CP24/30 – Rule changes proposed by FCA to boost investment
As the UK transitions from EU-inherited financial regulations, the FCA is establishing a improved...
FCA Review of Consumer Duty Board Reports: Key Takeaways for Firms
The FCA has published a thematic review of 180 firms’ Consumer Duty board reports, shedding light...
FCA Financial Crime Guide Update – Key Takeaways
The FCA has published an update to its Financial Crime Guide following its consultation in April...
How championing the value premium could help end the platform race to the bottom
The UK’s investment platform market is facing twin challenges. New Consumer Duty regulations are...
FCA Issues £16.7m Fine to Metro Bank: Key Lessons in Transaction Monitoring
On 12 November 2024, the FCA fined Metro Bank £16.7 million for serious lapses in its transaction...
Unlocking financial inclusion through open banking and PSD3
Highlights from our webinar on how open banking and new regulations such as PSD3 could help boost...
Highlights from the UK government's National Payments Vision
The UK government has just released the National Payments Vision, which sets out a strategic...
Removing payment frictions: how to apply for a TRA exemption
A solution that can allow PSPS to relax security measures on certain transaction types: TRA...
Operational Resilience - The FCA, PRA, and Bank of England Publish a Joint Policy Statement
Lorraine Mouat reacts to The FCA, The PRA and The Bank of England's joint Policy Statement on...
Failure to Prevent Fraud (FTP) Guidance
The Home Office have just released long-awaited guidance to organisations on the offence of Failure...
The Autumn Budget 2024: Financial Services Impact Analysis
Thistle Initiatives explore the impact of the Autumn Budget on the Financial Services and...
FCA Wake-Up Call: The CrowdStrike Outage and the Urgency of Operational Resilience in Financial Services
The recent CrowdStrike outage underscores how crucial operational resilience is in today’s...
Breaking a fraudster’s spell
As the new era of financial security is unveiling for the UK’s PSR, it is vital that payment firms...
Reforms to the Financial Services retail disclosure requirements
Following the Treasury’s consultation on replacing the EU-inherited PRIIP regime with a new...
The FCA’s Payments Consumer Duty Multi-Firm Review: A Reflection On Change
On 9th October 2024, the FCA released a crucial update for payments firms across the UK – a set of...
The FCA's 'Dear CEO' Letter on APP Fraud Reimbursement: What Firms Must Do Now
On the 7th of October, the FCA issued a ’Dear CEO’ letter outlining clear and actionable...
Explained: The FCA’s Portfolio Letter on expectations for financial advisers and investment intermediaries
Our team of experts explore the expectations for financial advisers and investment intermediaries,...
The FCA’s Consumer Duty: how can firms better consider vulnerable customers’ needs?
Rohan Chakraborty explored how we identify the needs of a customer that distinguishes them as a...
APP Fraud Reimbursement Scheme comes into effect: what will the impact be?
The APP fraud reimbursement scheme came into effect October 7th 2024, launched by the PSR to...
CP24/19: The FCA’s consultation on reform to consumer credit regulatory returns
Last month the FCA took another step towards achieving its aim of becoming a more data-driven...
Five lessons from the Starling Bank FCA Final Notice
The FCA fined Starling Bank £28,959,426 on 2nd October 2024 for failings relating to AML and...
EU DORA v UK Operational Resilience
The key differences between EU DORA and UK Operational Resilience
What the changes to the safeguarding regime mean for payments and e-money firms
Payment Services Manager, Alejandra Gorria, dives into what exactly the FCA's safeguarding changes...
Safeguarding Series: the UK
In the first of the Safeguarding Series, we explore how different regulators approach safeguarding...
A question of liabilities – four sides to APP fraud reimbursement
An exploration into the four sides of APP fraud reimbursement and what the update means for...
Challenges with Open Banking
The key challenges that open banking faces and what they mean for the future of the financial...
Understanding Insurers' Valuation of Vehicles and Other Insured Assets
The FCA’s thematic review has highlighted concerns in the insurance industry, particularly in how...
Thematic Review Report TR24/2 explained
An expert review of the Financial Conduct Authority’s (FCA) Thematic Review Report TR24/2
UK Digital Payments Push: Innovation and Competition are the UK's Rocket Fuel
How innovation and competition could be the rocket fuel that will keep the UK's economy not just...
Navigating FCA Requirements: Unspoken Rules for Payment Services and E-Money Firms
A look at areas that the FCA may not explicitly emphasise but are critical for your firm’s...
Monitoring Consumer Duty Outcomes Using Management Information
Article from Huw Reynolds on how to use Management Information (MI) to monitor Consumer Duty...
It’s summer at last and things are hotting up!
We’ve mentioned on several occasions that the FCA is more proactively targeting firms with whom...
Sustainability Disclosure Requirements: Distributor Obligations
The Sustainability Disclosure Requirements apply to asset managers and will apply yo portfolio...
The Anti Greenwashing Rule
On 31st May 2024 the FCA’s Anti-Greenwashing rule came into effect.
Saudi Arabia's Consumer Protection Principles: an overview for Payment Services Providers
In the rapidly evolving financial landscape of Saudi Arabia, consumer protection has emerged as a...
The importance of firm-wide risk assessments
Why you need to consider firm-wide risk assessments for your business and how Thistle Initiatives...
Overview of Sustainability Disclosure Requirements
Overview of initiatives aimed at providing consistency in the UK Financial Sector when it comes to...
The FCA tells firms to do more to ensure fair treatment for PEPs
Following concerns about how firms in the UK are meeting due diligence requirements on PEPs, the...
An overview to Overseas Funds Regime (OFR)
In July 2024, the FCA set out in its Policy Statement PS 24/7 the final rules and guidance...
Fact Find Documents: the weakest link?
Why are so many firms using a fact find that doesn’t do the job it was intended to so? And why are...
Labour's big plans to champion financial services
Lorraine Mouat, Head of Payment Services at Thistle Initiatives explores Labour's Big Plans and the...
Information Commissioner’s Office: Cyber Security Document
The ICO’s recent report makes for informative and interesting reading.
Information for principals with overseas appointed representatives
In June 2024, the FCA issued information about the challenges and expectations for principal firms...
Thistle Initiatives Newsletters - June 2024
Here's an overview of our monthly newsletter updates of our capital sectors - June 2024
‘No change’ reviews – a problem?
There’s much in the financial press recently about ongoing reviews, and we’ve provided our fair...
Capacity for loss – how do you define it?
As regular readers of our articles will be aware, we’ve covered Capacity for Loss (CfL) numerous...
DC – DC. Bigger than DB – DC?
The Pension Freedoms, as they’re called, were introduced in 2015 and when combined with...
Tick tock, tick tock…
Geoffrey Chaucer is credited with the phrase “Time and tide waits for no man” (although The Rolling...
Thistle Initiatives Newsletters - May 2024
Here's an overview of our monthly newsletter updates of our capital sectors - May 2024
FCA fines HSBC £6.2 million over treatment of customers in financial difficulty
In May 2024, the FCA fined HSBC UK Bank plc, HSBC Bank plc and Marks and Spencer Financial Services...
Dear CEO letters on Consumer Duty - closed products
In May 2024, the FCA issued six new Dear CEO letters concerning the Consumer Duty requirements for...
Back to basics
If you read the industry press regularly you could be forgiven for thinking that the provision of...
FCA Update Financial crime is changing and so is our guidance for firms
In April 2024, the FCA consulted, in its CP 24/9, on proposed changes to its Financial Crime Guide.
Stubborn issue?
It was really just a matter of time before it happened following the implementation of Consumer...
How the FCA Dear CEO letter will impact the IFA M&A market?
With the introduction of the current regulatory changes such as capital and liquidity adequacy, and...
FCA confirms anti-greenwashing guidance and proposes extending sustainability framework
As we move into 2024, the raft of sustainability-related regulation continues to increase at pace...
EU expands AML regulation
In April 2024, the European Parliament passed legislation aimed at bolstering the EU's anti-money...
Thistle Initiatives Newsletters - April 2024
Here's an overview of our monthly newsletter updates of our capital sectors - April 2024
Principal firms who have Credit Broking permissions: Good practice and areas for improvements
In April 2024, the FCA assessed and publicised the key harms and drivers of harm caused by...
TR 24/1 – wider connotations?
In our previous article covering the FCA’s thematic review of retirement income advice (TR24/1) we...
FCA statement regarding motor finance firms financial resources
In April 2024, the FCA wrote to motor finance firms to remind them they must maintain adequate...
FCA researches borrowers' ability to repay and issues Policy Statement and guidance
In April 2024, the FCA issued research on and provided comments and a Policy Statement and...
TR 24/1 - What did it tell us?
The long-awaited FCA Thematic Review (TR24/1) on Retirement Income Advice has finally landed (on...
Asset management: common errors when applying for authorisation
In April 2024, the FCA listed and reported on some common issues experienced with recent asset...
Periodic Suitability Assessments - Have Elements Been Overlooked?
With all the palaver that’s going on in the industry right now and the press reporting on...
FCA Requests Information From Firms On Ongoing Advice Services
In February 2024, the FCA wrote to a number of financial adviser firms with a survey requesting...
FCA Publishes Update On Strategy To Reduce Financial Crime
Eighteen months into its 3-year strategy aimed at reducing and preventing financial crime, the...
FCA expectations for Loan-based Peer-to-Peer Lending platforms
In January 2024, the FCA issued a Portfolio Letter to peer-to-peer lending firms that outlines the...
FCA reviews motor finance commissions
In January 2021, the FCA banned discretionary motor finance commission.
Major Regulatory Shift: Money Laundering Regulations Update
In a significant move that promises to sharpen up financial crime risk management, the UK...
BNPL users charged late payment fees
In January 2024, it was reported that a survey carried out for the education charity the Centre for...
