Emma RadmoreOn 14th May 2019, the FCA published a podcast interview with Andrew Bailey on the FCA’s Business Plan and future of regulation. Key topics can be summarised as follows:- Brexit – Brexit has affected the...
Category - Conduct
Caroline Stevenson
FCA publishes undertaking on unfair contract term
On 9th May, the FCA published an undertaking by James Brearley & Sons Limited in relation to a term in their Services Terms and Conditions which allowed them to terminate their contract with their customers without...
FCA starts intergenerational finance debate
FCA has published a discussion paper on intergenerational differences, looking at the changing needs of financial services consumers depending on their age. It feels the time is right to reassess pre-conceptions about...
Roseyna JahangirFCA calls for input on FAMR and RDR
FCA has called for feedback on its planned approach to reviewing the RDR and FAMR. The purpose of the review is to find out whether the two initiatives have succeeded in their objectives, focussing on what consumers...
FCA confirms miscellaneous new rules
FCA’s latest Handbook Notice confirms the following rule changes: to COBS 22 in relation to introducing a ban on selling, marketing and distributing binary options to retail customers, which already took effect...
Andrew Bailey looks at the future of financial conduct regulation
On 23rd April, Andrew Bailey, Chief Executive of the FCA, released a statement on the future of financial conduct regulation. He used a four lens approach when looking at conduct regulation. These can be summarised as:...
Natasha BrownleeFCA publishes enforcement and supervision ‘Approach’ documents
Following consultations in March 2018, the FCA has published its ‘Approach to Supervision‘ and ‘Approach to Enforcement‘ papers. The Supervision paper describes the FCA’s role in promoting...
FCA publishes PFOF findings
FCA has published an update to its Market Watch item on payment for order flow. It has now carried out a review of 15 firms, to check how they monitor compliance with FCA requirements around conflicts, inducements and...
FCA prioritises culture, customers and crime prevention
FCA’s Business Plan for 2019/2020 holds few surprises. It highlights 4 ongoing cross-sector priorities and three additional longer-term priorities. FCA will focus on: culture and governance, not least in SMCR...
FCA publish feedback statement on duty of care
On 23rd April, the FCA published Feedback Statement FS19/2 on its summary of responses and next steps in relation to a duty of care and potential alternative approaches. The statement will be followed up by a further...
Wholesale brokers ignore Dear CEO letter at their peril
FCA has written a Dear CEO letter to wholesale brokers setting out its thoughts on the key harms the sector poses. The letter explains that MiFID 2 and MAR have significantly raised expectations on market participants...
Complaint levels fall
FCA’s data for complaints against regulated firms for H2 2018 show that complaints decreased by 5%, with PPI complaints falling by 8% – although PPI still accounted for 40% of all complaints. In part this...
Policy and Supervisory Statements on climate change financial risks published
The PRA has published PS11/19 and SS3/19 on ‘Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change’. These statements are intended to steer firms towards...
PSR ADOPTS SMR PRINCIPLES
As a wholly owned subsidiary of the FCA, the Payment Systems Regulator (PSR) has announced that it is adopting and applying the same core principles of the Senior Managers Regime as the FCA. A formal description of the...
Angie BamboulisFCA 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...
Commercial BankingConductConsumer FinanceFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRetail Banking
FCA publishes final no-deal Brexit rules
Perhaps in anticipation of what would follow later in the day, FCA published its final instruments and guidance that would apply in the event of a no-deal, no-implementation period Brexit, on the morning of 29 March...
HM TREASURY PUBLISHES FINDINGS ON FSA SUPERVISION OF CO-OP BANK PLC
HM Treasury has published the findings of an independent review into the prudential supervision of the Co-Operative Bank between 2008 – 2013. The findings of the report were balanced, but did identify possible...
Will SMCR hold up pension transfers?
Pension scheme members wishing to transfer their benefits from a defined benefit (DB) to a defined contribution (DC) pension arrangement have to take financial advice and trustees of DB schemes are required to check...
Gavin EllisonFOS letter to Treasury Committee on reasonable adjustments under the Equality Act
On 26th March 2019, the House of Commons Treasury Committee published a letter from Caroline Wayman (FOS Chief Ombudsman and Chief Executive) to Nicky Morgan (Committee Chair) setting out the requirements to make...
Commercial BankingConductConsumer FinanceFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRetail Banking
FCA looks at life beyond Brexit
In a speech on Brexit delivered by Nausicaa Delfas, Executive Director of International, the FCA reminded firms that the deadline for notifications under the temporary permissions regime is 28 March 2019. Firms that...
