Systems and Controls - Complyport UK Consultancy Service

ESMA Guidelines on aspects of MiFID II suitability requirements

The European Securities and Markets Authority (“ESMA”) has published its Final Report on Guidelines on certain aspects of the Markets in Financial Instruments Directive (“MiFID II”) suitability requirements. The assessment […] [...]

FCA to regulate pre-paid funeral plans

The sale of pre-paid funeral plans is currently regulated by the Funeral Planning Authority (“FPA”), a self-regulatory body, rather than the Financial Conduct Authority (“FCA”). Due to concern about the […] [...]

FCA publishes draft rules on how it will regulate Claims Management Companies

The Financial Conduct Authority (“FCA”) has published draft rules outlining how it will regulate Claims Management Companies (“CMCs”) when regulation passes to it on 1 April 2019. At the same […] [...]

Alternative Finance Investment Bonds to be permitted to trade on MTFs & OTFs

A draft statutory instrument (“the Order”) entitled Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2018 was laid before Parliament on 9 May 2018 and is awaiting formal […] [...]

Further amendments to the JMLSG Guidance

Of relevance to: All regulated firms Key dates: Applicable from 17 May 2018 The Joint Money Laundering Steering Group (“JMLSG”) has published revisions to sector 12: Asset finance and sector […] [...]

FCA Data on UK Financial Crime

Of relevance to: All firms In a speech by Megan Butler, Executive Director of Supervision – Investment, Wholesale and Specialists at the Financial Conduct Authority (“FCA”), delivered at the Anti-Money […] [...]

Data Protection Act 2018

Of relevance to: All regulated firms Key dates: Royal Assent 23 May 2018 The Data Protection Act 2018 replaces the Data Protection Act 1998 and provides a comprehensive legal framework […] [...]

Sanctions and Anti-Money Laundering Act 2018

Of relevance to: All regulated firms Key date: Royal Assent 23 May 2018 The Sanctions and Anti-Money Laundering Act 2018 received Royal Assent on 23 May 2018, creating a new […] [...]

ICO: Data Protection registration and fees

Of relevance to: All firms processing personal data, including data controllers currently registered with the ICO Key date: Applicable from 25 May 2018 The General Data Protection Regulation (“GDPR”) removes […] [...]

FCA Financial Crime Guide to have new chapter on insider dealing and market manipulation

Of relevance to: All firms subject to the financial crime rules in SYSC 6.1.1R, and who arrange or execute transactions in financial markets Key dates: Comments to FCA by […] [...]

FCA publishes its Business Plan for 2018/19

Of relevance to: All firms The Financial Conduct Authority (“FCA”) has set out its key priorities for the coming year in its Business Plan for 2018/19, along with its […] [...]

FCA introduces new rules and guidance on how advice should be provided to consumers on pension transfers

Of relevance to: All firms advising on pension transfers, those acting as pension transfer specialists, pension providers, and organisations providing software for pension transfer advice Key dates: 1 April 2018 […] [...]

ESMA prohibits binary options and restricts CFDs to protect retail investors

Of relevance to: All firms providing contracts for differences and/or binary options to retail investors Key date: Applicable from two months, for CFDs, and one month, for binary options, after […] [...]

GDPR – Are you ready?

Of relevance to: All firms Key date: Are you ready for 25 May 2018? Are you ready? On 25 May 2018, the General Data Protection Regulation (“GDPR”) will come into […] [...]

FCA and PRA multi-firm review on Algorithmic Trading Compliance in Wholesale Markets

Of relevance to: All firms carrying out algorithmic trading in wholesale markets The Financial Conduct Authority (“FCA”) and Prudential Regulation Authority (“PRA”) have been reviewing firms’ algorithmic trading activity and […] [...]

GDPR Compliance is now a board level responsibility

Of relevance to: All FCA-regulated firms Key date: Applicable from 25 May 2018 The Financial Conduct Authority (“FCA”) have stated that compliance with the EU General Data Protection Regulation (“GDPR”) […] [...]

SM&CR: FCA to consult on proposals to make information available on a wider range of individuals at authorised firms

Of relevance to: All FCA-regulated firms not currently within the Senior Managers & Certification Regime Key date: Summer 2018 The Financial Conduct Authority (“FCA”) and the Prudential Regulation Authority (“PRA”) […] [...]

FCA CP17/37 Industry Codes of Conduct and Discussion on Principle 5 Market Conduct

Of relevance to: Authorised firms, particularly those already subject to the Senior Managers and Certification Regime, including banks, building societies, credit unions and certain large investment banks Key date: Comments […] [...]

FCA Review: Suitability

Of Relevance to: Firms providing personal recommendations to retail customers The FCA seems happy with the outcome of a review of suitability it undertook last year which captured 1,142 individual […] [...]

Category: Systems and Controls

ESMA Guidelines on aspects of MiFID II suitability requirements

FCA to regulate pre-paid funeral plans

FCA publishes draft rules on how it will regulate Claims Management Companies

Alternative Finance Investment Bonds to be permitted to trade on MTFs & OTFs

Further amendments to the JMLSG Guidance

FCA Data on UK Financial Crime

Sanctions and Anti-Money Laundering Act 2018

FCA Financial Crime Guide to have new chapter on insider dealing and market manipulation

FCA publishes its Business Plan for 2018/19

FCA introduces new rules and guidance on how advice should be provided to consumers on pension transfers

ESMA prohibits binary options and restricts CFDs to protect retail investors

FCA and PRA multi-firm review on Algorithmic Trading Compliance in Wholesale Markets

SM&CR: FCA to consult on proposals to make information available on a wider range of individuals at authorised firms

FCA CP17/37 Industry Codes of Conduct and Discussion on Principle 5 Market Conduct

FCA Review: Suitability

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