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What is the FCA doing to tackle the ‘loyalty penalty’?

Last week, the Financial Conduct Authority (FCA) published an update on its work to address issues raised in the Citizens Advice ‘super-complaint’. What has the financial regulator done to tackle the failings outlined in the complaint? What was the Citizens Advice super-complaint about? The super-complaint was issued in September 2018. It followed research from [...]

January 17th, 2020|Compliance|0 Comments

Misleading financial promotions land firm with FCA fine

At the end of last year, claims management firm Professional Personal Claims Limited was hit with a £70,000 fine from the Financial Conduct Authority (FCA). What was the fine for, and are there lessons other regulated firms – not just claims management companies – can learn to avoid the same fate? Regulator clamps down [...]

January 12th, 2020|Compliance|0 Comments

FTSE100 companies need to do better

FTSE100 companies need to do better on governance and reporting. That’s the upshot of a new report by the Financial Reporting Council, released this week. The report, which forms the Council’s annual review of the UK Corporate Governance Code, says that companies need to improve governance practices and reporting if they are to ‘demonstrate [...]

January 10th, 2020|Compliance|0 Comments

Do You Need An Interim Risk And Compliance Professional?

Do You Need An Interim Risk And Compliance Professional?  Anyone working in a regulated industry is familiar with the significance of compliance. Meeting regulatory requirements is increasingly important in a world where governance rules, and risk and compliance specialists continue to be in high demand. As a compliance professional you probably think my job is [...]

January 6th, 2020|Compliance|0 Comments

FCA levies record fines – how to stay out of its sights

This year, the Financial Conduct Authority (FCA) issued fines totalling £391.8m – up more than 550% on last year’s total. This is according to research by law firm RPC, quoted in a City a.m. article. What has driven the increase in fines? The largest fines issued this year follow a crackdown on the mis-selling of [...]

December 23rd, 2019|Compliance|0 Comments

SMCR extended to 47,000 firms – what do you need to know?

On 9 December, the Senior Managers and Certification Regime was extended. It now covers 47,000 firms. If your firm is one of these, what do you need to know and what do you need to do? What is the SMCR? The regulator published its final rules on the extension of the regime in the summer. [...]

December 20th, 2019|Compliance|0 Comments