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Overseas Fund Regime – The Next Steps

Following the UK’s exit from the European Union (EU) in 2020, European Economic Area (EEA) funds authorised under the UCITS (Undertakings Collective Investment in Transferable Securities) Directive have only been […] [...]

Understanding the FCA’s Threshold Conditions

The Financial Conduct Authority (“FCA”) is a regulatory body in the United Kingdom responsible for overseeing the conduct of financial services firms and financial markets to ensure they operate in […] [...]

ICARA: Process and Requirements

The Internal Capital Adequacy and Risk Assessment (ICARA) process, introduced by the Investment Firm Prudential Regime on 1st January 2022, is a comprehensive internal capital and risk assessment mechanism for […] [...]

Understanding the new Proposed FOS Charges

What is FOS? The Financial Ombudsman Service (“FOS”) is a free financial dispute resolution service that Acts as a fair and impartial judge for eligible complainants. These eligible complainants must […] [...]

CP24/6: FCA Consulting on Regulated Fees and Levies for 2024/25

The Financial Conduct Authority (“FCA”) published consultation paper (“CP”) CP24/6 on 9 April 2024 and has since expanded on its contents on 29 May 2024 with the addition of an […] [...]

Urgent Action Needed as Consumer Duty Deadline for Closed Books Looms

With over 1 month until the 31 July 2024 implementation deadline, financial services firms must accelerate their preparations to apply the Consumer Duty to closed products and services. The FCA […] [...]

Complyport’s New AI Tool – ViCA.Chat – Set to Revolutionise Compliance Support Services

ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance […] [...]

FCA’s Authorisation Excellence: A Beacon of Efficiency and Transparency

The Financial Conduct Authority (“FCA”) has long been synonymous with the robust regulation of the UK’s financial markets. In its latest release of operating service metrics for Q4 of 2023/24, […] [...]

Investment Research: Evolving Regulations and Implications for the UK Market

Introduction to CP24/7 In July 2023, the UK government published findings from the Investment Research Review (“Review”) as part of the Edinburgh Reforms, aimed at boosting research production to stimulate […] [...]

Embarking on the Journey to FCA Authorisation: Your Guide to E-Money and Payment Institution Licensing

In the dynamic world of financial services, becoming an authorised Electronic Money Institution (“EMI”) or Payment Institution (“PI”) is a transformative step for businesses aiming to grow and innovate. The […] [...]

The FCA Implements Finalised Guidance on Anti-Greenwashing Rule as May 2024 Deadline Takes Effect

As of 31st May 2024, all authorised firms must comply with the Anti-Greenwashing Rule enforced by the Financial Conduct Authority (“FCA”). The FCA published its finalised guidance (FG24/3) last month […] [...]

Understanding HMRC’s Role in AML Supervision

What is HMRC AML supervision? His Majesty’s Revenue and Customs (HMRC) Anti-Money Laundering (AML) supervision refers to the oversight provided by the authority under the Money Laundering, Terrorist Financing and […] [...]

FCA Reforms UK Listing Rules

The Financial Conduct Authority has published a final draft of it proposed reforms to UK rules for the listing of shares on UK Stock Exchanges. This will have an impact […] [...]

Empowering Financial Services: The Strategic Alliance of Principals and Appointed Representatives

In the dynamic landscape of financial services, the role of Appointed Representatives (“ARs”) has been pivotal in extending the reach of regulated activities without the need for direct authorisation. However, […] [...]

The 6 Benefits of Resourcing Compliance Expertise

Navigating the ever-evolving landscape of regulatory compliance standards is a constant challenge for financial services firms. Maintaining an in-house team with the required expertise, experience and time commitment can be […] [...]

Diversity, Equality and Inclusion: Elevating Financial Services with Complyport

In today’s evolving business landscape, Diversity, Equality and Inclusion (DE&I) have become cornerstones of progressive financial services. The Financial Conduct Authority (FCA) emphasises the importance of DE&I in fostering a […] [...]

Updates to the UK Cryptoasset Regulatory Framework

The United Kingdom aims to bring clarity and oversight to the rapidly expanding cryptoasset market via a comprehensive regulatory regime. These regulations, once implemented, will represent a significant step towards […] [...]

REP018 Compliance

What is the Purpose of REP018 for Payment Service Providers? REP018 is a mandatory reporting requirement for all UK-authorised Payment Service Providers (PSPs). This regulation, enforced by the Financial Conduct […] [...]

FCA Dear CEO letter – The need for firms to maintain adequate financial resources

It has now been a few months since the Financial Conduct Authority (“FCA”) began its probe into motor finance practices, specifically the use of discretionary commission arrangements. Whilst that work […] [...]

Operational Resilience in Digital Payments: Deadline Approaching for Payments Institutions

Key Considerations for Payments Institutions With under a year left until the Operational Resilience implementation deadline, firms caught under the FCA Operational Resilience requirements must take prompt action. Entities authorised […] [...]

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