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Compliance

1/5 of fund managers make MiFID II reporting errors

Information from the Financial Conduct Authority (FCA) this week shows that a fifth of UK fund managers have made errors in transaction reporting under the Markets in Financial Instruments Directive (MiFID) II regulation. The data was obtained by compliance consultants Duff & Phelps after a Freedom of Information request. It showed that 546 firms [...]

December 13th, 2019|Compliance|0 Comments

5 steps to creating a culture of compliance

Blog last month on How to implement a culture of compliance proved really popular. Creating compliant cultures is clearly still top of mind for many firms, with the need to embed an ethos of good governance never far from the priority list. We’ve therefore decided to revisit the topic of compliant cultures. Here, we [...]

December 6th, 2019|Compliance|0 Comments

Why is the FCA banning the promotion of speculative mini-bonds?

This week, the Financial Conduct Authority (FCA) announced a ban on the mass marketing of speculative mini-bonds to retail customers. Why has the regulator taken this step, and what implications does it have for Compliance teams? What does the ban entail and why has it been brought in now? The FCA announced that the [...]

November 29th, 2019|Compliance|0 Comments

How to ensure you are treating customers fairly

The Financial Conduct Authority’s (FCA) Treating Customers Fairly (TCF) rules sit at the heart of the regulator’s requirements. With its focus on consumer outcomes, the ethos of TCF is central to the FCA's work to ensure a fair deal for consumers. Fair treatment means ensuring your promotions aren’t unfair or misleading. It means having small print [...]

November 29th, 2019|Compliance|0 Comments

Approving financial promotions

Read the Financial Conduct Authority’s (FCA) guidance on approving the financial promotions of unauthorised persons. Firms which approve financial promotions are already required to ensure that those promotions comply with the rules, both in presentation and in substance. The guidance explains some practical implications of FCA existing requirements, rather than setting out new standards. [...]

November 26th, 2019|Compliance|0 Comments

Lack of trust hindering challenger bank growth – new research

UK growth in so-called ‘challenger’ banks is being held back by a lack of trust, research out this week has shown. Research by technology firm Fujitsu found that while challenger banks have ‘all the ingredients for success’, the ‘public’s trust in technology is a significant barrier to widespread adoption’. The findings came from a survey carried [...]

November 22nd, 2019|Compliance|0 Comments