Fixing the Laundering Cycle

written by William Jamieson – Manager, Regulatory Services. The COVID-19 Pandemic demonstrated two things. First, we humans are relatively good at adapting to changed circumstances and trying to carry on as best we can. Second, criminals will find opportunity even in adversity and will exploit it mercilessly. Nowhere is this [...]

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FCA admits FSCS levy is unsustainable

Speaking at the Personal Investment Management & Financial Advice Association (Pimfa) Virtual Fest V2, FCA director of life insurance and financial advice Debbie Gupta the FCA admitted that admitted the Financial Services Compensation Scheme (FSCS) levy is unsustainable. She added that the regulator shares the frustration of wealth managers and [...]

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FCA Announcements on the end of LIBOR

On 5 March 2021, the FCA announced the dates that panel bank submissions for all LIBOR settings will cease, after which representative LIBOR rates will no longer be available. This is an important step towards the end of LIBOR, and the Bank of England and FCA urge market participants to [...]

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PRA’s business plan for 2020/2021

On 9 April 2020, the PRA published its business plan for the year ahead. The PRA confirms that it has had to reassess its plans in light of COVID-19 and re-prioritise work and resources. In addition to cancelling the annual cyclical scenario stress test, delaying certain skilled person reviews and [...]

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