Commercial BankingConductEnforcement & LitigationFinancial Crime PreventionFundsInsuranceInvestmentsPensionsRegulated MortgagesRetail Banking
Europe reaches political agreement on reforms to EU supervision
The European Parliament and Member States have reached agreement on core elements of the reform of European supervision of financial markets, including strengthening the supervisory framework in the area of anti-money...
EBA agrees form of MoU between European and UK supervisors
As part of the no-deal Brexit preparations, the Board of Supervisors of the EBA have confirmed that a template MoU has been agreed with the FCA and PRA. If there is a no-deal Brexit, this template will be used as the...
FCA imposes £27.6 million fine for transaction reporting failures
The FCA has fined UBS AG for transaction reporting failures during the period November 2007 to May 2017. The FCA reported that a total of 135.8 million errors in reporting were made during this period. It queried...
FCA finalises guidance on SoRs and responsibilities maps
FCA has published its finalised guidance to help firms prepare their statements of responsibility and responsibilities maps under the SMCR. The guidance addresses the rules as they apply to each category of SMCR firm...
FCA makes Directory rules
FCA has made its final rules on its “Directory“. The new public register will enable searches on all directors and senior managers, certification staff and other individuals who require qualifications to...
Commercial BankingConductConsumer CreditEnforcement & LitigationFinancial Crime PreventionFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRegulated MortgagesRetail Banking
BoE and FCA update on Brexit approach
BoE and FCA have updated their respective websites with coordinated information on their approach to a hard Brexit. BoE has published a series of materials setting out its updated plans to its supervisory approach to a...
Paper published on supervision of insurers’ corporate guidance
The International Association of Insurance Supervisors has published an Application Paper on Proactive Supervision of Corporate Governance. The paper sets out principles and practices to support supervisors in their...
FCA announces London and Edinburgh Brexit briefings
FCA has announced briefings in the second week of March in both London and Edinburgh to help regulated firms prepare for Brexit. Firms can register to attend or view the live webcast.
Sign up to our repeat SMCR workshop
We are delighted to be hosting a re-run of our sell-out half day workshop on the SMCR for solo-regulated firms. This Compliance Register seminar, at which Emma Radmore, Roseyna Jahangir and Michelle Chance will speak...
FCA posts video for SMCR help
FCA has arranged for a video to be made by firms that have already implemented the SMCR, sharing their experiences of adopting it. Contributors share the stories from Virgin Monday, HSBC, State Street and JP Morgan.
Commercial BankingConductInsurancePayment Services & Electronic MoneyRetail BankingSMCR & Governance
ESMA briefs on non-EU branches
ESMA has published a supervisory briefing aimed at helping supervisors dealing with non-EU branches of EU firms. It highlights how the supervisors should ensure that the non-EU branch can comply with the requirements of...
ConductConsumer FinanceEnforcement & LitigationFintech & InnovationFundsInsurancePayment Services & Electronic MoneyPensionsRetail Banking
ESMA creates Brexit page
ESMA has created a new web-page on Brexit, setting out how it is preparing for it. Its latest agreement is a MoU with BoE for recognition of CCPs and the Central Securities Depository. It aims to recognise all UK CCPs...
BSB consults on regulatory references good practice
The Banking Standards Board is consulting on draft good practice guidance on regulatory references. The guidance will be all the more important later this year when the SMCR extends the regulatory references...
SMCR optimisation consultation
As the FCA prepares for the extension of SMCR to most solo-regulated firms next December, it is consulting on a few areas regarding the existing regime for banks and large insurers previously identified as wanting...
Commercial BankingConductConsumer CreditEnforcement & LitigationFinancial Crime PreventionFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRegulated MortgagesRetail Banking
New Financial Services head at Womble Bond Dickinson
We are delighted that Jonny Williams has joined the financial services regulatory team at Womble Bond Dickinson UK.
More information on Jonny and his appointment can be found here.
Brexit and Immigration Law seminar series
One of the most fundamental ways in which Brexit is likely to affect many businesses, is the impact on immigration law. This is particularly the case for the financial services and insurance sectors, which have long...
FIN. TeamEIOPA publishes Opinion on supervision of cross-border non-life insurance
EIOPA has published an Opinion on the supervision of cross-border non-life insurance where the risk is of a long term nature. In the Opinion, EIOPA notes that this type of insurance is often more uncertain than the...
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...
Michelle ChanceBank of England and PRA consult on resolvability measures
The BoE and the PRA have published consultation papers on resolvability and resolution assessments for certain firms. PRA CP31/18 sets out proposed rules that would require relevant firms to report to the PRA on their...
