Compliance Monitor

By Neasa MacErlean

Some payments and e-money providers do not have adequate safeguarding practices and present a risk to consumers, says the regulator. Final rules and guidance to address these problems are not as drastic as they could have been, but need focused attention for firms to comply by the deadline, report Emma Radmore and Laura Wiles.

The bank opened a client money account for a firm without checking the Financial Services Register and rated another customer 'low risk' despite its receipt of tens of millions from a company under criminal investigation. Denis O'Connor scrutinises lessons to be learned.

Dubbed by many as an 'evolution' rather than a 'revolution', reforms to the European Union payments legislative framework have reached trialogue negotiation stage, following the approval in June 2025 of the EU Council's position. Martin Dowdall and Clare Reynolds explore provisions that are likely to feature prominently in inter-institutional dialogue.

An 85-year-old who defrauded over 100 people in a £1 million investment scheme has been sentenced to two years in jail after the FCA brought a successful prosecution against him.

Rules for banks on serious misconduct involving bullying, harassment and violence have been extended to non-banks, and the regulator is consulting on whether more guidance is needed. Elizabeth Robertson and Paddy Ferguson outline the changes and steps firms should be taking now.