Today (just to note TR19/4 was published on 4/6), the Financial Conduct Authority (FCA) published its latest thematic review, TR19/4, which looks at money laundering (ML) risks in capital markets. The FCA visited 19 market sector operators, including investment banks, recognised investment exchanges, clearing and settlement houses, trade bodies, inter-dealer brokers, trading firms and
Financial crime outlook – key themes for 2019
An increasingly globalised business environment, coupled with a growth in technology, continues to increase the risk of financial crime for all institutions.
With this in mind, our Regulatory Compliance Consulting team have identified what they see as the key financial crime threats and issues that should be of focus for Heads of Financial Crime, Money
5 things we still get wrong when onboarding clients
Our financial crime video series sees our Regulatory Compliance Consulting team explore some of the key threats and issues facing the industry.
In the latest video, Christian Blackwell and Tunde Fasoyiro discuss the 5 biggest mistakes that firms are still making when dealing with their KYC onboarding. Watch the video here.
Videos are published on
Governance and conduct video series: 5 measures of effective conduct
Our governance and conduct video series sees our Regulatory Compliance Consulting team explore some of the key areas firms must consider to ensure effective and efficient governance and control frameworks.
In the latest video, Christian Blackwell and Tunde Fasoyiro discuss the ways that firms can measure effective conduct. You can watch the video here.
We
FCA consultations on approach to consumers, competition and authorisation
When the FCA published its Mission 2017 it committed itself to being more open and transparent about how it regulates and why it makes the decisions in the manner that it does. As part of this the FCA committed itself to publishing a range of documents that explain its approach to regulation in more depth.
FCA reports on review of compliance function in wholesale banks
In January 2017, the FCA sent a questionnaire to 22 wholesale banks asking information about their compliance function. The exercise was designed to give the FCA greater insight into the changes in the function over the past few years and where further challenges remain. The questionnaire contained 27 questions about the compliance function covering the
FCA guide to completing applications to cancel firm’s authorisation
The FCA has published a guide to completing the application process to cancel a firm’s authorisation under Part 4A of the Financial Services and Markets Act 2000. The guide is designed to assist firms to complete an application to cancel all permissions and cease regulatory activity. The FCA states that the guide is not a
New MLR individual form
The FCA has published the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017: MLR individual form together with explanatory notes.
The FCA has also updated its money laundering registration webpage for those firms that need to register with it as an ‘Annex I financial institution’ under the Money Laundering,