i-law

Compliance Monitor

FCA prepares rules for payment services information sharing
The regulator is to consult this summer with the payment services sector on new rules and guidance based on European Union standards due next year. The Financial Conduct Authority says that it “would expect to comply with the..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Firms urged to enhance client controls on cryptoassets
Financial services firms are being warned that they may need to enhance their scrutiny of clients “who derive significant business activities or revenues from crypto-related activities”. A ‘Dear CEO’ letter was sent by..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Retail banking review paves the way for reform
By Neasa MacErlean
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Rules for claims management companies out for consultation
Prominent explanations of ‘no-win, no-fee’ services are expected to be a basic requirement when the FCA starts regulating claims management companies (CMCs) in England, Wales and Scotland next year. The Financial Conduct Authority..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Advisers welcome proposals for retirement income market
By Neasa MacErlean
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Canara Bank fined and restricted: AML failings were led by seconded managers
The Financial Conduct Authority has fined Canara Bank, which is headquartered in Bangalore, £896,100 and also barred it from accepting new depositors for 147 days. This is because of “consistent failure to implement adequate AML systems..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Authorised Push Payment complaints remit set to be extended
By Neasa MacErlean
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Looser listing rules for sovereigns disappoints industry bodies
The FCA is going ahead with its controversial premium listing proposals for sovereign investors — seen as a way of attracting Saudi Arabia’s Aramco to list in the United Kingdom. Further to its proposals of July 2017, the Financial..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Pitching machine intelligence against financial crime
The precise application of machine intelligence solutions can enhance existing technologies and processes to detect potential financial crime, without the need to engage in large-scale software upgrades. Alma Angotti, Timothy Mueller and Joe..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Fund marketing and distribution: ducking the issue?
It’s been a few years since implementation of the AIFMD and the times when barely any regulatory update would not mention distribution of investment funds. Has the industry got to grips with the requirements? How have those who establish and..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Revised guidance for the financial crime frontline
“There is a realistic possibility that the scale of money laundering impacting on the UK annually is in the GBP hundreds of billions,” admits the National Crime Agency, and financial services firms are on the frontline of thwarting its..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Who will manage the managers under the SMCR?
Performance management of an employee under the SMCR is subject to the same considerations as for the contractual arrangements and dismissal procedures pertaining to any senior staff member. However, the regulatory framework provides for some..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
‘The what’ and ‘the why’ – trade surveillance in the new regulatory landscape
The industry requires a cultural shift in the perception of what surveillance is; manual surveillance of communications based on random sampling is fundamentally unacceptable to meet current regulatory and evidential requirements. Effective..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
A positive judgment for SIPP providers, but a wave of mis-selling claims gathers
SIPP providers are facing scrutiny from HMRC along with a groundswell of mis-selling claims or complaints. Paul Gair and Patrick Shee survey the trends and examine a recent tribunal case involving the tax authority. Self-Invested Personal..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Firms must keep implementing EU laws until end of 2020
Regulated firms have been told by the Financial Conduct Authority that they “must continue” to implement plans for all European Union legislation that is due to come into effect before the end of December 2020. This is the date on..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Robo-advice on the advance
Two main types of ‘robo-products’ have emerged in the burgeoning market for automated financial tools. Andrew Henderson and James Burnie identify the relevant regulatory requirements, explain the difference between ‘guidance’..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Scottish Widows dropped from fair treatment of long-term customers probe
More than two years into its ongoing investigation of whether longstanding life insurance customers are being treated fairly, the Financial Conduct Authority has eliminated Scottish Widows from the inquiry. However, Prudential, Countrywide Assured,..
Online Published Date:  16 July 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Firms urged to enhance client controls on cryptoassets
By Neasa MacErlean
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
FCA prepares rules for payment services information sharing
By Neasa MacErlean
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Rules for claims management companies out for consultation
By Neasa MacErlean
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Scottish Widows dropped from fair treatment of long-term customers probe
More than two years into its ongoing investigation of whether longstanding life insurance customers are being treated fairly, the Financial Conduct Authority has eliminated Scottish Widows from the inquiry. However, Prudential, Countrywide Assured,..
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Looser listing rules for sovereigns disappoints industry bodies
By Neasa MacErlean
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Pitting machine intelligence against financial crime
The precise application of machine intelligence solutions can enhance existing technologies and processes to detect potential financial crime, without the need to engage in large-scale software upgrades. Alma Angotti, Timothy Mueller and Joe Campbell explain how 'MI' can help with segmentation, prioritisation and typology development.
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Revised guidance for the financial crime frontline
“There is a realistic possibility that the scale of money laundering impacting on the UK annually is in the GBP hundreds of billions,” admits the National Crime Agency, and financial services firms are on the frontline of thwarting its entry. Adam Samuel analyses GC18/1 – the Financial Conduct Authority’s latest attempt to update its financial crime guidance, as well as introduce material on insider dealing and market manipulation.
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Firms must keep implementing EU laws until end of 2020
By Neasa MacErlean
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
Who will manage the managers under the SMCR?
Performance management of an employee under the SMCR is subject to the same considerations as for the contractual arrangements and dismissal procedures pertaining to any senior staff member. However, the regulatory framework provides for some additional and specific considerations, explains Alexandra Carn.
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018
A positive judgment for SIPP providers, but a wave of mis-selling claims gathers
SIPP providers are facing scrutiny from HMRC along with a groundswell of mis-selling claims or complaints. Paul Gair and Patrick Shee survey the trends and examine a recent tribunal case involving the tax authority.
Online Published Date:  19 September 2018
Appeared in issue:  Vol 30 No 10 - 14 July 2018

Copyright © 2025 Maritime Insights & Intelligence Limited. Maritime Insights & Intelligence Limited is registered in England and Wales with company number 13831625 and address 5th Floor, 10 St Bride Street, London, EC4A 4AD, United Kingdom. Lloyd's List Intelligence is a trading name of Maritime Insights & Intelligence Limited.

Lloyd's is the registered trademark of the Society Incorporated by the Lloyd's Act 1871 by the name of Lloyd's.