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…
In the absence of FCA publishing its annual business plan at the start of its financial year, publication having been pushed back a quarter to June when it publishes its Annual Report, we have put together some of the main…
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…
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…
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…