FCA Webinar - Consumer Duty: The Next Steps
In January 2024, the FCA held a webinar on the Consumer Duty – Next Steps.
UK signs Berne Agreement with Switzerland
In December 2023, the UK signed the Berne Agreement with Switzerland. The agreement uses...
The PSR's Final Stand On APP Fraud Reimbursement
An announcement from the Payment Systems Regulator (PSR) on the 19th of December 2023 has confirmed...
FCA Writes To Firms About The Treatment Of Retained Interest
In December 2023, the FCA wrote a Dear CEO letter to investment platforms and SIPP operators...
Future of Payments
In November this year, HM Treasury (HMT) published a report, ‘The Future of Payments Review 2023’,...
12 months on from FCA Policy Statement 22/11
In August 2022, the FCA issued its Policy Statement PS 22/11 Improvements to the Appointed...
Webinar Q&A's - The Similarities & Differences Between FCA & DFSA Regulation
Thistle Initiatives and Clarity Consulting Solutions recently partnered to conduct an insightful...
FCA and Government seeking views on three proposals
In December 2023, the FCA and Government sought views, in Discussion Paper DP 23/5, as part of the...
3 UK Regulators Issue Paper CP 26/23 On Operational Resilience
In December 2023, the FCA, the PRA, and the Bank of England jointly issued their consultation paper...
FCA sets out credit information market improvements
In December 2023, the FCA announced in its Market Study MS 19/1 a range of measures intended to...
FCA seeks views on regulatory approach for overseas funds
In November 2023, the FCA, in preparation for the new Overseas Funds Regime (OFR), set out its...
What Do Senior Managers Need To Be Aware Of In An FCA visit?
During any visit that it makes to a firm, the FCA will expect engagement from the firm’s senior...
FCA Requires Personal Investment Firms To Hold Capital
In November 2023, the FCA announced in its Consultation Paper CP 23/24 proposals to require...
FCA publishes final report on IFPR implementation
The IFPR and the corresponding prudential standards under MIFIDPRU began on 1 January 2022. The...
Safeguarding Your Payments and E-Money Business from FCA Enforcement Powers
In the realm of UK Payments and e-money services, an area subject to increased scrutiny from the...
The Future of Payments: Exploring the Implications of PSD3 for UK Payment Services Firms
The financial landscape is constantly evolving, and as we approach the implementation of PSD3...
What investors should expect in Jeremy Hunt's Autumn Statement
On 22nd November 2023, Chancellor Jeremy Hunt issued HM Government’s Autumn Statement, covering its...
HM Treasury amends HNW and sophisticated investor definitions for financial promotions
In November 2023, HM Treasury consulted on changes to the thresholds for categorising the...
FCA reviews its approach to secondary consumer credit brokers
In November 2023, the FCA announced that it had recently reviewed its interpretation of the...
FCA brings proceedings against unauthorised and fraudulent mortgage advisers
In November 2023, unauthorised mortgage adviser Larry Barreto was found guilty of 11 charges of...
FCA reviews firms' anti-payment fraud systems
In November 2023, the FCA reported that while its multi-firm review of firms’ fraud controls and...
FCA marketing guidance for crypto firms
In November 2023, the FCA published new non-Handbook guidance (FG 23/3) to support crypto firms in...
The FCA issue a Dear CEO letter to wealth managers and stockbrokers
In November 2023, the FCA issued a Dear CEO letter setting out its assessment of the wealth...
The FCA and Bank of England publish proposals for regulating stablecoins
The FCA and the Bank of England requested feedback on their proposed approach, set out in their...
FCA issues financial promotions quarterly data 2023
In November 2023, the FCA issued a summary of the data generated between 1 July 2023 and 30...
Economic Crime and Corporate Transparency Act: What financial institutions need to know
In October 2023, the Economic Crime and Corporate Transparency Act (the ECCTA) received Royal...
Consumer Duty: Not once and done
In November 2023, the FCA reported a speech given by Nisha Arora, its Director of Cross-Cutting...
PSR publish APP fraud performance data
In October 2023, the Payment Services Regulator published 2022 performance data covering the...
FCA secures contract charges for BNPL customers
In October 2023, the FCA announced that it had agreed deals with two buy now pay later (BNPL)...
The FCA identifies common issues with crypto marketing
In October 2023, the FCA publicised that it has been supervising crypto firms since 8 October based...
First Supervisory Notice to London Court Limited
In October 2023, the FCA issued a First Supervisory Notice imposing certain requirements on London...
FCA review of Money mules
In October 2023, the FCA publicised the key findings arising from its multi-firm review of payment...
FCA Is Making Improvements To The Authorisation Application
In October 2023, the FCA announced that it is making improvements to the application process for...
The FCA addresses the AIF and NURS regimes
In October 2023, the FCA announced, in a speech given to the Investment Association, that it has...
Financial Watchdog Fines Equifax Ltd £11 Million
In October 2023, the FCA announced that it had fined Equifax Ltd £11,164,400 for failing to manage...
FCA crypto promotion alerts
In October 2023, the FCA announced that it had issued 146 alerts about cryptoasset promotions on...
FCA fine ADM Investor Services
In October 2023, the FCA fined investment brokerage firm ADM Investor Services International...
FCA Publicises Funeral Plan Sector Priorities For 2023 - 2025
In September 2023, the FCA publicised its funeral plan firms sector priorities for 2023-2025. It...
FCA financial resilience survey - October 2023
In September 2023, the FCA asked a number of firms to complete a survey to help the regulator...
End of implementation period for debt packager referral fee ban
In October 2023, the FCA again publicised that its Policy Statement and Final Rules on the debt...
Dear CEO Letter - Supervision Strategy For Corporate Finance
The FCA issued in September 2023 a Dear CEO letter to corporate finance firms, outlining its...
Navigating CrossBorder Payment Challenges - Insights from the FSB
In today's global business landscape, diversity and inclusion have become essential pillars for...
CP23/20: Shaping Tomorrow's Financial World
In today's global business landscape, diversity and inclusion have become essential pillars for...
Ready For Crypto Assets – Will You Meet FCA Expectations?
We said that crypto assets would fall under tougher financial promotions rules when they are...
FCA Gateway For Approving Unauthorised Financial Promotions
The FCA announced in September 2023 that regulated firms approving financial promotions for...
A Review Of Later-life Mortgages Finds Poor Advice
In September 2023, the FCA reported that in a review of later-life mortgage firms, it had worked...
Regulating Crypto Assets – The FCA’s Approach To Regulation
Regulating Crypto Assets – The FCA’s approach to crypto regulation will look like from a regulatory...
FCA Review Of The Treatment Of Domestic PEPs By Financial Services Firms
Earlier this month the Financial Conduct Authority (FCA) announced that they would conduct a review...
The Consumer Duty one month on
As of the end of August 2023, the FCA's Consumer Duty has been in existence for a month for current...
Government Fine Company £1million In Breach Of Russian Sanctions
In August 2023, the UK government fined a company £1 million for breaching Russian sanctions.
FCA Finds Fund Managers' Value Assessments Have Improved
In August 2023, following a review that it carried out of 14 authorised fund managers’ value...
FCA Sets Out Expectations For UK Cryptoasset Firms
The FCA has released its expectations that UK cryptoasset businesses will comply with the new...
Proposed rules for non workplace pensions
In December 2022, the FCA set out in its Policy Statement PS 22/15 the final rules intended to...
FCA financial promotions quarterly data 2023 - Q2
In August 2023, the FCA provided a summary of data generated between 1 April 2023 and 30 June 2023...
Consumer Duty And Carrying Out Price And Value Assessments
With the Consumer Duty now applying to all firms having a direct or indirect relationship with...
Consumer Duty Webinar Part Four - Consumer Support
In our fourth and final webinar of this 4 part series, we looked at the Consumer support outcome...
Consumer Duty Webinar Part Three - Consumer Understanding
In our third webinar of this 4 part series, we looked at the consumer understanding outcome under...
FCA guidance consultation on social media usage
The FCA plans to take another significant step in 2023 in its work to combat illegal and...
Navigating The Impact Of Mandatory APP Fraud Reimbursement
As authorised push payment (APP) fraud continues to rise in the UK, regulatory measures are being...
FCA review of liquidity management in asset managers
In July 2023, the FCA reported on its recent multi-firm review of liquidity management in fourteen...
Financial Services & Markets Bill Proposes Changes To Legislation
The current Financial Services and Markets Bill proposes certain changes to union legislation in...
Are you ready for the cryptoasset financial promotions regime?
In July 2023, the FCA issued a letter to crypto firms entitled Cryptoasset firms marketing to UK...
Consumer Duty Webinar Part Two - Price And Value Outcome
In our second webinar of the series we examined the Price and Value outcome under the Consumer Duty...
Insider Insights: Tips For Smooth Interaction With The FCA
Navigating the FCA's regulatory landscape can be challenging, but with the right approach, it can...
Consumer Duty Webinar Part One - Products And Services Outcome
We examined the Products and Services outcome under the Consumer Duty and answered your questions...
FCA introduces new rules for marketing cryptoassets
In June 2023, the FCA announced in its Policy Statement PS 23/6 new rules that mean crypto firms...
FCA bans referral fees for debt packages
In June 2023, the FCA announced that it is banning, through its Policy Statement 23/5, certain...
The FCA’s Assessing Suitability Review (Part 2) Is Happening
Since 2015, the FCA has seen a seismic shift in people drawing their pension savings flexibly.
FCA warns of impending Consumer Duty deadline
In May 2023, with fewer than ninety days to go until the start of the Consumer Duty, the FCA has...
Recommendations for The Next Phase of Open Banking in the UK
In April 2023 the Financial Conduct Authority (FCA) and the Payment Services Regulator (PSR)...
