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Fine and prohibition for failings as MLRO

United Kingdom - October 27 2016 AML failings have led the FCA to prohibit a bank MLRO from performing compliance oversight and money laundering-related functions at regulated firms…

Caroline Bystrom, Jonathan Rogers

Open Banking - open data, open access?

United Kingdom - June 11 2018 PSD2 is here and Phase 2 of Open Banking is underway. We look at the implications for account servicing payment service providers (ASPSPs) and third…

Taking on PSD2: Meeting compliance and re-authorisation deadlines

United Kingdom - November 13 2017 With two key cut-off dates for compliance with the new Payment Services Directive (PSD2) coming up in early 2018, all payment services and e-money…

Jonathan Rogers

Fine and business restrictions for anti-money laundering failings

United Kingdom - October 27 2016 AML failings have led the FCA to ban a bank from accepting deposits from any new customers for 168 days and levy a £3,250,600 fine. The Financial…

Caroline Bystrom, Jonathan Rogers

Agency, fiduciary duties, and commission disclosures - Pickup the tab on that loan

United Kingdom - May 23 2017 In Commercial First Business Ltd v Pickup & Vernon, the High Court decided that a broker did not owe a borrower a fiduciary duty to disclose the…

Caroline Bystrom