Big Tech and Digital Wallets under the radar: FCA Consultation Paper
Introduction The Payment Systems Regulator (PSR) and the Financial Conduct Authority (FCA) have published a joint Consultation Paper (“CP24/9”) exploring the current landscape, competitive dynamics, opportunities, risks and regulatory considerations […]
Decrypting AML Risk Assessments and the FATF’s High-Risk Jurisdictions
What are AML Risk Assessments and Why are They Important? Anti-Money Laundering (AML) Risk Assessments are systematic evaluations conducted by financial institutions to identify, assess and mitigate the risks of […]
Markets in Crypto-Assets Regulation (MiCA) – a Snapshot of the Story so Far
Introduction Crypto-assets are becoming increasingly popular as financial products, with more and more businesses venturing into the ‘crypto space’. This has brought an increasing focus from Regulators on how these […]
Overseas Fund Regime – Practical Considerations
As outlined in our previous article, the government has introduced a more streamlined entry gateway to the UK market for European Economic Area (EEA) funds authorised under the UCITS (Undertakings […]
FCA Quarterly Consultation No. 44 (CP24/11) – Proposed Handbook Changes Relevant to Funds
On 08 July 2024, the FCA published its Quarterly Consultation Paper No. 44 (CP24/11) on proposed miscellaneous amendments to the FCA Handbook. These are relatively minor changes, however the Regulator […]
Establishing a Robust Compliance Framework in the Insurance Industry
Ensuring compliance is paramount in all sectors, including the insurance industry. A comprehensive compliance framework must address all critical elements, including stringent consumer data protection and effective anti-money laundering (AML) […]
The Dark Underbelly of the Insurance Industry Exposed as FCA Sharpens Focus on Non-Financial Misconduct in the Insurance Sector
The Financial Conduct Authority (FCA) has heightened its scrutiny of non-financial misconduct within the insurance industry. Conduct issues such as discrimination, harassment, bullying and victimisation have become a top priority […]
FCA Insurance multi-firm review of outcomes monitoring – Consumer Duty
On 26th June 2024, the Financial Conduct Authority (FCA) published the findings of a review it had carried out on how insurance firms monitor, assess and test the outcomes their […]
Understanding the National Private Placement Regime
The National Private Placement Regime (“NPPR”) stands as a pivotal framework for Alternative Investment Fund Managers (“AIFMs”) looking to access the UK’s lucrative investment market. With the UK’s departure from […]
The EU Anti-Money Laundering Reforms: Everything You Need to Know
The European Union’s new Anti-Money Laundering (AML) reforms are set to transform the financial sector with the establishment of the Anti-Money Laundering Authority (AMLA). The new EU authority, which will […]