What the Prime Minister’s Fraud Strategy means for you
In May 2023, the UK Government issued a new Policy Paper describing its fraud strategy for 2019 to...
Multi-occupany leasehold insurance reforms
In May 2023, the FCA proposed, in its Consultation Paper CP 23/8, new rights and protections for...
Changing The Scope Of The Financial Resilience Regulatory Return
In May 2023, the FCA announced that it is consulting on changes to the scope of firms that provide...
Transforming The Future Of Transactions With The Digital Pound
The Bank of England and HM Treasury have presented a consultation paper to Parliament entitled:...
Proliferation financing
Proliferation financing refers to the act of providing funds or financial services for use, in...
Payments Services With A Purpose: Embracing ESG
In its recent ‘Dear CEO’ letter, the FCA clarified its commitment to supporting the financial...
SMCR & The Expectation For FCA To Apply This To Payment Services
The impetus for introducing the Senior Managers and Certification Regime (SMCR) derived originally...
FCA Market Abuse Peer Review Of CFDs And Spread Bets
In April 2023, the FCA reported in its Market Watch publication on its recent market abuse peer...
Green mortgages present consumer vulnerability risk
David Geale, Director of Retail Banking at the FCA, gave a speech on green mortgages and consumer...
MLTF Regulations 2022 - Material Discrepancies
Money laundering and terrorist financing pose a serious threat to the global financial system, and...
DP 23/3 Review of the Senior Managers and Certification Regime
In December 2022, the Government announced, as part of the Edinburgh Reforms, that the Treasury,...
Reforms to the financial promotions exemptions
The UK government is consulting on proposals to amend the financial promotion exemptions available...
10 Things Firms Need To Consider - Fair Price & Value Outcome
The new FCA rules relating to the Consumer Duty Regulation will come into force, for firms that are...
Cryptoasset Firms To Prepare For Financial Promotions Regime
In April 2023, the FCA publicised that all cryptoasset firms marketing to UK consumers, including...
FCA sets clear plan for next 12 months
In April 2023, the FCA announced that, in the second year of its three-year strategy, it plans to...
Economic Crime Plan
In March 2023, HM Government published its second Economic Crime Plan, covering the period 2023 to...
FCA Annual Financial Crime Reporting (REP-CRIM) support
Banks, building societies, companies engaged in MiFID activity, and companies dealing in...
The necessity of compliance - Toqio
One of the hottest topics in fintech right now is related to processes that need to occur prior to...
FCA follows up on High Risk Investments
In late 2022, the FCA engaged with firms, via roundtable sessions, in the run-up to the...
FCA refuses authorisation to two funeral plan providers in 2022
In July 2022, the FCA issued a Decision Notice to One Life Funeral Planning Ltd, refusing the...
UK Treasury consults on Consumer Credit Act reforms
For almost fifty years, the Consumer Credit Act 1974 (CCA) has ensured effective regulation for...
FCA Proposes Stricter Regulations To Protect Consumers
In December 2022, the FCA proposed new measures to clamp down on illegal, unfair or misleading...
FCA warns BNPL firms about misleading promotions - Update
In August 2022, in its Dear CEO letter, the FCA warned firms and merchants offering Buy Now Pay...
Operational resilience
At the end of 2019, the PRA and FCA publicised a joint Consultation Paper on Operational...
FCA about to clamp down on the marketing of high-risk investments to consumers
In August 2022, the FCA finalised, in its Policy Statement 22/10, stronger rules to help tackle...
FCA obtains High Court judgment against unauthorised mortgage brokers
In November 2022, the FCA announced that it had obtained a High Court against London Property...
TPR Deadline Nov 22
In its October 2022, regulation roundup, the FCA announced that EEA-based firms in the temporary...
Appointed Representatives 165 request
As part of the improved reporting requirements, the FCA will be sending principal firms a Section...
Temporary permission regime deadline
In its October 2022, regulation roundup, the FCA announced that EEA-based firms in the temporary...
Gatehouse - was their Anti-money laundering fine avoidable?
On 12 October 2022, the FCA (“the Authority”) issued a Decision Notice, whereby they imposed a...
One in eight consumers have experienced BNPL fraud in UK
In November 2022, the specialist fraud prevention firm Call sign issued a study of 2,000 UK...
Changes to crypto regulation on the horizon
On 20 July 2022, the Financial Services and Markets Bill was introduced into Parliament. As the...
Financial promotions quarterly data 2022
When it issued its Q3 2022 financial promotions quarterly data in November 2022, the FCA disclosed...
£12 million compensation to be paid to thousands of struggling borrowers
The FCA expects lenders to learn the lessons from good and poor practices during the coronavirus...
Overcoming the challenges of payment services compliance
The way we all pay for goods and services has changed radically over the past few decades. The...
FCA authorisations update October 2022
In October 2022, the FCA issued an authorisations update. This update covers the regulator’s...
Credit Information Market Study
In October 2022, the FCA issued an update on its now restarted Credit Information Market Study (MS...
High cost lenders
In October 2022, the FCA issued a Dear CEO letter that sets out the regulator’s updated view on the...
Market Watch 70
In its Market Watch 70, the FCA outlines some recent observations on the transaction reporting and...
Consumer Duty – information for firms
In October 2022, in an update intended to help firms implement the Consumer Duty, the FCA explained...
FCA Consumer Duty webinars
In September 2022, the FCA announced that it is hosting a series of sector-based webinars in...
Notice of upcoming FCA mandatory information request – Wealth Management & Stockbroking
In September 2022, the FCA provided advanced notice of a mandatory (section 165) information...
Critical Third Parties to the financial services sector
In August 2022, the Bank of England, the PRA and the FCA published a joint discussion paper, DP...
First Supervisory Notice to Morgan Ingram Associates Limited
In January 2022, the FCA publicised a First Supervisory Notice (FSN) issued to Morgan Ingram...
FCA commentary on mortgage lending statistics Q2 2022
The FCA and the PRA jointly publish mortgage lending statistics every quarter; in September 2022,...
FCA issues online survey to principal firms of AR networks
In October 2021, the FCA issued an on-line survey to a sample of principal firms of AR networks....
Early and high growth oversight financial promotions webinar
The FCA’s Early and High Growth Oversight team within Authorisations is hosting a series of...
Top 8 Requirements for FCA Approved PSP Compliance - Comply Advantage blog series
All financial institutions that operate in the UK must be authorized by the Financial Conduct...
FCA launches its new Consumer Duty, with an initial milestone for firms in October 2022
In July 2022, the FCA confirmed in its publications PS 22/9 and FG 22/5 its plans to bring in a new...
FCA warns BNPL firms about misleading promotions
In August 2022, in its latest Dear CEO letter, the FCA warned firms and merchants offering Buy Now...
Alternative Supervisory Strategy Dear CEO letter
In August 2022, the FCA issued a Dear CEO letter to firms operating in the alternatives sector that...
FCA Redress Scheme and Dear CEO Letter – British Steel Pension Scheme
In December 2021, the FCA’s Board asked for a consultation to be prepared on a redress scheme under...
The Bank of England’s Financial Policy Committee withdraws its affordability test recommendation
In 2014, the Bank of England’s Financial Policy Committee introduced 2 recommendations to guard...
What are the key risks and requirements for firms dealing with vulnerable customers?
The FCA published in 2021 its final guidance FG 21/1, clarifying its expectations of firms in...
Advertising Standard Authority Ruling on the Golden Leaves
In August 2022, the Advertising Standards Authority (ASA) investigated two issues in relation to a...
FCA whistleblowing quarterly data
In August 2022, the FCA issued data showing the number of new whistleblowing reports received...
FCA confirms new rules to improve oversight of Appointed Representatives
In August 2022, the FCA confirmed in its Policy Statement PS 22/11 new rules to make principal...
FCA clamps down on marketing of high-risk investments to consumers
The FCA has finalised stronger rules to help tackle misleading financial promotions that may...
FCA refuses authorisation to funeral plan provider
The FCA recently issued a Decision Notice to One Life Funeral Planning Ltd, refusing the firm’s...
Financial promotions quarterly data 2022 Q2
The FCA has issued data, covering 1 April to 30 June 2022, concerning its most recent action...
Upper Tribunal Crypto exchange
It was announced in July 2022 that the Treasury Committee has launched an inquiry into cryptoassets...
Treasury Committee launches inquiry into cryptoassets
The business of Vladimir Consulting Limited (VCL) involves trading in cryptocurrency such as...
The TJM Partnership Limited is fined £2 million by the FCA for financial crime control failings
In July 2022, the FCA fined The TJM Partnership Limited (in liquidation) £2,038,700 for failing to...
Money Laundering Regulations Changes
HM Treasury conducted a consultation between 22 July and 14 October 2021, inviting views and...
Making Buy Now Pay Later terms clearer and fairer
Early in 2022, the FCA reviewed the customer contracts of a small sample of Buy Now Pay Later...
FPC removal of affordability assessment requirement
In 2014, the Bank of England’s Financial Policy Committee (FPC) introduced two recommendations to...
FCA supervisory strategy for debt advice firms
In June 2022, the FCA issued a Dear CEO letter outlining its supervisory strategy for the debt...
The FCA’s 2021 whistleblowing campaign – just how effective has it been?
In March 2021, the FCA launched a campaign called ‘In confidence, with confidence’, intended to...
Regulation of Buy-Now Pay-Later response to consultation
In October 2021, HM Treasury published a consultation paper setting out the policy options to...
FCA supervisory strategy for lifetime mortgage providers
In June 2022, the FCA issued its supervisory strategy for lifetime mortgage providers. The FCA has...
The FCA has issued Consultation Paper CP 21/36 on its proposed Consumer Duty
In December 2021, the FCA issued its Consultation Paper CP 21/36 on the proposed Consumer Duty,...
