Building a blueprint for trust, innovation and a green future Last month, the Financial Conduct Authority (FCA) published its 2023/24 Business Plan, committing to build trust and drive innovation towards a sustainable financial system. The Plan aims to promote cultural…
Whisper sweet nothings in my ear, but let’s keep it clean. While I love hearing about your passion for the environment and your particularly impressive investments in sustainable projects, I don’t want to discover that behind the green facade, you…
Responsibility to counter crypto scams lies with each actor in the value chain, not just crypto exchanges; education could benefit consumers more than bans. WESTPAC’S EFFECTIVE BAN ON CRYPTO TRANSFERS Reading this article got me thinking about crypto-fraud prevention and…
Sheldon Mills – the FCA’s Executive Director, Consumers and Competition – gave a speech in which he focused on some key Consumer Duty observations, seeing as the main deadline is 31 July. The points he made were useful, of course,…
The new Consumer Duty feels different The changes the financial industry is implementing under the new Consumer Duty (‘the Duty’) feels very different to the usual big regulatory change projects we have been used to in previous years. The FCAs…
Tip One: Don’t assume you currently do enough This is more than TCF because TCF does not require that firms factor in behavioural biases at every aspect of the customer journey – like you need with the Consumer Duty. Moreover,…
In this blog we look at how management of compliance risk, and hence compliance departments, have evolved over recent decades and how they fit into ERM (Enterprise Risk Management) frameworks increasingly expected by regulators. History Financial institutions have always had…
OK, bear with me on this but there is a connection of sorts and using broad brush strokes I would characterise the links as off-balance sheet lending. If you have read any business pages in the last month it will…
You cannot outsource responsibility Engaging a third-party supplier or provider makes great commercial sense, it can bring expertise, efficiencies, or quickly achieve scale. Whatever your reasons for outsourcing and no matter who you choose to partner with, you will always…
Maybe its a myth or perhaps it doesn’t even matter? For many years it has been the mantra in the markets that FX ‘spot is unregulated’. Issues such as the WMR fixing scandal have brought this into focus as has…