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Financial Promotions: HNWI and Sophisticated Investors certificates update

The UK Financial Promotions regime has been through a plethora of updates in the recent years. In February 2024, a £31,800 fine was imposed on a former director of London […] [...]

FCA’s New Transparency Framework for Bond and Derivatives Markets

The FCA has introduced an updated transparency framework in the UK aimed at refining the bond and derivatives markets to foster enhanced market integrity, investor protection and competition. This initiative […] [...]

Consumer Duty Board Reports: Examples of Good and Poor Practices

The Financial Conduct Authority (‘FCA’) has recently published a comprehensive assessment of Consumer Duty Board Reports, identifying both strong practices and areas requiring improvement, aiming for firms to improve their […] [...]

Research Payment Optionality Expansion – Fund Managers

Introduction With the introduction of payment optionality in July 2024 for MiFID investment firms through PS24/9, the FCA is now consulting to expand this optionality further to asset managers who […] [...]

Operational Resilience Lessons Learned: The CrowdStrike Outage

Introduction The FCA continues to emphasise the necessity for a firm’s operational resilience framework and their ability to deliver important business services in severe circumstances. Following the CrowdStrike outage, the […] [...]

Cyber Resilience and the FCA’s Expectations for Financial Institutions

Importance of cyber security Cybersecurity is a critical component of operational resilience for firms in the financial sector. As financial institutions increasingly rely on digital infrastructure to manage transactions, store […] [...]

FCA FG24/5: Prudential Assessment of Acquisitions and Increases in Control

Recently the FCA and PRA presented their findings PS18/24 after a period of consultation, within CP 25/23, regarding prudential assessment of acquisitions and increases in control. The FCA has also […] [...]

Good Practice and Areas to Improve – Consumer Duty Price and Value

Introduction On 18th September 2024, the Financial Conduct Authority (“FCA”) set out an update to its initial observations of the Price and Value framework introduced by the Consumer Duty (the […] [...]

FCA Regulated Firms Ongoing Obligations

Obtaining authorisation from the Financial Conduct Authority (“FCA”) is a significant milestone for any financial services firm operating in the UK. However, authorisation is not the end of the regulatory […] [...]

KYC Outsourcing – Cut the Cost of Compliance!

UK firms are spending the equivalent of £21k per hour on fighting financial crime (Lexis Nexis Compliance Report 2023). Despite this burgeoning cost which continues to rise, research indicates that […] [...]

Debt Management Firms Authorisation

Debt management firms play a vital role in helping individuals manage their debts effectively, particularly when facing financial difficulties. Operating under the Financial Conduct Authority (“FCA”) regulations in the UK, […] [...]

New APP Fraud Reimbursement Regulations

What is Authorised Push Payment Fraud Authorised Push Payment (APP) Fraud occurs when someone is tricked into authorising a payment to a fraudster posing as a legitimate recipient. APP Fraud […] [...]

Dear CEO: FCA’s Expectations for Financial Advisers and Investment Intermediaries

On 7 October 2024, the Financial Conduct Authority (FCA) wrote a Dear CEO letter to financial advisers and investment intermediaries. The Letter provides an outline of the FCA’s priorities and […] [...]

AI in Financial Services

AI and its impact in financial services Artificial Intelligence (AI) has the potential to bring huge benefits, or, in some cases, significant risks. In the financial services sector, the possibilities […] [...]

FCA PS24/10: Expansion of the Dormant Assets Scheme – Second Phase

Overview The Dormant Assets Scheme The Dormant Assets Scheme (DAS) is a UK government initiative designed to reunite people with their dormant financial assets, such as bank accounts, insurance policies […] [...]

Corporate Finance Authorisation in the UK

The Corporate Finance regime in the UK consists of firms that offer various financial services and provide financial advisory services to corporate clients, such as companies, businesses and institutional investors. […] [...]

FCA Proposed Changes to Consumer Credit Regulatory Returns

The FCA is proposing significant changes to consumer credit regulatory returns, targeting firms involved in activities like credit broking, debt adjusting, debt counselling and providing credit information services. These proposed […] [...]

Upcoming Retail-Disclosure Requirements Reform

Introduction On 19th September 2024 the Financial Conduct Authority (“FCA”) announced its commitment to reform the retail disclosure requirements, moving away from the EU-inherited consumer cost disclosure regulations. The reform […] [...]

Key Messages for Firms – Consumer Duty Fair Value Assessment

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. […] [...]

The FCA Digital Securities Sandbox

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 […] [...]

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