P2P firms: Are you ready for an FCA audit?
The P2P market has been a roller-coaster the past few years, with a combination of several market...
The FCA is using advanced analytics and new sources of data to identify inappropriate financial adverts
In June 2022, the FCA provided an update on its data strategy, showing the progress it has made in...
FCA supervisory strategy for mainstream consumer credit lenders
In June 2022, the FCA issued a Dear CEO letter in which it explained that it had reviewed the key...
FCA issues First Supervisory Notice on Colbourne & Company
On June 2022, the FCA issued a First Supervisory Notice imposing a number of restrictions on...
Permission Buster: A guide to the FCA authorisation process for investment firms
For financial institutions looking to become directly authorised as investment firms by the...
Funeral Plan Regulations
In March 2021, the FCA launched a consultation on its proposal for introducing regulation to the...
Understanding the FCA’s Threshold Conditions - ComplyAdvantage blog series
Authorisation from the Financial Conduct Authority (FCA) is the most crucial step for early-stage...
Lenders offering Buy-Now Pay-Later (BNPL) and related products to be FCA regulated
In June 2022, HM Treasury announced that lenders offering Buy-Now Pay-Later (BNPL) products, which...
New Payments Architecture
The New Payments Architecture (NPA) is intended to create a retail payment infrastructure that will...
The FCA fines TFS Loans Limited
In June 22, the FCA announced in a Final Notice that it had fined TFS Loans Ltd (a firm in...
FCA policy statement PS 22/6 on Claims Management Companies
In June 2022, the FCA issued its Policy Statement PS 22/6 in relation to claims management...
HM Treasury BNPL (buy-now-pay-later) regulation consultation closed
In October 2021, HM Treasury published a consultation paper setting out the policy options to...
The Secrets of an AML Audit - ComplyAdvantage blog series
An anti-money laundering (AML) audit is often viewed as a source of stress for compliance teams,...
FCA issues Market Watch 69
In its Market Watch 69, issued in May 2022, the FCA discusses firms’ arrangements for market abuse...
FCA to speed up removal of firms that do not use their regulatory permission
The FCA announced in May 2022, with the issue of its Policy Statement PS22/5, that it is to use new...
European Commission taking the temperature of whether PSD2 is still fit for purpose
As at May 2022, the European Commission is seeking market feedback on open finance rules1 and...
Questionable practices by firms around reverse solicitation
The ESMA, the EU’s securities markets regulator, issued in Jan 2020 a Public Statement to remind...
Navigating financial regulation and compliance with ease - Currencycloud blog series
Navigating the world of the UK’s financial services regulation and compliance can be a daunting...
UK Government to revoke EU financial regulations
In May 2022, the UK Government announced its plans to revoke EU financial services regulations and...
The FCA's investment platform costs and charges review May 22
The FCA believes that consumers should be able to easily identify and understand their investment...
FCA warns businesses to stop misleading credit adverts
In its Dear CEO letter issued in May 2022, the FCA has warned lenders and credit brokers to stop...
FCA Early and High Growth Oversight approach
The FCA announced following a successful pilot with 32 newly authorised firms across a range of...
Lessons to be learnt from the FCA’s recent Financial Crime control review
The FCA published its most recent review of financial crime compliance controls observed as part of...
FCA warns it intends to look at the equity release and lifetime mortgage advice market
The FCA warns that it intends to look again at the equity release/lifetime mortgage advice market...
FCA launched its new strategy for 2022 to 2025
In April 2022, the FCA launched its new strategy for 2022 to 2025, intended to improve outcomes for...
TR22/1 Observations on wind-down planning liquidity, triggers & intragroup dependencies
Thematic Review TR22/1 reiterates FCA’s expectation that firms will have adequate financial &...
HM Treasury confirms regulation of stablecoin use
New legislation to bring certain stablecoins into the UK payments framework, as well as projects to...
EU lawmakers back tougher crypto AML rules
The European Parliament voted in favour of the Transfer of Funds Regulation, which would outlaw...
ESG investing – what are the regulatory options? - update
The increasing popularity of sustainable and responsible investing has resulted in regulatory and...
FCA announces launch of Innovation Pathways and CryptoSprint
New FCA unified firm support service ‘Innovation Pathways’ will play key role in ensuring...
FCA fines GAM International Management and former Investment Director Timothy Haywood
The FCA fined asset manager GAM International Management Limited £9,103,523 for failing to conduct...
FCA announces an extension to 31 March deadline – Temporary Registration Regime (TRR) for crypto firms
The FCA announces an extension to the 31 March 2022 deadline for certain Temporary Registration...
The Wholesale Markets Review
On 1 March 2022, HM Treasury published its response to its consultation on the Wholesale Markets...
British Steel Pension Scheme – FCA Redress Scheme
In 2021, the FCA’s Board had asked for a consultation to be prepared on a redress scheme under s404...
FCA confirm changes to PRIIPs regulation
The FCA confirmed in its PS 22/2 certain changes to the Packaged Retail & Insurance-based...
FCA operational resilience (PS 21/3) - deadline 31 March 2022
The FCA published a shared final policy summary on requirements to strengthen operational...
FCA CP22/2: Strengthening financial promotion rules for high risk investments, including cryptoassets
In November 2021, the Advertising Standards Authority (ASA) announced that it was investigating...
FCA custody and fund services supervision strategy
In March 2022, the FCA issued a Dear CEO letter outlining its supervision strategy for custody and...
What important changes does your BNPL firm need to action right now ahead of upcoming regulation?
BNPL regulation changes are incoming! HM Treasury closed its consultation on 6 Jan 2022 and...
Government to act against paid-for scam ads online
UK Government announced a crackdown on paid-for internet scam advertisements, as part of its wider...
Russian invasion of Ukraine: operational and cyber resilience
FCA points for firms to consider regarding operational & financial services cyber security...
First credit rating agencies portfolio letter
The FCA issued the letter to all firms in the CRA portfolio to communicate what it expects CRAs to...
First credit rating agencies portfolio lette
In Feb 2022, the FCA issued its first portfolio letter to credit rating agencies (CRAs). The FCA...
FCA consumer investments data review
FCA's 3rd consumer investments data review, covering the period from Apr to Sep 2021 and provides...
FCA whistleblowing data 2021 Q4
Data issued by the FCA in Mar 2022 shows number of new whistleblowing reports it had received...
Employee fraud increases
KPMG’s latest published biannual UK Fraud Barometer disclosed that cases of fraud by employees rose...
UK announces a tranche of sanctions in relation to Russia
UK announces a tranche of sanctions in relation to Russia. Full details available on the Foreign,...
How are you coping with the FCA’s new Form A (and supporting documentation)?
Some firms, apparently, not made aware of additional assessment requirements applying to Senior...
FCA Announcement and Dear CEO Letter – British Steel Pension Scheme
FCA’s Board asked for consultation on a redress scheme... for former members of the BSPS who...
Development of the Pensions Dashboard
FCA proposed, in its CP 22/3, new rules requiring FCA regulated pension providers to connect &...
FCA focuses on social media influencers
The FCA issued a financial promotions compliance update describing its action taken in 2021 against...
Regulation For Cryptoasset Providers - What You Need To Know
Following the implementation of 5MLD, bringing with it the first steps in crypto regulation, there...
What the FCA expects from heads of compliance and MLRO applicants
The FCA issued guidance, based on its experience of Senior Manager applications, intended to help...
FCA transforming data collection
FCA reporting is seen as one of the most demanding parts of regulation & the quality of data...
FCA appropriateness test changes cost impact on P2P lenders
FCA issued its CP 22/2 consultation on financial promotions for high-risk investments, which...
FCA authorisation for temporary permissions regime (TPR) firms
FCA issued in Jan 2022 an update on its website in relation to FCA authorisation requirements under...
FCA to strengthen financial promotions rules
FCA issued, its CP 22/2 on the promotion of high-risk financial products. We can help with...
Help with FCA authorisation and compliance support
The 2021 regulatory approach shows points of interest both for firms intending to apply for FCA...
New FCA authorisation, registration and Variation of Permission (VoP) application fee structure
The FCA set out, in its PS 22/1, the new structure for FCA authorisation application fees that will...
HM Treasury is preparing for the future regulation of BNPL (buy-now-pay-later) products
HM Treasury published a CP setting out the policy options to achieve a proportionate approach to...
FCA Investment Firms Prudential Regime webinar recap
The Investment Firms Prudential Regime (IFPR) is the new prudential regime for FCA investment...
IFPR Exempt CAD MiFID firms FCA prudential category - January 2022 update
The Investment Firm Prudential Regime (the IFPR) is intended by the FCA to simplify and harmonise...
FCA Decision Notice against hedge fund for conflicts of interest failings
The FCA Supervision has also imposed a requirement on BlueCrest to pay redress to clients who have...
ASA bans ‘misleading’ and ‘irresponsible’ crypto ads
In Nov 2021, the Advertising Standards Authority (ASA) announced that it was investigating various...
AML warnings raised at a third of UK EMIs as ‘major gateway’ for illicit funds
The anti-corruption campaigning organisation Transparency International UK warned in its published...
FCA fines increase nearly four-fold
In December 2021, law firm RPC released data showing that FCA fines had increased nearly fourfold...
TCFD: FCA publishes finalised proposals on climate-related disclosure rules
TCFD: The FCA published in June 2021 new proposals on climate-related disclosure rules for listed...
HM Treasury consultation on financial promotions exemptions
In Dec 2021, HM Treasury published a consultation on the financial promotions compliance exemptions...
2020 AML penalties hit $2.2 billion - crackdown on financial crimes
Financial crime compliance - Kroll’s annual Global Enforcement Review 2021, issued in December...
