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FCA unveils affordability assessment changes as part of mortgage market package
By Neasa MacErlean
Online Published Date:
01 April 2019
Appeared in issue:
Vol 31 No 07 - 01 April 2019
Goldman Sachs dealt £34m reporting fine — after struggling to find staff to run controls
By Neasa MacErlean
Online Published Date:
02 April 2019
Appeared in issue:
Vol 31 No 07 - 01 April 2019
Permanent ban imposed for binary options
By Neasa MacErlean
Online Published Date:
02 April 2019
Appeared in issue:
Vol 31 No 07 - 01 April 2019
Trader wins £1.2m for being sacked after raising concerns
Only 41 per cent of financial services staff who report concerns feel they are listened to and taken seriously, the Banking Standards Board has found in its latest review. [1] As a former RBC FX trader is awarded £1.2 million in compensation after raising compliance concerns and then being discharged, it appears the industry still struggles with dissonance between whistleblowing rhetoric and reality, writes Denis O’Connor.
Online Published Date:
09 April 2019
Appeared in issue:
Vol 31 No 07 - 01 April 2019
Analysis pinpoints common cultural risks
The contribution of cultural weaknesses to majorconduct failings is widely acknowledged, but not always easily prevented.Drawing on broader analysis conducted by Freshfields, Simon Orton and Rami Royleconsider the particular challenges of powerful personalities and niche areas oftechnical expertise.
Online Published Date:
09 April 2019
Appeared in issue:
Vol 31 No 07 - 01 April 2019
Humans + technology = SMCR compliance
At the core of the Senior Managers and Certification Regime is the desire to enhance human accountability and conduct. However, financial services firms are finding that RegTech (regulatory technology) and AI (artificial intelligence) can assist these objectives, boost compliance and support their business objectives. And the regulator’s expectations are adjusting accordingly, say industry experts.
Online Published Date:
09 April 2019
Appeared in issue:
Vol 31 No 07 - 01 April 2019
Get to grips with financial crime risk across your enterprise
The reputational and financial damage to institutions that are caught up in money laundering or other economic crime scandals is regularly chronicled in lurid detail by the media. As multi-national financial firms grapple with complex regulatory obligations along with variegated geographical characteristics, a starting point is to conduct an enterprise-wide financial crime risk assessment. Hannah Laming and Diana Czugler summarise the process.
Online Published Date:
09 April 2019
Appeared in issue:
Vol 31 No 07 - 01 April 2019
How can firms drive down their conduct risk?
Understanding the main drivers of conduct risk, along with key steps for minimising it, will better equip firms to identify, manage and monitor effectively at all levels of their organisation, explains Frank Brown.
Online Published Date:
09 April 2019
Appeared in issue:
Vol 31 No 07 - 01 April 2019
Don’t let valuations cost you a reputational fortune
As the Senior Managers and Certification Regime extends its reach across the financial service sector, the valuation function must be delegated carefully into qualified hands. By Ryan McNelley and Jane Stoakes.
Online Published Date:
09 April 2019
Appeared in issue:
Vol 31 No 07 - 01 April 2019
Standard Chartered pays US$1.1 billion for AML & sanctions failings; DPA extended two years
By Timon Molloy, managing editor
Online Published Date:
24 April 2019
Appeared in issue:
Vol 31 No 08 - 01 May 2019
Upper Tribunal upholds FCA fine in first decision on ‘partly contested’ disciplinary action
By Neasa MacErlean
Online Published Date:
26 April 2019
Appeared in issue:
Vol 31 No 08 - 01 May 2019
General insurers told to rectify product, sales and distribution malfunctions promptly
By Neasa MacErlean
Online Published Date:
26 April 2019
Appeared in issue:
Vol 31 No 08 - 01 May 2019
Duty of Care proposal shelved by FCA — for now
By Neasa MacErlean
Online Published Date:
26 April 2019
Appeared in issue:
Vol 31 No 08 - 01 May 2019