harm; (ii) what the […]

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June 14, 2019
May Regulatory Update

By Kayne Osbourne MCSI | Uncategorized | 0 Comments

FCA publishes final report in relation to RBS GRG The Financial Conduct Authority (FCA) has today published the final report on its investigation into Royal Bank of Scotland’s (RBS) treatment of small and medium-sized enterprise (SME) customers transferred to its Global Restructuring Group (GRG). While admitting it “clearly fell short of the standards its customers […]

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June 10, 2019
Regulatory Bulletin: New rules for P2P platforms

By Kayne Osbourne MCSI | Uncategorized | 0 Comments

FCA confirms new rules for P2P lenders In brief On 4th June 2019, the FCA published Policy Statement 19/14: Loan-based (‘peer-to-peer’) and investment-based crowdfunding platforms: Feedback to CP18/20 and final rules (PS19/14). The policy statement sets out the final policy positions the FCA have reached, taking into account feedback received in response to CP18/20. It also […]

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May 14, 2019
April Regulatory Update

By Admin | Uncategorized | 0 Comments

Our Regulatory Update is a monthly digest of significant regulatory developments affecting FCA-regulated firms. FCA changes mortgage advice rules to encourage consumer choice The FCA has recently published proposals for changes to its mortgage sales requirements which will help to give consumers more choice in how they buy a mortgage. The proposals are one part […]

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