FCA issues Consultation Paper CP 21/36 on proposed Consumer Duty
FCA issued its Consultation Paper CP 21/36 on the proposed Consumer Duty, intended to ensure a...
Funeral plan regulation – December 2021 update
Funeral plan regulation: The FCA published on its website more information for funeral plan (FP)...
90% of UK crypto exchanges’ FCA authorisation applications are ‘withdrawn or refused’
In December 2021, it was reported in the financial press that the FCA chief executive Nikhil Rathi...
The Financial Ombudsman Service launches an action plan to change and improve consumer complaint handling
The Financial Ombudsman Service (FOS) plays a significant role in the UK’s financial system; since...
Restricting claims management companies’ charges for financial products and services claims
In November 2021, the FCA set out in its Policy Statement 21/18 new rules for claims management...
FCA plans to increase the minimum periodic fee for regulation
In November 2021, the FCA set out in its Consultation Paper 21/33 its plans to increase the fees...
90% of UK crypto exchanges FCA authorisation apps withdrawn or refused
Cryptoasset compliance: Report in the financial press - 90% of FCA authorisation applications from...
Changes to UK MiFID firms’ conduct and organisational requirements
MiFID firms: In Nov 2021, the FCA announced, in its PS 21/20, changes intended to ensure that the...
Financial Ombudsman Service action plan: consumer complaint handling
Financial Ombudsman Service is intended to be a one-stop service for consumer complaints, providing...
FCA & Practitioner Panel publish findings from their 2021 joint survey
In December 2021, the FCA and the Practitioner Panel published a report from their 2021 joint...
Restricting claims management companies’ charges - financial products
In Nov 2021, the FCA set out in its PS 21/18 new rules for claims management companies (CMCs),...
Concerns over advice firms with claims management permissions
Concerns over advice firms with claims management permissions, in an article published in November...
Emoney compliance - Final rules for SCA-RTS
Emoney compliance - The FCA set out final rules for its Regulatory Technical Standards on Strong...
FCA issues Policy Statement 21/16 to tackle consumer harm
The FCA issued in November 2021 its Policy Statement PS 21/16, Issuing statutory notices – a new...
FCA Authorisation - FCA issues PS 21/16 to tackle consumer harm
FCA Authorisation - The FCA issued in Nov 2021 its PS 21/16, Issuing statutory notices – a new...
HM Treasury is preparing for the future regulation of buy-now-pay-later products
HM Treasury has published a consultation paper setting out the policy options to achieve a...
Funeral plan regulation - November update
The FCA has published more information for funeral plan (FP) providers and intermediaries. The...
FCA proposes ban on debt packager referral fees to protect consumers
In November 2021, the FCA proposed, in its consultation paper CP 21/30, banning debt packager firms...
FCA First Supervisory Notice to Marvell Enterprises Limited
In a First Supervisory Notice issued in November 2021, the FCA announced with immediate effect the...
FCA fines Sunrise Brokers LLP for serious financial crime control failings
In November 2021, the FCA fined interdealer broker Sunrise Brokers LLP over £600,000 for deficient...
FCA consults on guidance for the funeral plans sector
The FCA had consulted on its draft rules and guidance for the funeral plans sector and proposed...
FCA Investment Firms Prudential Regime webinars
The Investment Firms Prudential Regime (IFPR) is the new prudential regime for FCA investment firms.
Financial Crime update November 2021
Top credit institutions are at it again but the FCA is on to them. NatWest and Credit Suisse have...
REP-CRIM data results: the good, the bad and the ugly
Since 2017, the FCA has been requesting firms to provide an annual Financial Crime Data return,...
How can my firm become FCA regulated in the UK?
The Financial Conduct Authority (FCA) is the conduct regulator for around 51,000 financial services...
FCA DP 21/4 labelling ESG Investment products - Thistle Initiatives
In Nov 2021, the FCA published its Discussion Paper DP 21/4, inviting views on potential criteria...
FCA reporting - six-monthly complaints data - Thistle Initiatives
FCA reporting - In October 2021, the FCA published its six-monthly complaints data. The FCA...
European Commission proposes new harmonised rules for non-EU firms
In November 2021, the European Commission proposed new harmonised rules for non-EU firms (banks and...
FCA publishes Discussion Paper DP 21/4 - labelling ESG Investment products
FCA publishes Discussion Paper DP 21/4 - labelling ESG Investment products
Regulatory Technical Standards on Strong Customer Authentication and Secure Communication
Regulatory Technical Standards on Strong Customer Authentication and Secure Communication
FCA issued online survey to principal firms of AR networks
The FCA issued an on-line survey to a sample of principal firms of Appointed Representatives...
FCA published its climate change adaptation report
The FCA has published its climate change adaptation report. Setting out what the FCA has seen the...
IFPR Exempt CAD MiFID firms FCA prudential category update
The forthcoming Investment Firm Prudential Regime (IFPR) is intended by the FCA to simplify and...
FCA Perimeter Report calls for legislative change to protect consumers
Key points identified in the report are around appointed representatives, SMCR compliance and...
FCA fined Credit Suisse for serious financial crime compliance failing
The FCA fined Credit Suisse over £147m for serious financial crime compliance due diligence...
Omar Hussein pension switching advice failings
FCA prohibits Omar Hussein former director at CWL from working in financial services. We can help...
Remote or hybrid working expectations for firms
The FCA set out its expectations concerning working in a remote environment and firms adapting...
Senior Managers & Certification Regime update
Senior Managers & Certification Regime, implemented for solo-regulated firms, firms should consider...
FCA publishes its six-monthly complaints data
FCA publishes its six-monthly complaints data
FCA prohibits IFA & mortgage adviser for fitness & propriety failings
September 2021, the FCA prohibited financial adviser Anthony George from performing any regulated...
Key regulatory changes in 2021 follow up
In this blog, we have provided our follow up, where available, to the key regulatory changes...
FCA sets out plan to tackle investment harm
FCA authorisation - the FCA published a new strategy aimed at giving consumers the confidence to...
UK data protection law reform advocates ‘privacy management’
The Department for Digital, Culture, Media and Sport issued a public consultation on potential...
First Supervisory Notice to Sentor Solutions Commercial Limited
FCA issued a First Supervisory Notice in relation to Sentor Solutions Commercial Ltd (SSCL) in Sep...
EU and UK move towards the “travel rule” implementation for cryptoassets
The European Commission published a proposed cryptoasset compliance regulation on the transfer of...
FCA to move faster to remove unused firm permissions
FCA draft guidance in CP 21/28 on new power that allows faster removal of regulatory FCA...
Periodic review of pension transfers redress guidance
FCA Finalised Guidance 17/9 sets out how firms should calculate pension transfers redress to be...
Green finance and financial inclusion
Fintech Week London, held in July 2021, highlighted the key areas of green finance and financial...
Loan-based Peer-to-Peer platforms FCA Dear Board of Directors letter
FCA published Dear Board of Directors letter (originally issued in May 2021) to Boards of...
Lead generation firm Lead Technologies Ltd secures FCA authorisation
Lead Technologies (Europe) Ltd trading as Lead Tech, a Yorkshire-based lead generation company,...
FCA Portfolio strategy letter on investment-based crowdfunding
In August 2021, the FCA issued a Dear CEO letter to firms that it believes are active in the...
Whistleblowers make 2,754 allegations of financial misconduct to FCA
In August 2021, data on whistleblowing report cases drawn from the FCA's Annual Report and Accounts...
FCA Decision Notice against Markos Markou for lack of oversight
The FCA published a Decision Notice in respect of Markos Markou, the Director and Chief Executive...
FCA Digital Sandbox second phase
FCA Digital Sandbox - The FCA is running a second phase of the Digital Sandbox with the City of...
Funeral plan regulation update
Funeral plan regulation - The FCA has consulted on its draft rules and guidance for the funeral...
Amendments to the MLRs 2017 Statutory Instrument 2022
HM Treasury amendments to Money Laundering, Terrorist Financing & Transfer of Funds Regulations...
FCA stops BDSwiss offering contracts for differences to UK customers
FCA acted to stop Cyprus-based trading firm, BDSwiss Holding Plc & other members of BDSwiss Group...
First Supervisory Notice to Cavendish Incorporated Limited
First Supervisory Notice - FCA imposed a requirement on Cavendish Incorporated Limited, with...
Financial promotions quarterly data 2021 Q2
Financial promotions quarterly data - The FCA issued data showing the number of financial...
Matched Principal exemption
The Matched Principal exemption from the regulated activity of dealing as principal will no longer...
FCA takes action against debt packager firms
Following an FCA review of the practices of debt packager firms, it was announced in July 2021 that...
FCA consults on post-Brexit divergence for PRIIPS regulation
The FCA set out, in its CP 21/23, proposals to change disclosure documents provided to retail...
Guiding principles of ESG & sustainable investment funds
The FCA issued a letter to the chairs of AFMs, setting out its expectations on the design, delivery...
FCA Business Plan 2021/22
The FCA Business Plan 2021/22, issued on 15th July 2021. It's the first annual plan since Nikhil...
IFPR Exempt CAD MiFID firm FCA prudential category
Forrthcoming Investment Firm Prudential Regime (IFPR) intended to simplify & harmonise capital &...
Fund managers falling short on assessing the value of their funds
FCA announced review of 18 fund managers identified most had not implemented Assessments of Value...
Consumer credit information sheets updated by FCA
The FCA has published revised consumer credit information sheets on its webpage. Section 86A of the...
Due diligence for onboarding an agent or third-party provider
Firms licensed to undertake regulated activities must conduct appropriate due diligence when...
The Markets in Financial Instruments (Capital Markets) Regulations
On 30 June 2021, the Markets in Financial Instruments Regulations 2021 were published on the...
