FIN.

Category - Conduct

FCA makes new rules

FCA’s latest handbook notice outlines all the rules adopted by FCA in its February and March Board meetings, including some not reported on in other FIN items. It includes a fill its of all the Brexit instruments...

FCA finalises CMC SMCR rules

FCA has published its policy statement and final rules explaining how it will apply the SMCR to CMCs.  In the main, it has confirmed the rules it proposed, with a few adjustments following consultation. The key elements...

FCA updates on preparing for Brexit

FCA has added a page to its website updating firms on what they could and should be doing to prepare for Brexit. The page is for use by UK and EEA firms and takes them through each various practicality they should...

FCA feeds back on SMCR extension

FCA has published a suite of papers feeding back on the SMCR extension, and has proposed the creation of a new directory of individuals working in financial services to enable their status and history to be checked. The...

Book now: SMCR seminar

We are delighted to speak at and host a half day seminar on 2 October with the Compliance Register on the extension to the SMCR.  For details and to book, please contact the Compliance Register.

BSB publishes fit and proper guidance

The Banking Standards Board has published some supporting guidance to its principles on fitness and propriety assessments.  It focuses on helping firms identify and deal with the risks and issues that may arise when...

Law Commission to address electronic signatures and smart contracts in 13th Programme of Law Reform

The Law Commission has announced the programme of reforms it will be working on over the next 3 years.  The projects include: Electronic signatures: there is an absence of explicit case law or legislation confirming...

Regulators update on SMCR

FCA is consulting on how firms and individuals will manage the transition to the extended SMCR. Its key proposal is to grandfather persons from the existing approved persons regime, so that firms can focus on embedding...

FCA feeds back on FAMR

FCA has published a policy statement on its consultation on FAMR and insistent clients.  Respondents were generally supportive of FCA’s proposed PERG guidance and also asked for more guidance in some areas. FCA...

PRA updates SMR forms

PRA has updated its forms firms must submit under the SMR. From 12 November, firms must use the following new forms:

Long and Short Form As
Form E
Statement of Responsibilities
Third Country Statement of Responsibilities