Commercial BankingConductConsumer CreditFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRegulated MortgagesRetail Banking
New Corporate Governance Principles published
The Financial Reporting Council has published the final version of new Corporate Governance Principles for large private companies.
We have published an article that summarises and discusses these Principles.
Suzanne GadoFCA 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 updates SMCR forms
FCA has updated its website to show the forms that now apply to insurers, who have become subject to the SMCR from 10 December.
Commercial BankingConductFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRetail Banking
Treasury announces more details on its approach to onshoring financial services legislation
On 22 November 2018, Treasury announced it was developing a draft SI for MAR. It proposes that the SI will address: the scope of the regulation; transaction reporting; notification requirements; transfer of functions;...
FCA consults further on Brexit approach
FCA has published additional proposals on how it will deal with a hard Brexit. The consultation focuses on: more changes to the Temporary Permissions regime; reflecting the new Credit Rating Agency and Trade Repository...
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 confirms SMCR insurance extension rules
PRA has published a policy statement to its second consultation on extending the SMCR to insurers. Following FCA’s finalisation of its rules on the extension, PRA now confirms it had no responses to its...
PRA updates approach documents
PRA has updated its “approach” documents in relation to banking and insurance supervision. Key changes to the previous versions include: an update on the changes to supervisory approach following...
PRA publishes extension of SM&CR to insurers policy statement
On 18 October 2018, the PRA published responses to its consultation paper (CP) 18/18 ‘Strengthening accountability: implementing the extension of the SM&CR to insurers’. The policy statement (PS) 26/18...
Commercial BankingConductFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRegulated MortgagesRetail Banking
FCA consults on Statements of Responsibilities and Responsibilities Map guidance
The FCA has published a consultation on proposed guidance to help solo-regulated firms draft their Statements of Responsibilities (SoR) and (for enhanced firms) Responsibilities Maps, in preparation for the SMCR...
FCA makes new rules
FCA has made three new rules instruments at its September board meetings: the Individual Accountability (Dual-Regulated Firms) Instrument 2018: this instrument makes significant changes to SYSC as well as to COCON...
Second consultation on extending SM&CR to insurers
The PRA has published the second part of its consultation on the extension of SM&CR to insurers. These proposed amendment to its rules consist of ‘technical consequential changes’ and ‘minor...
Treasury makes SMCR extension Regulations
Treasury has made the Regulations extending the SMCR to insurers. The Regulations bring into force certain provisions of the Bank of England and Financial Services Act 2016 from 13 September to enable the making of the...
Extension of SM&CR to insurers: PRA consults on implementation
The PRA is consulting on proposed changes to its Rulebook, to provide for: a technical correction to the Solvency II firms: Insurance General Application Part; and consequential changes and minor administrative...
Commercial BankingConductConsumer CreditFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRegulated MortgagesRetail Banking
FCA updated guidance for firms outsourcing IT
The FCA has updated FG 16/5, ‘Guidance for firms outsourcing to the ‘cloud’ and other third party IT services’. This update takes account of the publication of the European Banking...
Commercial BankingConductConsumer CreditEnforcement & LitigationFinancial Crime PreventionFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRegulated MortgagesRetail Banking
FCA publishes intervention approach documents
On a new page on its website, ‘Measuring our impact before we intervene‘, the FCA has published a group of documents that aim to provide an indication of how the FCA assesses the likely impact of its...
FCA publishes Annual Report
FCA has published its Annual Report and Accounts for 2017/18. The report includes details of: FCA’s work preparing for Brexit; key regulatory changes such as MiFID 2 and PSD 2; work on SMCR extension; thematic...
ConductConsumer CreditFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyPensionsRegulated MortgagesRetail Banking
FCA and PSR Chair discusses potential future algocracy
Charles Randell, the recently appointed Chair of the FCA and the PSR, has delivered a speech, in which he discussed the increasing dominance of algorithms in our day to day lives, and noted some of the consequent issues...
Changes in terminology. PRA updates its Supervisory Statements
The PRA updated a number of its Supervisory Statements (SSs) on 4 July 2018 to reflect changes in terminology, following the publication of policy statement 15/18 “Strengthening individual accountability in...
PRA publishes policy statement on extension of the SM&CR to insurers
On 4 July 2018, the PRA published policy statement (PS)15/18 in response to Consultation Paper (CP) 14/17 ‘Strengthening individual accountability in insurance: extension of the Senior Managers and Certification...
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...
