To become, and remain, authorised regulated firms must meet Threshold Conditions at all times. This article looks at some trends and changes that mean you really do need to be paying attention to how you are meeting Threshold Conditions. FCA…
We reported in our blog about the FCA supervisory approach for 2021 that their new CEO intends to build an FCA that is “fit for a more digital future”. This stems from the vast investments in technology made by his…
Overview On Tuesday 11th May the Queen’s Speech was read to the UK parliament in London, this sets out the government’s legislative agenda. It included an Online Safety Bill (also known as the Online Harms white paper) which will place…
The PRA and FCA are changing their rules from 31 March 2022. They say that you have less than 12 months to identify “impact tolerances for the maximum tolerable disruption and carried out mapping and testing to a level of…
Reporting suspicions to regulators is nothing new but it can often be done in silos, especially in larger firms where financial crime and market conduct risks are managed by distinct teams. Financial crime risk teams using information from STORs and…
The FCA has delayed publishing its annual business plan until June, alongside its Annual Report. This article covers FCA’s Supervisory Approach in 2021, highlighting key themes affecting all sectors. This article includes a few points about how FCA’s operating context…
Outsourcing and third party risk management have become focal points following the publication on 29 March 2021 of the Prudential Regulation Authority’s (PRA) Policy Statement PS7/21 and Supervisory Statement SS2 These documents establish new regulatory expectations for banks, investment firms,…
The FCA has published a speech delivered by Edwin Schooling Latter, their Director of Markets and Wholesale Policy. The speech covered the future regulation of the wholesale financial markets in the UK. We have read and digested it (so you…
Recently, at the request of a client we created a compliance risk assessment template for our online shop. As is often the case with product requests the person asking is not alone in their need and our risk assessment template…
As a reminder TFS – ICAP received fines of £3.4 by FCA and $7 million by the CFTC. Former senior managers Ian Dibb and Jeremy Woolfenden were fined $500,000 each and they agreed not to apply for registration for 5…