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FCA fines firm for skill, care and diligence failings

Today (11 October), the Financial Conduct Authority (FCA) announced that it has fined broker Tullett Prebon (Europe) Limited £15.4 million. The fine is a result of the firm ‘failing to conduct its business with due skill, care and diligence, failing to have adequate risk management systems and for failing to be open and cooperative with [...]

October 11th, 2019|Compliance|0 Comments

Compliance Documentation

Compliance Documentation Writing of a Regulatory Business Plan For any FCA Application you are required to have a Regulatory Business Plan, which advises the FCA of your business and how it operates in line with meeting threshold conditions. This will explain to the FCA who you are, how your firm operates and how [...]

October 7th, 2019|Comments Off on Compliance Documentation

SM&CR MISCONCEPTIONS: The Certification Regime is easy to implement

Assuming you have done all you need for the Senior Managers Regime on 9th December 2019. You have identified those impacted, and they are all ready, you’ve even got a project plan for ongoing compliance oversight and monitoring of the new regime. It might feel like plain sailing from now, but with the excitement [...]

October 7th, 2019|Compliance|0 Comments

How to comply with new FCA rules on insurance pricing

Today (4 October) the Financial Conduct Authority (FCA) published the interim report of its market study into the pricing of home and motor insurance - but if you don’t want to wade through its 69 pages, we’ve summarised the key findings here: What is the FCA’s market study on insurance pricing? The regulator launched [...]

October 4th, 2019|Compliance|0 Comments

SM&CR Solo Regulated FAQ’s

The extension of the Senior Managers and Certification Regime (SM&CR) to Financial Conduct Authority (FCA) solo-regulated firms will affect over 45,000 financial companies. But how will the extension impact your firm? In short, every employee at a firm regulated by the FCA will be affected by the regime. The SM&CR is created to hold every one [...]

October 2nd, 2019|Compliance|0 Comments

How prepared is the financial services industry for Brexit?

How prepared is the financial services industry for Brexit? The Financial Conduct Authority (FCA) has been proactive in planning for the UK’s departure from the EU. But how have financial services firms responded? FCA chief executive Andrew Bailey spoke at an industry conference on 16 September, and outlined the preparation financial services firms had [...]

September 27th, 2019|Compliance|0 Comments