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FCA’s ‘Operation Tidworth’ sees six sentenced for investment fraud
The Financial Conduct Authority’s second-largestcriminal prosecution has resulted in six people being sentenced, altogether, to
28.5 years in prison for investment fraud.Between July 2010 and April 2014, the schemers cold-called members of the..
Online Published Date:
19 September 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
MPs call for urgent regulatory action in crypto-currency markets
By Neasa
MacErlean
Online Published Date:
25 September 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
Banks and insurers told to assess risks of transition away from LIBOR
By Neasa MacErlean
Online Published Date:
25 September 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
First meeting held for US-UK Financial Regulatory Working Group
By Neasa
MacErlean
Online Published Date:
25 September 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
FCA shuts ‘closed-book’ investigations without taking enforcement action
By Neasa MacErlean
Online Published Date:
25 September 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
Claims management companies soon to be subject to Conduct Rules
By Neasa
MacErlean
Online Published Date:
25 September 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
FCA fine challenged as broker makes first use of ‘partly contested cases’ rule
By Neasa MacErlean
Online Published Date:
28 September 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
Action increasingly likely over ‘loyalty penalty’ on consumers
By Neasa MacErlean
Online Published Date:
28 September 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
Tesco Bank fined £16.4m for “largely avoidable” cyber attack
By Neasa MacErlean
Online Published Date:
01 October 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
Upper Tribunal tackles directors’ duties
A recent tribunal case – in which the regulator’s proposed fine was slashed due to part of its case being out of time – provides useful analysis of advice obligations where the underlying investments are unregulated, as well as the role of the director who is not compliance officer or chief executive. Adam Samuel dissects the Alistair Burns and Plaxedes Chickombe judgments.
Online Published Date:
05 October 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
Banks caught by EU-US Iran sanctions clash
President Trump’s reinstatement of sanctions against Iran has caused the European Union to dust off its Blocking Statute, in order to salvage the 2015 nuclear deal. Now financial institutions in Europe face serious consequences if they conduct business connected to Iran and possibly if they do not; moreover, application of the EU provisions is as yet unclear. Ahmad Khonsari and Stefan Hoffmann report.
Online Published Date:
05 October 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
Avoiding pension transfer pitfalls
The Financial Conduct Authority’s new rules for Appropriate Pension Transfer Analysis came into effect this month. With concerns about unsuitable transfers out of defined benefit schemes running high, this is an area that advisers – not to mention their clients – cannot afford to get wrong. Rory Percival details the regulatory position.
Online Published Date:
05 October 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
New proposals to keep crowdfunding in check
Rapid development, and signs of poor practice in
some areas, have prompted the Financial Conduct Authority to tighten its
standards for loan-based and investment-based crowdfunding. Emma Radmore examines the regulator’s
proposals, as well as plans from the European Union and their likely effects.
Online Published Date:
05 October 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
Under SMCR, AML is a shared responsibility
The regulatory and reputational costs of having facilitated money laundering are substantial – as the highly-publicised woes of Danske Bank currently demonstrate. Gone are the days when responsibility for preventing such failings could be merely pushed down to the MLRO or compliance team. With the SMCR poised for application across UK financial services, Michael Harris stresses that senior managers must instil AML knowledge and vigilance throughout their institution.
Online Published Date:
05 October 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018
SMCR and insurers: call to action for HR
From 10 December, insurers move from the SIMR to the much more onerous SMCR – with the Certification Regime presenting their biggest challenge. Heidi Watson and Ruth Bonino discuss employment aspects of what insurers should do before commencement, as well as in the one-year transitional period that follows.
Online Published Date:
05 October 2018
Appeared in issue:
Vol 31 No 02 - 01 October 2018