FCA’s New Transparency Framework for Bond and Derivatives Markets
The FCA has introduced an updated transparency framework in the UK aimed at refining the bond and derivatives markets to foster enhanced market integrity, investor protection and competition. This initiative […]
Consumer Duty Board Reports: Examples of Good and Poor Practices
The Financial Conduct Authority (‘FCA’) has recently published a comprehensive assessment of Consumer Duty Board Reports, identifying both strong practices and areas requiring improvement, aiming for firms to improve their […]
Research Payment Optionality Expansion – Fund Managers
Introduction With the introduction of payment optionality in July 2024 for MiFID investment firms through PS24/9, the FCA is now consulting to expand this optionality further to asset managers who […]
Operational Resilience Lessons Learned: The CrowdStrike Outage
Introduction The FCA continues to emphasise the necessity for a firm’s operational resilience framework and their ability to deliver important business services in severe circumstances. Following the CrowdStrike outage, the […]
Cyber Resilience and the FCA’s Expectations for Financial Institutions
Importance of cyber security Cybersecurity is a critical component of operational resilience for firms in the financial sector. As financial institutions increasingly rely on digital infrastructure to manage transactions, store […]
FCA FG24/5: Prudential Assessment of Acquisitions and Increases in Control
Recently the FCA and PRA presented their findings PS18/24 after a period of consultation, within CP 25/23, regarding prudential assessment of acquisitions and increases in control. The FCA has also […]
Good Practice and Areas to Improve – Consumer Duty Price and Value
Introduction On 18th September 2024, the Financial Conduct Authority (“FCA”) set out an update to its initial observations of the Price and Value framework introduced by the Consumer Duty (the […]
FCA Regulated Firms Ongoing Obligations
Obtaining authorisation from the Financial Conduct Authority (“FCA”) is a significant milestone for any financial services firm operating in the UK. However, authorisation is not the end of the regulatory […]
KYC Outsourcing – Cut the Cost of Compliance!
UK firms are spending the equivalent of £21k per hour on fighting financial crime (Lexis Nexis Compliance Report 2023). Despite this burgeoning cost which continues to rise, research indicates that […]
Debt Management Firms Authorisation
Debt management firms play a vital role in helping individuals manage their debts effectively, particularly when facing financial difficulties. Operating under the Financial Conduct Authority (“FCA”) regulations in the UK, […]