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Info Commissioner gives record fine to pensions firm over marketing calls
By Neasa MacErlean
Online Published Date:
03 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
Listing changes begin as FCA seeks to attract more business to London
By Neasa MacErlean
Online Published Date:
03 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
Default investment option proposed for retirement savers outside workplace schemes
By Neasa MacErlean
Online Published Date:
03 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
High Net Worth investors could be excluded from FSCS payouts
By Neasa MacErlean
Online Published Date:
07 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
Firms to be monitored on progress preparing for April 2023 Consumer Duty
By Neasa MacErlean
Online Published Date:
07 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
The shape of things to come – Govt response to the Payments Landscape Review
In just ten years, we have transitioned from transacting mainly in cash to using cards for most payments, with an increasingly significant proportion of this business taking place with contactless cards as well as mobile and electronic wallets. Charlotte Hill and Ahmed Razzaq examine the latest output from the Government on the future of the UK payments regulatory landscape.
Online Published Date:
09 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
British Steel pension transfers – another mis-selling crucible
Some £2.8 billion in transfers out of the British Steel Pension Scheme has passed through the hands of advisers, leaving most of these clients worse off. Though the “greed” of advisers may be the most egregious factor here, the Government and the regulator have also played roles in this sorry saga. Neasa MacErlean sifts through the debris.
Online Published Date:
13 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
Value for money – the new regulatory focus
Financial services firms are having to do a great deal of work on assessing the value of their products, units in their funds, along with pension arrangements. Such assessments are inherently difficult and imprecise, but Adam Samuel hopes the FCA will hold its nerve and extend this approach across the entire regulatory landscape.
Online Published Date:
13 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
LIBOR’s last throes
The scandal-ridden interest rate benchmark ceases from much of its legal usage at the end of December 2021, but some interim arrangements as well as various litigation risks pertaining to the transition will linger a few more years. Johnny Shearman explains.
Online Published Date:
13 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
Market abuse controls that will withstand an FCA visit
When it comes to market abuse risk assessments, along with effective policies and procedures, the key concept to avoid is ‘generic’. Damon Batten provides a steer on a range of areas to consider before the regulator comes knocking.
Online Published Date:
13 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
I’ll be watching you: themes from the FCA supervisory letters
In recent years, the Financial ConductAuthority has taken to publishing the letters it sends to CEOs of firms withinspecific supervision ‘buckets’, setting out where it sees the key risks of harmin their sector, where it expects firms to focus their efforts – and, in turn,what the FCA supervisors will be honing in on in their visits. The lettersshould not only serve as a useful overview of the regulator’s views, but alsoput firms on notice that any perceived breaches in circumstances where the FCAfeels its warnings have been ignored will be taken seriously. Emma Radmorelooks at themes from a selection of letters from the past year, addressed todifferent sectors of the market.
Online Published Date:
13 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
Plethora of red flags went unheeded by Credit Suisse in tuna-bond scandal
The investment bank insufficiently prioritised its response to the very real threat of financial crime and focussed on individual factors rather than considering the risks in aggregate or holistically. Add to this inadequate staffing, poor systems, along with lack of challenge, and the bank is forfeiting many millions in fines again. Denis O’Connor scrutinises the final notice.
Online Published Date:
13 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
US steps up crypto crime enforcement efforts
The United States is leading moves toregulate cryptocurrency and reduce the risk of criminal behaviour. Therecan be no room for complacency among those working with crypto, warns SyedRahman.
Online Published Date:
13 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
Judge adds 15% uplift and £4m FCA costs to NatWest AML fine
By Neasa MacErlean
Online Published Date:
14 December 2021
Appeared in issue:
Vol 34 No 5 - 01 February 2022
Judge adds 15% uplift and £4m FCA costs to NatWest AML fine
By Neasa MacErlean
Online Published Date:
14 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
Appointed Representatives regime set for major reform to curb “wide range of harm”
ByNeasa MacErlean
Online Published Date:
15 December 2021
Appeared in issue:
Vol 34 No 4 - 01 December 2021
GAM and star manager accept liability as FCA fines them over Greensill links
By Neasa MacErlean
Online Published Date:
17 December 2021
Appeared in issue:
Vol 34 No 5 - 01 February 2022