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New approaches to tackle APP and other frauds
From regulatory consultations, a range of responses to authorised push payment fraud, and courts developing helpful approaches to assist cybercrime victims take legal measures against “person(s) unknown” – authorities in the United Kingdom are seeking new ways to confront specific fraud challenges. By Rhodri Thomas.
Online Published Date:
03 December 2018
Appeared in issue:
Vol 31 No 04 - 01 December 2018
Keys from the Keydata fiasco
Between 2005 and 2009 Keydata sold £475 million worth of ‘death bond’ products to over 37,000 retail investors, utilising a series of fictitious claims. This is “the first big product governance case”, where failure in this core area led to “all sorts of regulatory mayhem”. Adam Samuel sorts out the lessons learnt.
Online Published Date:
03 December 2018
Appeared in issue:
Vol 31 No 04 - 01 December 2018
What the banks learnt from implementing SMCR
The first wave of institutions to embed the
Senior Managers and Certification Regime found that they needed buy-in across
the organisation, a detailed understanding of business areas and careful
planning. Emma Sutcliffe and Penny Miller set out the lessons for
the larger tranche of firms now required to align their accountability
procedures.
Online Published Date:
03 December 2018
Appeared in issue:
Vol 31 No 04 - 01 December 2018
The other regulator – ICO and financial services
As if the conduct and prudential regulators
weren’t enough to worry about, the General Data Protection Regulation along
with the recurring menace of cyber breaches, have brought the role of the
Information Commissioner’s Office into greater prominence. By Neasa MacErlean.
Online Published Date:
03 December 2018
Appeared in issue:
Vol 31 No 04 - 01 December 2018
AI versus humans – no competition?
Latest developments in automated technology can help financial services firms meet increasingly complex regulatory demands, but employees always have been, and always will be, a firm’s strongest or weakest link, argues Martin Schofield.
Online Published Date:
03 December 2018
Appeared in issue:
Vol 31 No 04 - 01 December 2018
Will SMCR change the way managers manage?
A poorly-executed implementation of SMCR, where bureaucracy replaces trust, may inadvertently introduce tensions between employees and their managers, argues Mark Turner.
Online Published Date:
04 December 2018
Appeared in issue:
Vol 31 No 04 - 01 December 2018
The Insurance Distribution Directive – time to plug any gaps
Though the directive is now in force, some firms are struggling with the more prescriptive product governance requirements as well as with handling conflicts of interest. Umar Mohamad provides pointers for ensuring compliance.
Online Published Date:
04 December 2018
Appeared in issue:
Vol 31 No 04 - 01 December 2018
Bank CEO refers £76k fine for AML failings to Upper Tribunal
By Neasa MacErlean
Online Published Date:
06 December 2018
Appeared in issue:
Vol 31 No 05 - 01 February 2019
What financial services firms need to know about Brexit right now (video)
The scheduled parliamentary vote on the Withdrawal Agreement is just days away, but further uncertainty seems inevitable – despite the rapidly approaching Brexit date of 29 March. Esther Martin talks to lawyers Jonathan Drake and Emma Radmore from Womble Bond Dickinson about the current picture for financial services firms.
Online Published Date:
07 December 2018
Appeared in issue:
Vol 31 No 04 - 01 December 2018
What financial services firms need to know about Brexit right now (video)
The scheduled parliamentary vote on the Withdrawal Agreement is just days away, but further uncertainty seems inevitable – despite the rapidly approaching Brexit date of 29 March. Esther Martin talks to lawyers Jonathan Drake and Emma Radmore from Womble Bond Dickinson about the current picture for financial services firms.
Online Published Date:
07 December 2018
Appeared in issue:
Vol 31 No 05 - 01 February 2019
Angela Burns fined £20k and banned after six-year appeals process
By Neasa
MacErlean
Online Published Date:
21 December 2018
Appeared in issue:
Vol 31 No 05 - 01 February 2019
FCA to regulate investment consultants as part of move to improve competition
By Neasa MacErlean
Online Published Date:
21 December 2018
Appeared in issue:
Vol 31 No 05 - 01 February 2019
Complaints remit to be extended to PSP receipts
By Neasa MacErlean
Online Published Date:
21 December 2018
Appeared in issue:
Vol 31 No 05 - 01 February 2019