Approximately one year on from our briefing in June 2024 which considered some of the steps firms could be taking to meet future regulatory expectations in relation to governance of AI, in this briefing we outline some of the significant steps taken by the FCA over the past twelve months or so, in shaping the
FCA supervision in action: Lessons learned for conducting internal investigations and auditor/ regulator communications
- FCA Supervisory Powers: The
New briefing note: Spotlight on Solicitors Regulation Authority (SRA) Guidance – Part one, reporting misconduct and conducting internal investigations
Our latest briefing forms part of a new series looking in detail at the SRA’s guidance for in-house teams, issued following a thematic review of the sector, recognising the growth and importance of the in-house role and the unique pressures to which in-house solicitors can be subject. The guidance covers six topics and does not
Auditing FCA/PRA regulated firms: Auditors’ reporting obligations – Quick Reference Guide
Recent regulatory activity and enforcement outcomes have highlighted the obligations on auditors to make reports to regulators in certain circumstances. Given the web of relevant provisions, the number of bodies potentially requiring notification, the client confidentiality overlay and the pressures to which busy professionals are subject, keeping track of who should say what to whom
Name and Shame Round Two: FCA publishes consultation on redrafted proposals
On 28 November 2024 the FCA published CP24/2, Part 2 in relation to its controversial ‘name and shame’ proposals, having trailed this in oral evidence before the House of Lords Financial Services Regulation Committee earlier this month. In the paper, the CP24/2 proposals have been re-drafted with a view to addressing the concerns raised about
Let’s talk asset management: Episode 10 – UK FCA’s recent work on non-financial misconduct
In this latest episode of our podcast series, Let’s talk asset management, Hannah Meakin, Lucy Dodson, Rebecca Dulieu and Simon Lovegrove discuss the UK Financial Conduct Authority’s recent work on non-financial misconduct and its impact on the UK asset management sector.
Listen to the podcast here.
New Navigating Communications podcast – Promotional messages on social media platforms
In our latest podcast, our global Financial Services team discusses promotional messages on social media platforms, covering recent regulatory and enforcement developments in the UK, US and Dubai, as well as practical steps that global firms can be taking now in this area to manage their risk.
Listen to the episode here.
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Keep an eye on your surveillance systems and change may be on the way
In March the UK Financial Conduct Authority (FCA) published its business plan for 2024/25. When discussing market oversight, in keeping with its recent drive to become more data-driven, the regulator stated that it intends to carry out increased market monitoring of fixed income and commodities markets and is increasing its ability to detect
The results of the FCA’s Culture and non-financial misconduct survey have been published: What do you need to know?
- Most frequent concerns: the number of
Regulators reinforce importance of IT, systems and operational resilience: Key considerations for firms
Recent FCA outcomes and a speech by the ECB earlier this month are stark reminders that financial resilience alone is not a sufficient safeguard to operate in today’s increasingly complex risk environment – firms must have robust, resilient operational systems in place, as well. (See our comments on the ECB speech).
From an enforcement