Google Policy Update Financial Services Advertising in the UK
Google will be updating its Google Ads Financial Products & Services policy in Aug 2021 to...
Framework for Approval of Financial Promotions Consultation Response
HM Treasury issued in June 2021 its Regulatory Framework for Approval of Financial Promotions...
FCA published new proposals on climate-related disclosure rules
The FCA has published in June 2021 new proposals on climate-related disclosure rules for listed...
Authorised Fund Management firms governance and operations
Authorised Fund Management - FCA require host Authorised Fund Managers (AFMs) to improve standards...
FCA announce credit broking survey
Credit broking survey - The FCA announced in June 2021 that its pilot survey sent to 300 credit...
FCA says 60 firms in line for DB past business reviews
It was reported that the FCA had identified nearly 60 advice firms which it says should carry out...
Dear CEO letter on AML control failures
AML control failures - Dear CEO letter to retail banks concerning common themes noted in the FCA’s...
ICO gets powers to conduct financial investigations
Financial investigations - The Information Commissioner’s Office (the ICO) is beginning to flex its...
New power to vary or cancel regulatory permission
FCA CP 21/16, to amend Handbook as it relates to the variation and cancellation of regulatory...
FCA extends Temporary Registrations Regime deadline for crypto firms
FCA announced that it is extending the end date of the Temporary Registrations Regime (the TRR) for...
FCA stops EverFX offering Contract for Differences (CFDs) to UK
FCA First Supervisory Notice to stop ICC Intercertus Capital and other members of EverFX from...
PRIIPs regulation has now been onshored
The FCA confirmed that the Packaged Retail and Insurance-Based Investments Products Regulation (the...
Regulation of investment consultants
FCA consulting on recommendation issued by Competition & Markets Authority (CMA) to bring...
The FCA has issued a Dear Board of Directors letter to P2P platforms
Dear Board of Directors letter addressed to the boards of P2P lending firms in order to set out its...
FCA will no longer be accepting Change of Legal Status applications
From 1 June 2021, the FCA will no longer be accepting Change of Legal Status applications. Instead,...
Deadline extension for Strong Customer Authentication
The FCA extended its deadline for implementing Strong Customer Authentication (SCA) for e-commerce...
All reporting firms moved to FCAs new data collection platform RegData
In May 2021, RegData fully replaced Gabriel as the FCA’s data collection platform after a lengthy...
Dear CEO Letter ensure customers understand how money is protected
Customer money - FCA Dear CEO letter to the CEOs of e-money firms, asking them to write to their...
FCA proposes stronger protection for consumers in financial markets
In May 2021, the FCA set out in its consultation paper CP 21/13 its plans for a new non-statutory...
Greensill Capital Founder apologises for collapse of firm
FCA has disclosed that it is investigating how two Greensill Capital companies failed, and how one...
FCA to issue Credit Broking Permission Survey
The FCA will send a survey to all firms holding the credit broking permission & will help in its...
FCA consultation on fund to support investment in long-term assets
FCA consultation on proposals for a new category of authorised fund, the long-term asset fund...
FCA fines Sapien Capital for financial crime control failings
Financial crime control failings - FCA fined Sapien Capital £178,000 for failings leading to the...
FCA sets out proposals to strengthen its financial promotion rules for high-risk investments
Following feedback to its Call for Input on Consumer Investments, the FCA has in April 2021...
Regulation of non-transferable debt securities
The Government is consulting on proposals to bring the issuance of non-transferable debt securities...
FCA to strengthen financial promotion rules for high-risk investments
FCA proposes to strengthen its financial promotion rules for high-risk investments in order to help...
Changes to UK MiFID’s conduct and organisational requirements
Consultation Paper CP 21/9, covers changes to two areas of the conduct and organisational rules in...
Social Entrepreneurship Fund & Registered Venture Capital funds
Onshored version of EU’s EuVECA, EuSEF & ELTIF Regulations apply to UK Alternative Investment Fund...
Firm with FCA authorisation will have to use it or lose it
FCA authorisation - Charles Randell underlined in his speech that the FCA needs to make sure that...
FCA commences criminal proceedings for fraud and unauthorised business
FCA criminal proceedings - In April 2021 the FCA commenced criminal proceedings against Larry...
UK adds Pakistan to 21 high-risk states list
UK Government has added Pakistan to the list of 21 high-risk countries with unsatisfactory money...
FCA bans and fines financial adviser for lacking honesty and integrity
The FCA fines and bans Simon Varley from working in financial services for knowingly performing a...
Passporting into Gibraltar – the state of play
Passporting into Gibraltar: Firms that previously benefited from outward passports into other EU...
FCA publicly censures Alsford Page & Gems Limited (APG)
FCA publicly censured Alsford Page & Gems (APG). The firm will pay compensation to customers who...
FCA stops FXVC offering CFDs to UK customers
In Apr 2021 the FCA acted to stop Cyprus-based firm, Finteractive Limited (trading as FXVC), from...
ESG investing – what are the regulatory options?
ESG investing - In the not too distant past, environment, social and governance (ESG) and...
Finalised guidance for advising on pension transfers
New FCA guidance provides non-Handbook guidance to help advisers understand the expectations of...
Increase in whistleblowing reports to the FCA
Whistleblowing reports - The number of whistleblower reports made to the FCA regarding activities...
Financial promotions quarterly data
Quarterly data released by the FCA in April 2021 shows the number of financial promotions amended...
New FCA online fees portal
New FCA online fees portal launched on 12 April 2021 for users to access their invoices and arrange...
Final rules on building operational resilience published
In December 2019, the FCA consulted in its consultation paper CP19/32 on proposed changes to how...
Extension of Annual Financial Crime Reporting Obligation
The FCA’s Policy Statement PS 21/4, proposes to increase the number of firms that need to submit...
Digital payments company Wirex anti-money laundering controls
Wirex has voluntarily paused the onboarding of new UK clients at the request of the FCA in order to...
What are the key market abuse risks for firms using remote working?
Market abuse risks: The report shows that before the coronavirus crisis, just over 4 per cent of...
Why is culture and remuneration a key issue for regulated firms?
FCA update on culture & remuneration: Andrew Bailey, the former CEO of the FCA, commented in a 2019...
24HR Trading Academy unlawfully advised on investments
In March 2021 the High Court delivered a summary judgement in proceedings commenced by the FCA,...
FCA publishes Decision Notice against Jon Frensham
The FCA published in March 2021 a Decision Notice in respect of Jon Frensham, an IFA and the sole...
FCA announces new whistleblowing campaign
A new FCA whistleblowing campaign called In Confidence With Confidence, intended to encourage...
Trade-based money laundering risk indicators
FATF joined forces with Egmont Group to release a report highlighting key indicators around...
FCA warns of risks facing new generation of DIY investors
The FCA has warned, in March 2021, that younger and more inexperienced investors are taking on...
Flexibility on RTS 27 reports and 10% depreciation notifications
The FCA is, from March 2021, putting in place temporary measures with respect to RTS 27 reports and...
NatWest money laundering enforcement
Money laundering enforcement: Criminal proceedings against National Westminster Bank in respect of...
FCA imposed restrictions on Dolfin Financial (UK) Ltd
The FCA imposed a number of restrictions, on Dolfin Financial (UK) Ltd, stopping the firm from...
The implications of increasing the contactless payments limit to £100
The FCA has confirmed it is changing its rules to increase the single-transaction contactless...
Key regulatory changes expected to be implemented in 2021
We have researched and summarised some of the key regulatory changes relevant to various types of...
Final notice: Premier FX case study - part 2
Premier FX case study - part 2: Premier FX was approved to undertake solely money remittance...
Chancellor Rishi Sunak announces The UK 2021 Budget
On 3rd March 2021, Chancellor Rishi Sunak MP presented the 2021 Budget. We have identified the key...
Premier FX case study - part 1
We are publishing a series of five short case studies based on the final notice published by the...
The Kalifa Review of UK FinTech
The Kalifa Review of UK FinTech, an independent review produced by Ron Kalifa, a Bank of England...
FCA product governance review
The FCA’s MiFID II product governance review, the findings from which were published in February...
FCA publicly censured money remittance firm Premier FX Limited
The FCA publicly censured money remittance firm Premier FX Limited in February 2021 for failing to...
What are the key risks for firms dealing with vulnerable consumers?
The FCA published its final guidance FG 21/1, clarifying its expectations of firms in relation to...
What are the regulatory risks for firms in implementing technology?
We can help you with your technology governance and risk management approach. Call us on 0207 436...
How the UK Financial Conduct Authority assesses international firms
UK regulator (FCA) published in Feb 2021 its approach to authorisation & supervision of...
Key conduct risks for investment firms dealing with consumers
Investment firms: In Feb 2021, the FCA issued its annual Consumer Investments Data Review for 2020....
Consumer credit regulation update – major changes may be on the way
Consumer credit regulation update: The FCA published, in Feb 2021, a report on change & innovation...
What next for fintech regulation in 2021?
In this update, we preview some of the key fintech-related regulation likely to be rolled out over...
FCA consultation paper CP21-3: changes to the SCA-RTS
The FCA is, in Feb 2021, proposing in its CP21-3, various changes to the Strong Customer...
Regulatory due diligence: vital in acquiring an FCA-regulated business
A look back in time at payday lender Wonga’s 2018 demise serves as a reminder of how important...
Half of reporting firms moved to FCA’s new data collection platform
New FCA data collection platform: The FCA reported in Jan 2021 that 50% of firms are now using...
FCA reminds firms to regularly review regulatory permissions
The FCA reminded firms of their obligation to regularly review their regulatory permissions to...
HM Treasury consultation on cryptoassets and stablecoins
HMT consultation - On 7 January 2021, HM Treasury published its consultation paper on the UK...