Treasury Committee calls for abolition of “alpha male” culture in finance
The Treasury Committee has published its report following its Women in Finance inquiry, which sought to identify the barriers to women entering and progressing in the financial services industry. It also examined 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.
ConductEnforcement & LitigationFinancial Crime PreventionPayment Services & Electronic MoneyRetail Banking
Treasury Committee engages with FCA over TSB IT migration
Nicky Morgan and Andrew Bailey have exchanged letters of the problems customers faced following TSB’s IT migration. The Treasury Committee had asked about the work FCA had done in advance of the planned migration...
FCA develops its focus on improving culture in financial services
The FCA has published an event summary describing output from a conference it held in March on Transforming Culture. Following the conference, and the publication of its Discussion Paper on Transforming Culture in...
Regulators fine Barclays CEO for breach of SMR requirements
PRA and FCA have published the first final notice for breach of an Individual Conduct Rule. They have jointly fined James (Jes) Staley £642,430 for breach of Individual Conduct Rule 2 (failure to act with due skill...
FCA publishes second 5 Conduct Questions report
The FCA has published its second annual report setting out responses from wholesale banking firms to the FCA’s conduct question set. The FCA notes that the second report indicates progress has been made from the...
Commercial BankingConductConsumer CreditEnforcement & LitigationFinancial Crime PreventionFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyRegulated MortgagesRetail Banking
FCA and PRA publish business plans
The FCA and the PRA have both published their business plans for 2018/2019. The FCA’s business plan shines a spotlight on consumer protection, including in relation to pension products and high-cost credit, as an...
FCA publishes package of asset management remedies
FCA has released several documents resulting from its asset management market study. The key documents are: final rules focussing on the duties of fund managers as agents of the fund investors. The changes will require...
ConductConsumer CreditEnforcement & LitigationFinancial Crime PreventionFundsInsuranceInvestmentsRegulated Mortgages
FCA sets out supervision and enforcement approach
FCA has published a draft of its approach to enforcement and supervision. The documents follow its publication of its Mission, in which it committed to publishing a series of documents setting out how it carries out its...
Andrew Bailey speaks on transforming culture in financial services
The FCA has published a speech by Andrew Bailey, FCA Chief Executive, on transforming culture in financial services. Mr Bailey highlights the following issues: work on firm culture is an important priority for the FCA;...
FCA speaks on affordability
Jonathan Davidson has spoken on getting affordability right in consumer credit. He said that as the UK consumer credit sector is growing, so are concerns about excessive debt. FCA does not consider the sector has yet...
BSB publishes annual review
The Banking Standards Board has published its annual review. Its key point is that, last year, it carried out the largest ever survey of behaviours, competence and culture in UK banking. It noted that the scores to its...
FCA outlines approach to authorisation
Sarah Rapson has spoken of FCA’s approach to authorising firms. She focused on FCA’s use of authorisation as a way to prevent harm, and its focus on using it proportionately. As a result, the information it...
FCA looks back on past 5 years
John Griffith-Jones has reflected on FCA’s first 5 years of operation, since it took over from the FSA. He outlined: highlights – specifying FCA’s engagement with pension exit charges, general...
Commercial BankingConductConsumer CreditEnforcement & LitigationFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyRegulated MortgagesRetail Banking
FCA Discussion Paper on transforming culture in financial services
As part of its ongoing work on culture and governance, the FCA has published a discussion paper, comprising a series of essays from academics and industry thought leaders covering: what a ‘good’ culture...
FSB publishes final version of supplementary guidance on sound compensation practices
The Financial Stability Board (FSB) has published the final version of its Supplementary Guidance to the FSB Principles and Standards on Sound Compensation Practices. It consulted upon this guidance in June 2017, as...
FCA updates on product governance
FCA has provided an update on its work on product governance in small and medium sized retail banks. Its recent review looked at 2 year fixed rate savings products and how firms’ product governance frameworks...
FCA Statement on proposals to introduce a public register
The FCA has published a statement announcing that it will consult on proposals to make information available on a wider range of individuals at authorised firms. Under the FCA’s proposals to extend the Senior...
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...
ConductConsumer CreditEnforcement & LitigationInsuranceInvestmentsPayment Services & Electronic MoneyRegulated Mortgages
FCA updates on service standards
FCA’s new-look update on its service standards shows that it met most of its targets for various regulatory tasks, including authorisations, passport notifications, dealing with queries and customer satisfaction...
Commercial BankingConductConsumer CreditFintech & InnovationInvestmentsRegulated MortgagesRetail Banking
FCA explains perimeter to Treasury Committee
Andrew Bailey has written to the Treasury Select Committee setting out a summary of the powers “FCA does not have”. It has been asked many questions in the context of the RBS GRG investigation. The letter...
