Category Archives: compliance consultancy services

Do You Have Control of Your Risk & Compliance Documents?

Deep in the heart of your company’s network directories are in all likelihood to be a variety of vital documents. These documents could well save your business in the event of prosecution, regulatory enforcement, employment tribunal or a complex insurance claim. They are your risk & compliance documents. Failure to manage and/or deliver this documented evidence can put your business at considerable risk of fines, regulatory scrutiny and even prosecution (even if you are actually compliant).

Can You Really Afford Generic Ongoing Compliance Support?

The problem with most firms, whether they be IFAs, Stockbrokers, Payment Services or whatever sector, is that the Compliance Officer is treated unfairly, if they are running the compliance function as a component of their job. Whether they are advising, trading or operate the financial side of the business, unlike 10 or even 5 years […]

Fresh FCA proposals on operational and security risk management by Payment Services Providers (PSPs)

  During March 2018, the FCA issued its consultation paper (CP18/6) on its proposed approach to the application of the European Banking Authority’s (EBAs) final guidelines on security procedures for operational and security risks of payments services under PSD2. The Latest Approach document, Version 2, was released 19th December 2018 https://www.fca.org.uk/publication/finalised-guidance/fca-approach-to-payment-services-electronic-money-2017.pdf.  Generally, the documents do […]

Can You Really Afford Generic Ongoing Compliance Support?

Compliance is an ambivalent function. On the one hand you are viewed as the regulators’ ally inside the investment firm; overseeing the implementation of their regulation. Meanwhile, you are paid by the investment company and a component of their culture and hierarchy. You might say ‘front office’ (traders making the money) considers compliance the way […]

Brand-new FCA suggestions on operational and security risk management by Payment Services Providers (PSPs)

During March 2018, the FCA released its consultation paper (CP18/6) on its proposed approach to the application of the European Banking Authority’s (EBAs) final guidelines on security strategies for operational and security risks of payments services under PSD2.

Updated FCA proposals on operational and security risk management by Payment Services Providers (PSPs)

During March 2018, the FCA released its consultation paper (CP18/6) on its proposed approach to the application of the European Banking Authority’s (EBAs) final guidelines on security strategies for operational and security risks of payments services under PSD2.

SMCR: Head of Legal Position – January 2019

The FCA has confirmed that it will not require the registration, as an SMF18 or SMF22, of any person with overall responsibility for the Legal function. This is still conditional further consultation in CP19-04. Firms will need professional help in implementing this complex system.

Underpinning better decision-making by Using Effective Management information for conduct risk

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The philosophy of “conduct risk” has risen to the top of firms’ and regulators’ agendas lately. In the UK, the FCA presumes conduct risk management as being lodged into firms’ risk management frameworks, sustained by relevant management information (MI). Building on latest regulatory and supervisory expectations and our expertise of what works well in practice […]

Significant Rise In RegTech Costing Forecast By 2023

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This is according to a new report from Juniper Research, which estimates that spending on RegTech solutions, specifically, will escalate from an estimated $18bn (₤ 14bn) this year to $115bn (₤ 100bn) by 2023. Financial commitment is forecast to go up by an average of 45% per annum over the next five years, far more […]

Underpinning better decision-making by utilising Effective Management information for conduct risk

The philosophy of “conduct risk” has risen to the top of firms’ and regulators’ agendas lately. In the UK, the FCA presumes conduct risk management to be embedded into firms’ risk management frameworks, sustained by suitable management information (MI). Building on latest regulatory and supervisory requirements and our prior experience of what works well in […]