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PRA quadruples Hambro's fine for Wyelands Bank breaches
George Hambro, a non-executive director of Wyelands Bank plc, has had a fine imposed by the PRA quadrupled in order to deter others from showing insufficient skill, care and diligence in management and reporting of their firm's capital.
Online Published Date:
02 April 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
Consultations eye reprieve for small and medium-sized alternative asset managers
By Neasa MacErlean
Online Published Date:
07 April 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
Treasury grants FCA CEO Nikhil Rathi second term for "continuity"
Nikhil Rathi has been reappointed as chief executive of the Financial Conduct Authority until September 2030.
Online Published Date:
10 April 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
The case for Europe's own SEC
Unified oversight of financial markets within the European Union, along with a consolidated tape of trading data, would strengthen consistency of regulatory standards, plus enhance market integrity, competitiveness and growth. There would be significant ramifications both in and outside the bloc, comments Monique Melis.
Online Published Date:
10 April 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
Gaps found in FCA review of bereavement and power of attorney customer care
All firms need to improve their practices regarding the treatment of the heirs after a bereavement or granting of power of attorney, according to the FCA - which has reviewed the operations of businesses across the bank, building society, payments and electronic money sector.
Online Published Date:
12 April 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
FCA consults on cost disclosures for Consumer Composite Investment rules
The regulator has begun its second, and concluding, consultation process for the new Consumer Composite Investment (CCI) regime, which looks likely to be initiated for all firms in 2026.
Online Published Date:
16 April 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
Practical steps for investment firms preparing for a CASS audit
The deadline for submitting CASS reports is four months after year-end and the audit process is often fast-paced, with little room to stop and reflect. Oliver Hawes sets out suggestions for firms both ahead of and following their audits to smooth the process.
Online Published Date:
17 April 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
Capital rules to be 70% streamlined for investment firms from 2026
All references to the UK Capital Requirements Regulation are to be dropped by the FCA in its definitions of high quality ('own funds') regulatory capital for investment firms.
Online Published Date:
24 April 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
FCA prepares for world-first live AI testing facility
The Financial Conduct Authority is due to launch a live artificial intelligence testing facility in September to assist firms with advanced consumer-facing uses of the technology.
Online Published Date:
29 April 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
FOS under threat from civil-servant-speak
The Government's talk of reforming the Financial Ombudsman Service is couched in baffling misconceptions that the latter acts as a "quasi-regulator" and a "drag on investment". Adam Samuel cuts through political jargon, along with legal and judicial illiteracy, to discuss a body that, for all its shortcomings, is genuinely "world leading".
Online Published Date:
01 May 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
'Red tape' review will rebalance regulatory risks
The Government has tasked the Financial Conduct Authority with reviewing and streamlining its rules in order to "free up resources for businesses to innovate and to grow". Emma Radmore examines what changes are already happening or are under consultation, along with other initiatives we might expect from the regulator in the next year or so.
Online Published Date:
01 May 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
Odey's overreach tested accountability at own firm
When the executive committee of Odey Asset Management sought to conduct a disciplinary process against the founder and owner, he wasn't having a bar of it. Denis O'Connor explores the events that led to a clash between a colourful industry figure and the regulator's interpretation of its conduct rules.
Online Published Date:
01 May 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025
How to tackle the 'other side' of misconduct
Financial and non-financial misconduct tend to walk hand-in-hand. Rob Mason explores the regulator's recent focus on behavioural wrongdoing in the industry, its impacts on culture, along with steps firms can take to address conduct risks.
Online Published Date:
01 May 2025
Appeared in issue:
Vol 37 No 8 - 01 May 2025