In the sixth podcast in our DE&I series, Jonathan Herbst, Katie Stephen, Rebecca Dulieu and Simon Lovegrove discuss non-financial misconduct including previous FCA enforcement action, the FCA’s proposals in CP23/20 and the practical steps that firms can take in this area. The podcast is the first in a planned mini-series that will focus on this
Whistleblowing data highlights the FCA’s focus on culture and fitness and propriety
- In Q1 2024 (January to March): the FCA received 298 new whistleblowing reports, containing 801 allegations
New briefing note – Asserting Control Over AI: Essential Governance Considerations
Whilst regulators and the UK government debate how best to regulate artificial intelligence (AI) to ensure that it delivers the best outcomes for consumers and markets, firms and their senior managers are already having to grapple with the governance and control frameworks required internally to enable them to be able to evidence to
New briefing note – Inside the FCA: Insights from ex-regulators
A number of the members of our Financial Services team in London have experience of working at the Financial Conduct Authority and in our latest briefing note, they discuss the insights that their different experiences at the regulator have provided and how we translate that to advising clients across the full spectrum of financial services
New briefing note – PRA enforcement changes: what you need to know
On 30 January 2024, the Bank of England (the Bank) and Prudential Regulation Authority (PRA) published Policy Statement PS1/24 which sets out a revised approach to enforcement for both PRA firms and financial market infrastructure firms. It followed Consultation Paper CP9/23 published in May 2023. There is now a new consolidated Bank
FCA makes formal request for non-financial misconduct data from Lloyd’s and London market firms
On 7 February 2024 the FCA published a letter to all regulated Lloyd’s managing agents, London market insurers and Lloyd’s and London market brokers and MGAs (dated 6 February 2024), requesting information relating to incidents of non-financial misconduct. Culture and non-financial misconduct clearly remain focus areas for the FCA.
Key points to note from the
New Regulation Tomorrow Plus podcast: Submitting better SARs – A guide for MLROs and in-house teams
In our latest Regulation Tomorrow podcast, Senior Knowledge Lawyer Catherine Pluck is joined by Senior Associate Rebecca Dulieu and Associate Lizzie Cox, both of whom specialise in regulatory investigations and enforcement, to discuss reporting obligations under the Proceeds of Crime Act 2002 (POCA), in particular how to draft and submit good quality
New briefing note: Navigating a skilled person review (also known as a section 166 review)
The response to, and the management of, a skilled person review can be challenging, costly and time consuming for firms. In our latest briefing note we set out some key points for firms to consider when dealing with a skilled person review requirement imposed by the FCA or PRA, from the initial stages of negotiating