Introduction We are now a little over a year into the full implementation of the Consumer Duty, on 31st July 2023, with closed products now also subject to the rules. In September 2024 the FCA reviewed price and value considerations across the industry, producing a summary of its findings. These [...]
The Digital Securities Sandbox (DSS) Following its launch in December 2023, and the joint Bank of England and FCA Consultation Paper in April 2024, the DSS is now open for applications. The DSS is an FCA initiative launched in December 2023 to enable and support financial innovation, specifically designed for [...]
On 23rd September 2024, the Financial Conduct Authority (FCA) revealed that none of the 25 Professional Body Supervisors (PBS) under its supervision were fully effective in Anti-Money Laundering (AML) controls. PBSs are organisations that oversee and regulate professionals in specific industries, such as accountants and lawyers. They are, in essence, [...]
In June 2023, the FCA introduced new requirements for promoting qualifying cryptoassets to retail clients, known as the ‘back end’ rules. These rules aim to enhance consumer protection and ensure that firms adhere to high standards when promoting cryptoassets. The key components of these rules include a 24-hour cooling-off period, [...]
The FCA has published a Consultation Paper (“CP24/20”) on proposed significant changes to the safeguarding regime for payments and e-money firms. With these changes, the FCA aims to strengthen its framework to ensure consumer protection and mitigate the risks associated with firm failures. The Consultation Paper outlines interim and long-term [...]
Webinar On Demand: Consumer Duty Q&A : Expert Insights and Answers This webinar is now available to view on demand Our webinar on Expert Witness Services was held on October 10th, 2024. The webinar is now available on demand, and you can download it by filling out the form. By [...]
On 6th September 2024, the FCA published its Quarterly Consultation Paper No. 45 (CP24/18) on proposed miscellaneous amendments to the FCA Handbook. These are relatively minor changes, however, the Regulator is still looking for firms’ feedback before implementing these proposals. In Chapter 3, the FCA is proposing to amend the [...]
Silver medal for UK in Money Laundering Offences The United Kingdom has been ranked second globally for money laundering offences, according to the latest report by Smart Search. The report analysed data between August 2013 and August 2023 and categorised Anti-Money Laundering (AML) related events into various types, with financial [...]
Introduction On 8th December 2022 the Financial Conduct Authority (“FCA”) set out new rules and enhanced expectations for Principal firms in PS22/11. For more information on the changes made by PS22/11, take a look at our previous article; New FCA Rules to Tighten up the Appointed Representatives Regime with PS22/11. [...]
The Regulatory Gateway for Financial Promotions is Here
Navigating KYC Challenges in 2024: Insights from the Q&A Session
Webinar Recording – KYC: Challenges Around KYC and Best Practices for 2024
Navigating the Financial Promotions Gateway Ahead of the FCA Deadline, 7th February 2024
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