UK’s Data Protection and Digital Information Bill

In September 2021, the UK Government launched its public consultation exercise, “Data: A new direction”, to help inform its intended development and proposals of how it wished to reform the UK’s data protection laws. Part of the Government’s 10 Tech Priorities, the consultation included some revolutionary ideas with the intention [...]

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Cyber Security: No longer a Luxury

Cybersecurity is one of the biggest challenges facing the financial services market today and cyber-attacks are an ever-increasing threat to companies’ financial stability. Research conducted by the Direct Line Business Insurance shows that the level of knowledge around cybersecurity is poor and that only about one in six small business [...]

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Misuse of personal devices at work

You may have seen an article we wrote in March this year on the risks associated with mobile messaging and how regulating record keeping practices in financial services firms is slowly becoming a priority amongst the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Additionally, [...]

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Is The OFSI Stepping up?

In the “Corruption Crackdown: Amending the Economic Crime Bill” article we published on the 21st    March 2022, we explained how changes were on their way for the Office for Financial Sanctions Implementation (OFSI). With the new Economic Crime (Transparency and Enforcement) Act 2022 these changes came to fruition, in particular [...]

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Following the Money: Recent FATF Compliance Findings

Historically, Financial Action Taskforce (FATF) evaluations focused on their member countries having implemented the recommendations. Now, the evaluations focus much more heavily on the effectiveness of the implementation. This is a firm move away from it being acceptable to have simply put procedures in place; now, countries also have to [...]

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Troublesome Texts: Managing the Risks of Mobile Messaging

Regulating record-keeping practices, whilst important, has not always been a top priority for financial services regulators around the world—especially as the monitoring of such activity (to a greater or lesser degree) is examined through the lens of data protection legislation. However, regulatory approaches are changing: the U.S. Securities and Exchange [...]

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