FCA and AMLA Crack Down on Crypto Criminals
The rapid rise of cryptocurrencies has brought unprecedented opportunities for innovation within the financial industry, but it has also created ground prolific for financial crime. Recent actions by the United […]
CP25/21: Inside the FCA’s Proposed Changes to SM&CR
The Senior Managers & Certification Regime (SM&CR) was introduced to strengthen individual accountability across the financial services sector. It replaced the Approved Persons Regime, applying to banks in 2016 and […]
Treatment of Politically Exposed Persons in AML Compliance
Importance of PEP Identification and Management Effective identification and management of Politically Exposed Persons (PEPs) is a cornerstone of robust Anti-Money Laundering (AML) frameworks for financial institutions. PEPs, due to […]
Strengthening Financial Services Through Technology and Oversight
The Financial Conduct Authority (FCA) has released its Annual Report for 2024, marking the final year of its 2022-2025 strategic cycle. The report highlights significant achievements in using data and […]
FCA Multi-Firm Review: Risk Management and Wind-Down Planning
Overview The UK payments sector is experiencing significant growth and innovation, driven by technological advancements and changing consumer preferences. However, this rapid expansion has not always been accompanied by mature […]
FCA Quarterly Consultation No. 48: What Firms Need to Know
Introduction On 6 June 2025, the UK’s Financial Conduct Authority (FCA) issued CP25/16, a Quarterly Consultation Paper (No. 48). The consultation outlines a series of targeted proposals to update the […]
FCA Introduces Faster Authorisation Timelines to Support Growth
The Financial Conduct Authority (FCA) has announced a bold initiative to accelerate approvals for new firms and regulatory variations, designed to fuel growth, support innovation and maintain the UK’s position […]
FATF’s Global Fight Against Terrorist Financing and Proliferation Financing
The Financial Action Task Force (FATF) has issued a series of significant updates in 2025, reinforcing its three core pillars: combatting money laundering, terrorist financing, and proliferation financing. Two key […]
Barclays Fined £45 million: Poor Money Laundering Checks and Failures
Overview Just last week, the Financial Conduct Authority (FCA) imposed a £42 million fine on Barclays Bank UK PLC and Barclays Bank PLC for significant shortcomings in managing financial crime […]
Data Breaches and ICO Enforcement
The Information Commissioner’s Office (ICO) has intensified its focus on data protection, with recent enforcement actions underscoring the critical need for robust cybersecurity measures. High-profile data breaches, such as those […]