PRA publishes policy statement on strengthening individual accountability in insurance
PRA has published a policy statement on strengthening individual accountability in insurance: optimisations to the SIMR. The policy statement follows on from an ealier consultation (CP8/17) and includes: feedback on the...
FCA sends “Dear CEO” letter on APP fraud
FCA has published a “Dear CEO” letter emphasising the work required to combat authorised push payment (APP) fraud. This follows the Which? super-complaint in September 2017, and the Payment Systems...
Memorandum of Understanding between the FRC and FCA
The Financial Reporting Council (FRC) and Financial Conduct Authority (FCA) have published a Memorandum of Understanding (MOU) setting out: the respective statutory regulatory responsibilities of the FRC and FCA; the...
Commercial BankingConductConsumer CreditFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyRegulated MortgagesRetail Banking
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...
ConductConsumer CreditFintech & InnovationInsuranceInvestmentsRegulated MortgagesRetail BankingUncategorized
FCA sets out future approach to authorisation and competition
FCA has outlined its approach to authorisation and to competition. It notes it is one of the few financial regulators in the world with an objective that includes promoting competition. It wants to understand, in...
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...
Commercial BankingConductEnforcement & LitigationInvestmentsPayment Services & Electronic MoneyRetail Banking
FCA makes new rules
At FCA’s Board meeting on & December, it made several new rule instruments, covering (among other things), several changes to take effect from 3 January 2018: minor changes relating to MiFID 2 implementation...
FCA consults on market conduct codes
FCA has published a consultation paper setting out its approach to supervising and enforcing the SMCR, and a wider discussion on extending Principle 5 (standards of market conduct) to the unregulated activities of...
PRA publishes framework for authorisation and supervision of insurance special purpose vehicles
Following a period of consultation, PRA has published a policy statement and supervisory statement that are relevant to all parties who wish to apply to PRA for, or have obtained authorisation as, an insurance special...
ConductFinancial Crime PreventionFintech & InnovationFundsInsuranceInvestmentsPayment Services & Electronic MoneyRegulated MortgagesRetail Banking
Bond Dickinson financial services team ranked in Legal 500
The Bond Dickinson financial services team is delighted to have achieved a Legal 500 ranking. The new directory described the team as providing ‘responsive, practical, commercial and cost-effective’ advice to a wide...
PRA comments on “Geofinance”
Sam Woods, speaking at Mansion House, commented on what he predicts to be an increasingly prevailing dynamic in financial institutions and financial regulation. Geofinance is the impact of geography on how banks...
What does SMCR extension mean for you?
We have written an article summarising the key elements of the proposed SMCR extension.
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
FCA speaks on asset management regulation
Meghan Butler has spoken on how FCA is clarifying its supervisory approach to asset managers. She looked at FCA’s mission and its recognition of the importance of the asset management industry. She spoke of the...
Failure to prevent facilitation of tax evasion
The new corporate offence under the Criminal Finances Act trips off the tongue! It takes effect from 30 September, and “relevant bodies” must have considered their exposure to it and put in place reasonable...
FCA speaks on SMR extension
Jonathan Davidson has spoken on culture and conduct in the context of FCA’s proposals to extend the SMR. Key points of his speech included: that business models often create commercial incentives for behaviours...
BOE releases consultation on extension of SM&CR to insurers
Today the PRA has published proposals to extend the Senior Managers and Certification Regime (SM&CR) to insurers. These proposals seek to implement a consistent but proportionate regulatory framework to...
Commercial BankingConductConsumer CreditEnforcement & LitigationFundsInsuranceInvestmentsPayment Services & Electronic MoneyRegulated MortgagesRetail Banking
FCA releases details of consultations on the extension of SM&CR to all firms
The long-awaited consultations on the extension of the SM&CR have been released: CP17/25 – Individual accountability – extending the Senior Managers and Certification Regime to all FCA firms. Banks are...
Commercial BankingConductConsumer CreditEnforcement & LitigationFinancial Crime PreventionInvestmentsPayment Services & Electronic MoneyRetail Banking
FCA makes new rules
At FCA’s July Board meeting it made several new rulebook instruments. Key changes are: to make minor changes to approved persons application forms with effect from 12 September; to set the fees payable to the PSR...
Banking Standards Board consults on certification risks and issues
The Banking Standards Board is consulting on guidance that will help firms identify and deal with risks and issues that arise when they are assessing fitness and propriety under the SMCR. The draft guidance covers:...