TCF was (is) part of one of the Principles for Businesses: A firm must pay due regard to the interests of its customers and treat them fairly. That’s where it stops, everything else that supports TCF, the six customer outcomes…
The Bank of England has just released a suite of landmark policy and supervisory statements on third party risk management in banking and investment services, notably aimed at recognised payment system operators, specified service providers, and all Financial Market Infrastructures…
Did you see the PRA and FCA discussion paper on Diversity and inclusion in the financial sector and wonder what the heck does that have to do with the regulators? Have the regulators gone woke? Perhaps they have too much…
For decades regulators globally have relied on advice and disclosure to protect investors. Through root cause analysis of mis-selling and complaints, regulators are now finding that product governance is an area of the value chain that could more effectively enhance…
The regulator is increasingly asking to see your market abuse risk assessment and often at short notice. In this article we provide some tips on what you should be considering as you refresh your own market abuse risk assessment. It…
FCA has been investigating UK based brokers involvement in cum/ex dividend arbitrage schemes. As it progresses its investigation the FCA has been working with regulators around the world. The FCA investigation thus far has centred around four entities known as…
Now the fight is over a post-Brexit UK is looking at how it rises up to the challenge of having taken back control. We’ve taken a look at the recent report from the Taskforce on Innovation, Growth and Regulatory Reform…
The Financial Times has reported that BNP Paribas is facing mis-selling allegations over fx derivatives to Spanish corporate clients. It also reports that Deutsche Bank staff have also been facing allegations of mis-selling financial instruments. Both cases are familiar stories…
Negative indicators Positive indicators By now the process aspects of SMCR should be settling down into their own rhythm and the cultural aspects will be causing debate and driving change. If you are leaning more towards some of the negative…
In May 2021 the FCA instructed a firm based in Cyprus to add a warning to its website that it is not authorised to transact business in the UK. The firm was under the Temporary Permissions Regime and FCA intervened…