Regulatory Updates

FCA publishes insights and writes to certain firms about anti-money laundering failings

11 Mar 2024 - In The News

The FCA has written a Dear CEO letter to certain firms (‘Annex 1 firms’ – which are firms carrying on the activities noted on page 88 of 99 in this document), which are subject to the Money Laundering Regulations (the MLRs). The Dear CEO letter relates to…

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FCA publishes web page in relation to the Treasury Committee’s ‘Sexism in the City’ report

11 Mar 2024 - In The News

The FCA has published a web page effectively linking the House of Commons Treasury Committee’s ‘Sexism in the City’ report to its Consultation aimed at boosting diversity and inclusion in financial services. The page, not published alongside any other…

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FCA publishes resource and a Consultation about its approach to enforcement

4 Mar 2024 - In The News

The FCA wants to change how it publicises its enforcement investigations to increase the transparency of its enforcement work and its deterrent effect, and to disseminate best practice. Following a review, it also wants to change its Enforcement Guide to…

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Diversity and Inclusion in the Financial Sector – what is the FCA expecting of ‘small firms’?

4 Mar 2024 - Hot TopICS

A lack of diversity in financial services was highlighted as a factor in the 2008 financial crisis. Looking at risk management outcomes, studies that compared the outcomes between diverse and non-diverse Boards following the crisis found that businesses with…

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FCA publishes a new ‘Preparing your firm’s wind-down plan’ web page

4 Mar 2024 - In The News

The FCA has published a new page on its website providing guidance about preparing your firm’s wind-down plan. Wind-down plans help firms exit the market in an orderly manner if their business is no longer viable. The web page makes reference to the Wind…

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Information Commissioner’s Office publishes detailed new guidance on the use of people’s biometric data

26 Feb 2024 - In The News

Against the backdrop of issuing nine separate enforcement notices in relation to the monitoring of employees by using their biometric data, the Information Commissioner’s Office (ICO) has published a significant new section on its website outlining detailed…

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