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Significant changes to FCA decision making: Policy Statement CP 21/16

United Kingdom - December 9 2021 In early August 2021, we wrote about Consultation Paper CP 21/25, in which the FCA proposed certain changes to the role and responsibilities of its…

Steven Francis, Sarah Herbert

Is it possible to mitigate AML enforcement risks effectively?

European Union, United Kingdom - November 2 2021 In the UK, the FCA has repeatedly messaged concerns about the effectiveness of some firms' systems and controls, particularly against money…

Michelle de Kluyver

Are your firm's financial crime trends in line with the rest of the market?

United Kingdom - October 29 2021 Earlier this month, the FCA published aggregate data from annual financial crime returns (referred to as REP-CRIM) that it received for the reporting…

Richard McGarry

Defined benefit pension transfers: FCA enforcement action

United Kingdom - September 8 2021 In its recent 2021-22 Business Plan, the FCA emphasised again that defined benefit pension transfer advice remains on its radar, noting that it would…

Jade Murray

AML controls in retail banks: a month to go to mitigate risk

European Union, United Kingdom - August 16 2021 The FCA's recent 'Dear CEO' letter regarding anti-money laundering systems and controls presents clear enforcement and litigation risks for retail…

Michelle de Kluyver, Jonathan Steward, Sarah Thomas