Extension of Senior Managers Regime and Certification Regime
Government considers it appropriate to extend the Senior Managers Regime (SMR) and the Certification Regime (CR) to all financial firms
Regulatory References
Consultation Paper CP15/31 proposes the introduction of new SYSC Chapter 22 ‘Regulatory References’
Whistleblowing
A new SYSC section, SYSC 18.4, introduces the concept of a whistleblowers’ champion
AIFMD Passport Extension: Second Round
Steven Maijooradvises a second round of non-EEA country assessments will take place.
AML: UK Risk Management
HM Treasury publishes first money laundering and terrorist financing National Risk Assessment (NRA)
Disclosure Requirements
FCA publishes “Smarter Consumer Communications: Removing ineffective disclosure requirements in our Handbook”.
UCITS V: HM Treasury Consultation
In September the FCA published it consultation paper (CP 15/27) on the implementation of UCITS V
Money Laundering: Due Diligence Risk Factors
The three ESAs (ESMA, EBA and EIOPA) have published a joint consultation paper on simplified and enhanced customer due diligence guidelines
Common Reporting Standards: FATCA
The International Tax Compliance Regulations 2015 (SI 2015/878) came into force in April this year placing new obligations on financial institutions