FCA Market Watch 66
In its most recent Market Watch 66, published in Jan 20, the FCA sets out its expectations for...
Financial resilience surveys: significant number of firms could fail
The FCA published in January 2021 the results of its coronavirus financial resilience surveys sent...
The EEA states’ post-Brexit temporary permissions regimes
After the end of the Brexit transition period, some EEA member states have been specific about the...
FCA fines Charles Schwab UK £8.96 million
In December 2020, the FCA fined Charles Schwab UK Ltd (CSUK) £8.96 million for failing to...
Response to FCA independent reviews
FCA independent reviews: In Dec 2020, the FCA responded to the two recently issued independent...
5MLD temporary crypto regime
FCA established, from 16 Dec 2020, a 5MLD temporary crypto regime to allow existing cryptoasset...
Financial Advisers Capital Adequacy Information Request
Financial Advisers Capital Adequacy Information Request: Following its Coronavirus Financial...
FCA consultation on new prudential regime
The FCA’s new consultation paper, CP 20/24, is the first of three in preparation for the UK...
The FCA confirms speculative mini-bond mass-marketing ban
The FCA has confirmed in its PS 20/15, issued in Dec 2020, its earlier proposals to permanently ban...
The RegTech Forum - a series of online events hosted by the FCA
The RegTech Forum aims to bring together the RegTech ecosystem to explore relevant issues and...
FCA announces benefits of new data collection platform RegData
RegData will at the end of 2020 replace Gabriel as the FCA’s data collection platform. Read more...
FCA to charge for SM&CR changes and hike new firm fees
The FCA is set to increase application fees & also to begin charging for change of control...
Review of adviser capital adequacy
The FCA is asking for details of outstanding FOS complaints & potential legal liabilities as part...
Nausicaa Delfas speech on Brexit implications for firms
As firms will know, the Brexit transition period is due to end on 31 Dec, with potentially...
FCA Authorised Corporate Directors (ACDs) conflicts probe
It was identified in Nov 20 that the FCA is investigating eleven fund firms as part of its review...
FCA bans 3 individuals from working in the financial services industry
In Nov 2020, the FCA banned former Approved Persons Russell David Jameson, Mark Horsey & Frank...
Changes to open banking identification requirements
The FCA announced changes to open banking services, permitting UK-based third-party providers...
FCA will maintain a directory of certified and assessed persons
Under the SM&CR, the FCA will publish and maintain a directory of certified and assessed persons on...
The Money Laundering Regulations are now applicable to cryptoasset firms
The Money Laundering Regulations are now applicable to cryptoasset firms, specifically to exchange...
The FinCEN files have branded the UK financial industry to be a high-risk jurisdiction
A considerable amount of controversy has arisen from the FinCEN files leak. Read our blog to find...
How firms should focus their anti-market abuse work during the pandemic
A speech given on 12 Oct by Julia Hoggett, Director of Market Oversight, conveying the FCA’s view...
New rules banning the sale of crypto derivatives
The FCA has published, in its Policy Statement PS 20/10, final rules banning the sale to retail...
New FCA Brexit transition period rules
The FCA has published an updated version of its Handbook to show the rules that will apply at the...
New FCA data collection platform RegData replaces GABRIEL
RegData is the new FCA data collection platform, replacing the GABRIEL system and is intended to...
SM&CR annual reporting
The SM&CR introduced a new annual reporting requirement which firms must complete and submit to the...
FCA announced proposals to ban the marketing of speculative illiquid securities, including mini-bonds
We've helped a number of companies to ensure that any financial promotions for mini-bonds & the...
New CBDF rules
The CBDF rules (CBDF Directive) introduced a new harmonised definition for "pre-marketing" in the...
FCA DB transfer feedback
The FCA is undertaking thirty enforcement investigations arising from concerns identified in the...
Assessment of Value reports
The FCA is holding discussions with fund firms to ascertain whether they are complying with the...
Dear CEO Letter: increased client money balances
The FCA issued a Dear CEO letter to firms in relation to their client money holdings, under the...
How are you preparing for your firm’s SM&CR and conduct rules training?
If you’d like to know more about how we can help you with your SM&CR and conduct rules training,...
Will you comply with the FCA’s best practice guidance on vulnerable consumers?
The FCA issued in early August new best practice guidance (GC 20/3) for firms to do more to protect...
Could your fintech firm be involved in driving the recovery from coronavirus?
The FCA and the City of London Corporation will collaborate on the pilot of a digital sandbox to...
Did you know that the FCA will soon have extended powers to cancel firms’ authorisations?
The Government will grant new powers to the FCA which will overhaul the way it can cancel...
Are you ready for the new financial promotions rules?
HM Treasury is consulting on how the FCA deals with financial promotions for unauthorised firms by...
Need help in understanding the FCA’s supervision and enforcement methods?
If you’d like to know more about how we can help with your FCA supervision and enforcement...
Do you need to review your authorisation as an AIF manager?
Asset management firms (AIF) may need fresh authorisation to continue to manage UK collective...
Are you ready for an FCA review of fund managers’ distributors?
In January 2020, Andrew Bailey said that the FCA intended to examine how firms are implementing the...
FCA portfolio strategy letter sent to authorised payment institutions & e-money issuers
The FCA has issued a Dear CEO portfolio strategy letter to APIs and EMIs, explaining how it expects...
Are you familiar with the SM&CR implementation periods for solo-regulated firms?
The deadline for solo-regulated firms to undertake the first assessment of the fitness and...
Is your investment or payment services firm up to date on ICT and security risk management?
On 28 Nov 19, the EBA published final guidelines on ICT & security risk management for credit...
Are you preparing for the FCA’s new data collection platform, RegData?
The FCA is now preparing to gradually move firms across to its new data collection platform,...
Is your understanding of the FCA’s capital adequacy requirements up to date?
The FCA has published a discussion paper, DP 20/2, on a proposed prudential regime for UK...
How well do you assess your customers’ creditworthiness?
The FCA recently started an investigation into Amigo Loans to examine whether its assessments of...
FCA fines Commerzbank London over anti-money laundering failures
FCA fined Commerzbank’s London branch £37,805,400 for failing to put adequate anti-money laundering...
FCA permanently bans promotion of mini-bonds to retail investors
The FCA announced proposals to make permanent its ban on the marketing of speculative illiquid...
How well do you assess the adequacy of your firm’s financial resources?
The FCA is publishing its final guidance (FG 20/1) on a framework to help financial services firms...
Responding to the FCA’s payment services safeguarding consultation
The FCA proposed temporary guidance on strengthening payment firms’ Prudential Risk Management and...
Cryptocurrency regulation: threat or opportunity?
All firms engaging in cryptocurrency related activities must now embed adequate AML controls for...
Are your mini-bond oversight arrangements up to scratch?
Firms dealing with mini-bond promotions directly or via a principal/AR relationship need to be...
Are your staff’s CPD arrangements up to date and comprehensive?
The FCA will temporarily allow firms to let individuals in defined and exceptional circumstances...
Are your FCA authorisation applications up to scratch?
We advise on FCA applications for all types of firms across most areas of activity & as a result,...
Are you preparing for the FCA Directory?
The FCA Directory is the new publicly available register for checking the details of key people...
Are you preparing for the FCA Regulatory Initiatives Grid?
The Financial Services Regulatory Initiatives Forum has launched an initiative to help firms...
Is your complaints handling up to scratch?
The FCA has recently issued a statement clarifying its position on firms’ complaints handling in...
AIMA requests clarification from FCA over AIFM transition period
The AIMA mailed the FCA, to secure clarity on the implications of the end of the Brexit transition...
Is your understanding of FCA Gabriel reporting good enough?
In view of the impact of coronavirus, the FCA has introduced some temporary measures for firms...
The funds industry may be set for a fresh regulatory wave and the advent of 'systematic importance'
The funds industry may be set for a fresh regulatory wave and the advent of 'systematic...
What is the FCA looking for from firms today?
In this blog, we look at some of the key issues facing firms today & those currently attracting the...
Have you seen the FCA Business Plan and fees consultation?
The FCA has recently set out in its 2020/21 Business Plan its priorities for the year ahead, with a...
Dear CEO Letter: Coronavirus - firms providing services to retail investors
The FCA issued its latest Dear CEO letter to retail firms at the end of March, providing...
Are you ready for the FCA's new data collection platform?
The FCA’s new data collection platform will replace the current platform Gabriel and is intended to...
The coronavirus (COVID-19) pandemic
As the coronavirus (COVID-19) pandemic advances in the UK, we’ve made suggestions on how regulated...
Financial Ombudsman Service award limit adjustment from 1 April 2020
The FCA has stated that, from 1 April 20, it will adjust both Financial Ombudsman Service award...
Are you ready for the FCA’s new Form A?
Are you ready for the FCA’s new assessment requirements on SM&CR Firms and their Senior Managers,...
FCA firm resilience information requests
The FCA’s Client Assets and Resolution department issued an e-mailed resilience information request...
The Forthcoming Overseas Funds Regime
The Government is now proposing a streamlined regime for overseas funds, based on an equivalence...
COVID-19 prompts FCA scrutiny of firms’ contingency plans
FCA announced it's working with the Bank of England & Treasury to ensure financial services sector...
Sector Views analysis: How does the FCA see your sector?
Sector Views is an annual analysis by the FCA looking at changes in the regulated financial...
ICO Codes of Conduct & Certification schemes: firms data accountability
In February 2020, the ICO published guidance for firms looking to develop GDPR Codes of Conduct or...
ICO Codes of Conduct & Certification schemes: firms data accountability
The Information Commissioner’s Office (ICO) recently launched two services designed to help firms...
Are you protecting your firm against hacking?
Hacking is an ever-present threat for businesses of all types & sizes. Our specialist payment...
