Transaction Monitoring and Money Laundering Risks: Metro Bank PLC case study
Monitoring the risk of criminal misuse of the UK’s financial system remains a supervisory priority for the FCA, with an evident risk of financial and other penalties for non-compliant firms. […]
CP24/25: FCA Fees and Levies for 2025/26
The FCA recently released its Consultation Paper CP24/25, detailing proposed changes to regulatory fees and levies for the 2025/26 financial year. This Consultation is part of the FCA’s annual review […]
FCA Expectations for Self-Invested Personal Pension (SIPP) Operators
The FCA has recently issued a portfolio letter to Self-Invested Personal Pension (SIPP) operators, detailing its expectations and priorities for 2024. This follows a Dear CEO letter sent to these […]
FCA PS24/17: Financial Crime Changes
The FCA introduced significant updates to its Financial Crime Guide (“FCG”) through Policy Statement PS24/17. This revision aligns with the FCA’s 2022-2025 Strategy, emphasising proactive and data driven supervision to […]
Companies House Turns the Table on Financial Criminals
New Identity Verification Requirements for UK Companies In the realm of rising financial crime, both AML specialists and financial criminals have long identified Companies House as a target for fraud. […]
Dear CEO Letter for CFD providers
Introduction: The FCA’s Approach to Contracts for Difference (CFDs) The latest “Dear CEO” letter outlines the FCA’s strategic focus for the next two years in the CFD portfolio sphere. It […]
FCA Short Selling Regulation and its Importance in Financial Markets
Short-selling regulation (“SSR”) is a key aspect of financial market oversight aimed at promoting fair trading practices and ensuring market stability. Short selling has been regulated in the United Kingdom […]
How to Pass the FCA’s Fit and Proper Test for Key Personnel and Proposed SMFs
The Financial Conduct Authority (“FCA”) sets high standards for individuals in Senior Management Functions (“SMFs”) and Certification function individuals within regulated firms. The Fit and Proper (“F&P”) Test as outlined […]
Mansion House Speech 2024 – What’s Next for Regulation?
Introduction On 14th November 2024, the Chancellor Rachel Reeves, delivered her Mansion House package setting out the government’s plans for the UK economy moving forward. The agenda looks to create […]
Financial Promotions: HNWI and Sophisticated Investors certificates update
The UK Financial Promotions regime has been through a plethora of updates in the recent years. In February 2024, a £31,800 fine was imposed on a former director of London […]