The FCA increases its scrutiny of newly-authorised firms

In April this year, the CEO of the Financial Conduct Authority, Nikhil Rathi gave a speech as part of UK...

Regulatory Update: UK Edition - October 2021

This edition includes - FCA sets out expectations on remote or hybrid working for firms, PRA Climate Change Adaptation Report 2021, EBA publishes draft regulatory technical standards on Disclosure of Investment Policy, maximum sentence for insider dealing offences increased and FCA fines Credit Suisse for financial crime failings.

Regulatory Update: Middle East Edition - October 2021

This edition includes - DFSA introduces regulatory framework for investment tokens, ADGM Office of Data Protection joins Global Privacy Assembly, regional bodies participate in World Investor Week 2021, Pandora Papers investigative project and UAE fines six exchange houses for violating AML/TF laws.

Regulatory Update: UK Edition - September 2021

This edition includes - FCA publishes draft guidance to allow faster removal of regulatory permissions, PRA consultation paper on identification of material risk takers, ESMA consults on proposal for a review of the MiFID II Best Execution Reporting Regime, JMLSG publishes new guidance and Richard Faithfull sentenced to over five years imprisonment for money laundering.

Regulatory Update: Middle East Edition - September 2021

This edition includes - DIFC hosts Blockchain Week, ADGM Arbitration Centre and Permanent Court of Arbitration sign a Cooperation Agreement, CBUAE to host the Future of Finance Conference and Basel Committee publishes newsletter on cyber threats.

Regulatory Update: UK Edition - August 2021

This edition includes - FCA consultation paper on new UK Prudential Regime for MiFID investment firms, ESMA Q&As, SFO charges persons with bribery and money laundering and Office of Financial Sanctions Implementation issues penalty on TransferGo Limited.

Regulatory Update: UK Edition - July 2021

This edition includes – FCA agreements with overseas regulators, PRA proposal to make changes to policy on designated investment firms, ESMA consults on remuneration requirements on MiFID II, Wolfsberg Group statement on demonstrating effectiveness in AML, and FCA fines LBGI £90 million for failures in communications.

Regulatory Update: Middle East Edition - June 2021

This edition includes – DIFC and DFSA latest developments including DIFC Holds first meeting of its Higher Board of Directors in 2021 and DFSA Opens Innovation Testing License Cohort. ADGM and FSRA latest developments and Middle East Regulatory Updates and International Updates.

Regulatory Update: UK Edition - June 2021

This edition includes – FCA Updates & Developments including FCA Updates Authorisation Webpage for Change of Legal Status, PRA Statement on Firm Authorisation under the TPR, EBA Assesses Benefits, Challenges and Risks of RegTech. Also included in this edition is Financial Crime and Enforcement Actions.

The impact of the IFPR on Exempt CAD Firms

The IFPR (Investment Firm Prudential Regime) is due to be implemented on 1st January 2022, and there are reasons to think that it is going to be Exempt CAD firms that will be most affected from a prudential and regulatory point of view.

Waystone Creates Global Compliance Offering

Waystone, the leading, global governance and third-party management company has today announced the creation of a new global compliance offering via the merging of four compliance service providers.

Regulatory Update: Middle East Edition - May 2021

This edition includes - Launch of DIFC FinTech Accelerator 2021, FSRA Issues a Dear SEO/MLRO/RP Letter regarding CTF and CBB Announce Digital Currency Settlement Collaboration.