i-law.com - Newsletter (Compliance Monitor)

As the UK takes next steps towards its bespokefinancial services regulatory framework outside the European Union, a bill ispoised to revoke a swathe of laws and introduce a number of new measures. Emma Radmore explains how the proposedlegislation is more than just post-Brexit admin.

Online Published Date: 09 August 2022

Appeared in issue: Vol 35 No 1 - 01 September 2022

Compliance failures cited by FCA in £12.5m fine on Citigroup Global Markets

By Neasa MacErlean

Online Published Date: 22 August 2022

Appeared in issue: Vol 35 No 1 - 01 September 2022

Regulator warns BNPL sector of criminal penalties as cost-of-living crisis deepens

By Neasa MacErlean

Online Published Date: 22 August 2022

Appeared in issue: Vol 35 No 1 - 01 September 2022

FCA under fire as no action taken against HBOS managers

The FCA and PRA are receiving a barrage of criticism for their decisions to take no action against the individuals running HBOS when it collapsed in 2008.

Online Published Date: 02 September 2022

Appeared in issue: Vol 35 No 1 - 01 September 2022

From ‘light touch’ to Consumer Duty

After years of debate and in response to a succession of scandals, the United Kingdom has adopted a much more prescriptive approach to protecting financial services consumers. Scrutiny will fall not only on firms but also on the regulator to make a success of these reforms, writes Esther Martin.

Online Published Date: 06 September 2022

Appeared in issue: Vol 35 No 1 - 01 September 2022

MiCA: EU expands crypto regulation

The European Union has proposed an ambitious piece of legislation to address regulatory gaps in relation to cryptoassets and new technologies. Charlotte Hill and Katie Fry-Paul examine the proposal as currently understood.

Online Published Date: 06 September 2022

Appeared in issue: Vol 35 No 1 - 01 September 2022

IFA links with unauthorised introducers: here be dragons

In a recent tribunal case, over 2,000 consumers lost more than ?50 million after financial advice firms steered their pension savings to high-risk products in which an unauthorised firm had a significant interest. The regulator should use its powers to close a business or impose a new CEO, compliance officer or section 166 Skilled Person more often, says Adam Samuel.

Online Published Date: 06 September 2022

Appeared in issue: Vol 35 No 1 - 01 September 2022

Insurance broker receives second fine for lax anti-bribery controls

A previous fine, work with a Skilled Person, along with group-wide third-party due diligence and approval processes, were insufficient to prevent corrupt payments related to Jardine Lloyd Thompson's South American business - including an instance of over US$3 million in bribes. Denis O'Connor analyses the lessons for careful consideration.

Online Published Date: 06 September 2022

Appeared in issue: Vol 35 No 1 - 01 September 2022

Corporate criminal liability up against the wall

It is notoriously difficult to attribute criminal liability to large corporates in the United Kingdom. Proposals from the Law Commission for reform are on the table - including the extension of 'failure to prevent' offences to cover certain fraud charges. Thomas Cattee and Susana Ferr?n Pérez examine how the criminal law has developed, challenges to establishing criminal corporate liability, along with the recent proposals.

Online Published Date: 06 September 2022

Appeared in issue: Vol 35 No 1 - 01 September 2022