Author Archives: Emma Radmore
Treasury responds on pension scams
Treasury has confirmed its plans to ban cold calling, emails and texts in respect of private pensions as part of its measures to address pension scams. It will also tighten rules to ensure that only active companies which produce up-to-date accounts can register pension schemes and introduce measures to help prevent money being transferred from […]
MoJ publishes Plevin guidance for CMCs
The Ministry of Justice has published guidance for claims management companies when they handle cases relating to Plevin. The guidance mainly explains what FCA’s expectations are and stresses that CMCs must not mislead clients about likely levels of redress. It also cautions against referring complaints to FOS without properly engaging with the relevant financial business […]
Financial Crime Compliance Certification Course
Bond Dickinson will be hosting and speaking at the 2017 Financial Crime Compliance Professionals Certification Course on 4 October. Attendance is limited to only 30 delegates.
Commission consults on bank account registry impact
The European Commission has published for comment an inception impact assessment on broadening the access of centralised bank account registries under the MLD5 proposals. It asks for comments by 6 September.
Sanctions guidance updated
Treasury and OFSI have updated their guidance on financial sanctions to bring the general guidance and guidance on the relatively new monetary penalties for breach together.
Tribunal upholds IFA ban
The Upper Tribunal has upheld FCA’s decision to ban a former CEO of an adviser network. FCA has banned Charles Palmer and fined him over £86,000 for failing to act with due skill, care and diligence. The network had nearly 400 Appointed Representatives and over 500 registered individuals who, between them, provided advice to around […]
Treasury updates sanctions guidance
HM Treasury and OFSI have updated their guidance on what to do in the case of a suspected breach of financial sanctions. It has published its suspected breach form, and says firms should report suspected breaches as soon as they become aware of them, including the names of all relevant parties, amounts, account names and […]
Up next from FCA
FCA’s latest policy development update promises several papers before the end of September: consultation on market infrastructure provider fee rates consultation on insurers’ tariff data finalised guidance on FAMR implementation part 1 and policy statement on the first IDD consultation and publication of the third consultation The long-planned consultation on new rules for firms running […]
FCA consults on CASS change for unbreakable deposits
FCA is consulting on a change to CASS to help firms that are having difficulty placing deposits with banks because of a combination of a current CASS rule that prevents firms placing client money in bank accounts with unbreakable terms of longer than 30 days, while the banks say the cost of liquidity requirements associated […]
Government publishes post-Brexit sanctions plans
Treasury, the FCO and the Department for International Trade have announced the publication of the Sanctions Bill, which will ensure the UK has the necessary powers to implement sanctions post-Brexit and also give it greater flexibility on introducing new measures. The Sanctions Bill will legislation to repatriate powers on non-UN snactions from the EU to […]
