FIN.

Author - Michelle Chance

FCA updates on diversity

In a speech by Christopher Woolard, FCA has called on firms to increase their efforts to integrate diversity and inclusion principles in their business frameworks.  While things are moving in the right direction, Mr...

FCA reviews whistleblowing arrangements

FCA has published its review of how firms implement FCA whistleblowing rules. Its review covered a range of wholesale and retail banks. It found several areas of both good and poor practice to comment on, and now urges...

PRA consults on SMR/SIMR changes

PRA has published a consultation paper proposing changes to both the SMR and SIMR, but focuses predominantly on the SIMR, introducing what PRA describes as “optimisations”. The proposed changes will apply to...

FCA updates on duty of responsibility

FCA has published guidance in DEPP on how it will enforce the duty of responsibility.  The guidance is already in force, applying from 3 May. It applies to UK banks, building societies, credit unions, PRA-designated...

FCA makes conduct rules for NEDs

FCA has made its new rules applying individual conduct rules to NEDs in the banking and insurance sectors. The new rules, which take effect on 3 July, apply the provisions of COCON to “standard” NEDs in the...

PRA makes branch whistleblowing rules

PRA has made policy statements and rules requiring UK branches of non-EEA banks and insurers to tell their staff about the PRA and FCA’s whistleblowing services. Any non-EEA bank that has both a branch and a...

BSB publishes certification guidance

The Banking Standards Board (BSB) has published good practice guidance for banks and building societies putting in place procedures to assess the fitness and propriety of staff under the Certification Regime. This takes...

AFME responds on whistleblowing

AFME (The Association for Financial Markets in Europe) has published its response to the FCA and PRA consultation papers on whistleblowing in UK branches of overseas banks. The FCA and PRA propose that UK branches of...

FinTech bridge to China agreed

Announced as part of the 8th annual UK-China Economic and Financial Dialogue at Lancaster House in London this month, the FCA has signed a Co-operation Agreement with the People’s Bank of China in a bid to share...