i-law

Compliance Monitor

The future of fund tokenisation

Asset management representatives have been exploring the commercial use of fund tokenisation - ie, issuing units recorded on a distributed ledger instead of more traditional systems of record-keeping. Charlotte Hill and Shaanil Senarath-Dassanayake discuss fund tokenisation, the UK Technology Working Group's Blueprint and Phase Two Report, as well as next steps for the asset management industry.
Online Published Date:  01 June 2024
Appeared in issue:  Vol 36 No 9 - 08 May 2024

The case for enforcement 'transparency'

A year after they were appointed, the FCA's new co-heads of Enforcement are involved in a battle of strength with the 45,000 regulated firms. Encouraged by their lawyers, the firms are now challenging the unit's plan to publicise the names of organisations that it investigates. What are the underlying issues? How is the system likely to work in practice? And which side will hold sway? Neasa MacErlean reports.
Online Published Date:  01 June 2024
Appeared in issue:  Vol 36 No 9 - 08 May 2024

Retail financial products - the 'other' portfolio letters

Further to our coverage of the portfolio letters on investment topics, we take a deep-dive into the regulator's thoughts on insurance, mortgages, consumer credit and finance, deposits, payment services and crowdfunding. The challenge for the industry and regulator is to ensure that people on the ground stop and actually read these documents, opines Adam Samuel.
Online Published Date:  01 June 2024
Appeared in issue:  Vol 36 No 9 - 08 May 2024

What do impending Listing Regime reforms mean for listed companies?

Touted as the most wide-ranging reforms to the UK capital markets in over three decades, the regulator aims to simplify the listing process and "encourage a more diverse range of companies to list and grow". James Wootton and Tom Thorne unpack the changes.
Online Published Date:  01 June 2024
Appeared in issue:  Vol 36 No 9 - 08 May 2024

OFAC action against EFG sends warning to UK firms

The Swiss private banking group was tripped up when omnibus accounts it held in the United States caused securities firms there unwittingly to process transactions for sanctioned Cuban and Russian customers. United Kingdom entities that retain omnibus accounts with American institutions run the same risks of breaching US sanctions legislation, cautions Denis O'Connor.
Online Published Date:  01 June 2024
Appeared in issue:  Vol 36 No 9 - 08 May 2024

Smart ways behavioural science can support compliance culture

While policy and procedure documents may abound, a nuanced people strategy that helps ensure desired behaviours are happening in practice is often lacking. Priya Giulianiand Katherine Odendaal share how insights from economics, psychology, sociology and neurology are able to assist an organisation's compliance goals.
Online Published Date:  01 June 2024
Appeared in issue:  Vol 36 No 9 - 08 May 2024

Panel launched to review cost and benefits of FCA and PSR policy proposals

Some proposed policy changes from the FCA and Payment Systems Regulator will from 1 August come under the ambit of a newly-established and independent Cost Benefits Assessment Panelunder the chairmanship ofDr Felix Martin, co-founder of 1167 Capital.
Online Published Date:  17 June 2024
Appeared in issue:  Vol 36 No 10 - 17 June 2024

FCA exec helicoptered into embattled PSR, as banks resist APP fraud refund plan

The FCA's relatively low-profile director of Retail has been plunged into a high-profile dispute involving the Payment Systems Regulator (PSR), which has just appointed him as interim managing director.David Geale took over on 10 June, three days after his predecessor, Chris Helmsley, stood down amid growing industry criticism.
Online Published Date:  19 June 2024
Appeared in issue:  Vol 36 No 10 - 17 June 2024

Cracks appear in Basel III unity as EU delays Endgame reforms on capital holdings

EU implementation of the Basel III 'Endgame' provisions is to be delayed a year, meaning that banks operating there will not be required to introduce them before rivals in the United Kingdom, United States and elsewhere.
Online Published Date:  19 June 2024
Appeared in issue:  Vol 36 No 10 - 17 June 2024

Gaming-style approach on apps encourages consumers to boost transaction levels

Gamification techniques appear to be encouraging consumers who use trading apps to carry out more trades, with some social groups particularly affected.
Online Published Date:  21 June 2024
Appeared in issue:  Vol 36 No 10 - 17 June 2024

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