FCA’s Dear CEO on TTCA
On Friday (24 July 2020) the FCA sent out a Dear CEO letter to wholesale brokers. The letter was about use of title transfer collateral arrangements and the matched principal exemption. The FCA call to action is for all firms…
Katharine Leaman
$12.270 bn
Actually $12.42 bn is the total FX fines paid: 24 of which were levied on 5 banks, the “cartel banks” totalling $12.270bn Most of the rest were for use of customer information to rig transactions. This led to an erosion…
Countering market abuse
The FCA has been providing more reminders to firms to treat market abuse as a sub-set of financial crime. Both insider dealing and market manipulation are criminal offences. Both offences need some form of engagement with, or access to, financial…
No ongoing transaction reporting investigations
FCA has released some new transaction reporting data which rather surprisingly states there are still no Skilled Person reviews on transaction reporting and no ongoing investigations [in Enforcement]. Although FCA does make the point that the Final Notice issued to…