Are you ready for the FCA’s Financial Services Directory?
The FCA’s public-facing online directory of professionals working in financial services (Financial...
eIDAS certificates deadline now just weeks away
The ‘adjustment period’ granted by the FCA that gave TPPs and ASPSPs extra time to implement Strong...
FCA warns asset managers on poor governance and failure to deliver value
In a Dear CEO letter to asset managers issued on 23 Jan, the FCA suggests asset managers are not...
FCA warns financial advisers over inadequate financial resources and PII cover
A Dear CEO letter published on 21 January argues that, by their failure to hold adequate financial...
Is your cryptoasset business now prepared for regulation?
The FCA is now the AML and CTF supervisor for businesses carrying out certain cryptoasset...
Gabriel is being replaced: How will this affect your firm?
The FCA’s Gabriel platform is over a decade old and it is showing its age. Its 120,000 individual...
FCA’s approach to AML regulation of firms’ cryptoasset activity
From 10 January 2020, the FCA will be the anti-money laundering and counter-terrorist financing...
The promotion of speculative mini-bonds to retail consumers
The FCA has announced it will ban mass marketing of “speculative” mini-bonds to retail customers....
FCA takes on AML supervision for Cryptoassets sector
The EU’s 5MLD comes into force on the 10 January 20. The Treasury has charged the FCA with AML...
Is your business Brexit-ready?
With the latest Brexit deadline of Oct 31, 2019, now just days away, it’s hard to offer any...
The FCA puts P2P firms on notice
Are you a P2P firm? The FCA has sent a letter to more than 60 peer-to-peer lenders warning them to...
The EBA’s new outsourcing guidelines - What do they mean for your business?
There are new outsourcing guidelines issued by the European Banking Authority (EBA) that come into...
FCA confirms new rules for P2P platforms
The FCA is introducing rules [via PS 19/14] designed to prevent harm to investors, without stifling...
FCA cuts payment services firms some slack on SCA rules
The FCA announced that payment services providers have a little longer to prepare for certain...
Mandatory annual Connect update for all firms is coming
Mandatory annual Connect update of authorised firms’ details in line with their accounting ref date...
FCA guidance on current cryptoassets regulation
On 31st July 2019, the FCA published its Final Guidance PS 19/22, which sets out the cryptoasset...
Cryptoassets regime, FCA is to supervise in the future
A cryptoasset regime will be established with support from the FCA to create one of the most...
What can we learn from the FCA’s consultation paper on CP19/20?
The FCA recently issued a consultation paper on its proposed approach to assessing adequate...
Crypto-derivatives sales ban proposed by the FCA
FCA is proposing in its Consultation Paper CP 19-22, issued in July 2019, rules to address harm to...
Fintech Start-ups: Are you ready willing and organised?
So you have your business idea, you’ve done the groundwork, putting in the hours day and night –...
Wealth Management and Stockbroking - FCA Priorities
In its latest Dear CEO letter (featuring wealth management and stockbroking regulation), the FCA...
Property Lending Sector: FCA Regulatory Review
The FCA has recently focused its gaze on property finance firms (property lending sector) in the...
Capital markets money laundering risk gets the thematic review treatment
The FCA has completed a thematic review looking at money laundering risks and vulnerabilities in...
Asset managers face new rules on shareholder engagement
We provide compliance support for asset managers to meet the new FCA PS 19/13 requirements which...
Senior Managers: Are you Fintech fit enough?
Fintech Approved Person - what does the FCA actually mean when it requires and assesses whether...
The FCA and misleading financial promotions
The FCA has written to regulated firms about how seriously it treats the misleading financial...
£102 million FCA fine for failings in Anti-Money Laundering (AML)
The FCA has imposed a £102,163,200 fine on Standard Chartered Bank for Anti-Money Laundering (AML)...
FSCS Compensation - Have You Made Appropriate Changes?
If a firm becomes insolvent, the FSCS compensation scheme may be able to compensate its clients for...
How to sell insurance add-ons compliantly
Don’t be put off selling insurance add-ons, we can help you develop a compliant sales process and...
P2P firms – have you thought about your wind-down arrangements?
The FCA have published their latest ‘Dear CEO’ letter, targeting P2P firms and their wind-down...
UPDATE - Brexit briefings for regulated firms
The FCA will shortly be hosting two March briefings for regulated firms in preparation for the UK...
FCA Policy Statement 19/4
Policy Statement 19/4 is set to improve the quality of information available to investors in...
CASS Update
There are no significant CASS regulatory changes in the pipeline however it is important for firms...
MiFID II - A Year On
A year on since it's implementation, here are the biggest challenges firms have faced so far in...
The Five Common Mistakes Made By Fintech Startups
Our fintech team have recognised five key mistakes which can adversely impact any Fintech start-up...
Fund managers face forthcoming limited partnerships reform
Fund managers will need to alter their existing practices to comply with reforms to UK limited...
CP 18/21 - improving conduct standards & comms in the Payment Services and E-Money sectors
The FCA's CP 18/21 consults on rules and guidance intended to improve conduct standards and...
Autumn Budget 2018
The Autumn Budget 2018 includes various issues relating to Thistle clients; Brexit, taxations, PFI...
The FCA’s Green FinTech Challenge
The FCA’s Green Fintech Challenge is aimed at firms developing green solutions that need specific...
EMI Thematic Review
In October 2018, the FCA published its EMI thematic review into money laundering and terrorist...
Data breach sanctions imposed in October 2018
This month saw two noteworthy data breaches highlighted by significant regulatory sanctions,...
ESMA CFD Update
The latest ESMA update agrees to renew the restriction on the marketing, distribution or sale of...
FCA Live & Local restarts in September
From September 2018, the FCA live & local events will take place aross the UK for regulated firms...
Data Breach Over-Reporting
Many businesses are disclosing minor personal data breaches to it in the mistaken belief that they...
Brexit letters from overseas regulators
Pending a late Brexit agreement, all outward passports will become unavailable and firms will need...
Track My Application (TMA)
Track My Application (TMA) will help Connect users keep track of their FCA application and...
New P2P Lending Rules Proposed
The Financial Conduct Authority has proposed new P2P lending rules in its Consultation Paper CP...
SPI Re-Registration Key Considerations
Small Payment Institutions re-registration deadline is 12th October 2018. SPI re-registration key...
Dear CEO Brexit letter
The FCA has said UK firms will be given some flexibility when deciding how best to ensure that they...
The Global Financial Innovation Network
The FCA has announced the creation of the Global Financial Innovation Network (GFIN), building on...
Market Abuse Controls in Asset Management Firms
Certain asset management firms have been asked to respond to an online FCA questionnaire regarding...
Small Payment Institutions Re-Registration
SPIs re-registration application is due by 12/10/2018. We can support you with the application...
FCA Investment Platform Review
Competition is working well for most consumers using investment platforms, according to the interim...
Revised FCA Approach Document
The FCA has published version 2 of its Approach Document on payment services and electronic...
Fund Manager Value Statements
With over a year to go until the FCA’s deadline, fund groups are already lining up how they will...
FCA Sandbox Cohort 4
The FCA announced on 3rd July 2018 the 29 firms that were successful in their applications to begin...
Investment Suitability Controls
The suitability of firms’ investment advice and portfolio management decisions remains a hot topic...
LEI Transition Period Ends
ESMA have confirmed the LEI transition period allowing for a smooth introduction of the use of...
FCA Change of Address
The FCA’s registered address will formally change on 1st July 2018, please use this address when...
FCA Adviser T&C Review
The FCA has recently written to adviser firms asking for details of their training, competence and...
GDPR Update
Some recently issued industry research shows that some advisers may be underprepared for the...
FCA Asset Management Costs and Charges Template
The template set up by an FCA panel for the disclosure of asset management transaction costs and...
AIFMD Cross-Border Marketing Update
The EC recently published a proposed Directive and a proposed Regulation amending the AIFMD and...
FCA Business Plan 2018/19
The priorities in this year’s FCA Business Plan reflect the high level of resource the FCA needs to...
ESMA CFD and Binary Options Update
The European Securities and Markets Authority has introduced a series of measures to restrict the...
Passporting Update
Greater certainty and stability offered to financial markets by the Brexit transition agreement...
European Commission Crowdfunding Regulation
The European Commission published a draft new regulation on European crowdfunding service providers...
European Commission Brexit Notices to Stakeholders
The EC Brexit notice covers a wide range of sectors including investment managers and MiFID...
PSD2 Firms – Operational and Security Risk
The FCA is consulting on proposals under the Payment Services Regulations 2017, relating to...
FCA Regulatory Return Letter
The FCA issued Dear CEO letters in February 2018 to investment firms concerning the quality of the...
FCA and ICO Joint GDPR Update
The EU General Data Protection Regulation will apply in the UK from 25 May 2018. It is an essential...
FCA Algorithmic Trading Review
The FCA has recently published a report on the supervision of algorithmic trading in wholesale...
PRIIPs KID Performance Scenarios
The FCA has recently issued a statement related to concerns raised by the industry about the...
The EU Benchmarks Regulations
Financial institutions could be fined if they do not comply with the EU Benchmarks Regulations,...
PRIIPs Policy Statement (Updated)
FCA Policy Statement 17/6, sets out how disclosure requirements have changed to reflect the...
FCA Impose Financial Penalty on Interactive Brokers UK
The FCA imposed a financial penalty on Interactive Brokers UK in the amount of £1,049,412 for...
FCA Response to ESMA’s Public Statement on LEIs
The European Securities & Markets Authority issued a public statement to support the introduction...
AIS and PIS Applications
The majority of the updated PSD 2 regime will apply from 13/01/2018 and certain payments businesses...
FCA Considerations for AR Principals
The FCA issued an alert following an increase in cases of introducers having an inappropriate...