Making Compliance Work: A Short Overview of Board Minutes

Lee Werrell, Chartered FCSI and owner of Compliance Consultant states, “As with all good compliance; it’s not what you do, it’s what you wrote down that you did and why”.

What Is The SMCR Implementation Time Scale

sm&cr smcr smf

Concerning the SMCR for remaining FCA authorised firms under FSMA Authorisation The largest challenge for the remaining FCA authorised firms under FSMA, who will need to execute changes to obey all components of SMCR is time scale. The larger organisations who will undergo the enhanced regime must not miscalculate the time and energy necessitated to […]

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).

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

In March 2018, the FCA released its consultation paper (CP18/6) on its proposed approach to the execution of the European Banking Authority’s (EBAs) final guidelines on security precautions 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.  Altogether, the documents do not […]

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 […]