- Home/Publications/Compliance Monitor
Firms prepare for tighter Money Laundering Regulations
The latest draft Money Laundering Regulations 2017 have been released three months before they come into force. Ian Mason warns that they impose more detailed requirements on firms as well as further criminal offences – which the regulator has..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
Spread-betting company executives fined £116,900 for market abuse
Two former employees of Worldspreads Ltd have been penalised £105,000 and £11,900 for intentionally misleading the London Stock Exchange and investors about the spread-betting company’s performance.
Financial controller..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
Business banking disputes: a way forward
Allegations about mis-sold interest rate hedging products or wrongdoing at RBS’s Global Restructuring Group have highlighted that the United Kingdom lacks adequate dispute resolution facilities for small firms to gain redress from the banks...
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
FCA resumes investigation into knowledge of HBOS Reading fraud
The Financial Conduct Authority has made notification “in the public interest” that it has re-opened its enforcement investigation into events surrounding misconduct at HBOS’ Reading-based impaired assets team. These proceedings..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
There are 13 enforcement investigations under the SMCR, reveals FCA
In the year since the Senior Managers and Certification Regime came into force, the Financial Conduct Authority has opened investigations into two individuals who are senior managers and 11 individuals who are, or are likely to be, certified..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
Firms are failing to harness cyber security basics, says FCA
“Many organisations believe that they are getting the basics [of cyber security] right, but the reality is often not the case,” Nausicaa Delfas – who is executive director at the Financial Conduct Authority – told the..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
The shifting financial advice boundary
HM Treasury’s response to its consultation on amending the definition of financial advice was published on 27 February 2017. The UK Government has confirmed its decision to change the definition to bring it in line with MiFID. But what are the..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
Complaints Commissioner asks FCA to review electronic recording of enforcement meetings
A complaint against the Financial Conduct Authority’s handling of an enforcement process has prompted the Complaints Commissioner to recommend that the regulator should review its practice on the electronic recording of significant..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
The FCA Business Plan: continuity and change
Unsurprisingly, the United Kingdom’s parting of ways from the European Union featured prominently in the Financial Conduct Authority’s annual Business Plan released in April. “I am regularly asked whether the FCA has enough..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
A trip to court
The Supreme Court’s judgment in Macris as well as a couple of interesting judicial review decisions are among the financial services developments recently handed down from the bench. Adam Samuel goes to court (or at least a roam around the law..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017
Implementation of the Insurance Distribution Directive
There are just nine months to go before the Insurance Distribution Directive must be transposed, and both HM Treasury and the regulator have issued consultations on how it will look in the United Kingdom. Juanita Morrison and Emma Radmore outline..
Online Published Date:
17 May 2017
Appeared in issue:
Vol 29 No 8 - 10 May 2017