LATEST NEWS

This following lists some of the latest announcements and articles relating to compliance within the financial services sector. It is built from many RSS feeds and is updated daily. The page can get quite large so if you are looking for a particular topic we suggest you use your browser's find bar.

Financial Conduct Authority

The view from the regulator on Operational Resilience
Speech by Megan Butler, Executive Director of Supervision: Investment, Wholesale and Specialist, delivered at TISA’s Operational Resilience Forum, London.
5 December 2019, 1:35pm

Bond Stop
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
5 December 2019, 1:18pm

Bond Search
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
5 December 2019, 12:44pm

Asset Backed Investment
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
5 December 2019, 12:37pm

AEC Investments/ AEC Investments Group
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
5 December 2019, 12:33pm

MONSAS (Clone of FCA authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
5 December 2019, 10:48am

Building operational resilience: impact tolerances for important business services
The Bank of England (the Bank), Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have today published a shared policy summary and co-ordinated consultation papers (CPs) on new requirements to strengthen operational resilience in the financial services sector.
5 December 2019, 10:37am

FCA meets firms to discuss feedback on Gabriel and improvements to new data collection platform
Following the Gabriel user survey we launched in July 2019, we met with survey respondents who expressed interest in engaging with us on the new system. Firms across the UK participated in our roundtable events in London, Manchester, and Edinburgh to discuss their feedback on Gabriel - our current data collection system - which will be replaced by a new reporting platform.
5 December 2019, 10:30am

Monarch Loans (Clone of FCA authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
5 December 2019, 10:03am

Stone Lion Financial Limited (clone of authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
4 December 2019, 2:27pm

OneStopBondShop
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
4 December 2019, 2:13pm

AEC Investments (clone of EEA authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
4 December 2019, 1:48pm

Vanguard Wealth
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
4 December 2019, 1:13pm

AG Private Wealth
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
4 December 2019, 12:47pm

Keytrade Bank (clone of authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
4 December 2019, 11:45am

Bond Compare
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
4 December 2019, 11:27am

ROFX
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
3 December 2019, 3:44pm

FXLinked (Clone of FCA authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
3 December 2019, 1:43pm

Credit Suisse International (Clone of FCA authorised firm)
Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out more about this ‘clone firm’. 
3 December 2019, 12:15pm

AL Asset Management
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
2 December 2019, 4:14pm

Norton Rose Fulbright

Financial services: Regulation tomorrow

CMA announces final decision in review of Part 6 of Retail Banking Market Investigation Order 2017
On 4 December 2019, the Competition and Markets Authority (CMA) announced its final decision to vary the Retail Banking Market Investigation Order 2017 (the Order) and remove Part 6 of the Order relating to overdraft alerts. It has also published the Variation Order and Explanatory Note and a Notice of Variation. The CMA has concluded...… Continue Reading
5 December 2019, 4:40pm

ISDA responds to FSB letter on pre-cessation triggers for derivatives fallback
On 4 December 2019, the International Swaps and Derivatives Association (ISDA) published a letter to the co-chairs of the Financial Stability Board (FSB) Official Sector Steering Group (OSSG) in response to a November 2019 letter from the OSSG co-chairs (see previous blog here). In the letter, the ISDA reaffirms its commitment to implementing robust fallbacks...… Continue Reading
5 December 2019, 4:39pm

GFXC agrees priorities for updating the FX Global Code
On 4 December 2019, the Global Foreign Exchange Committee (GFXC) published a press release setting out its priorities for updating the FX Global Code (the Code). Following the first day of its two-day meeting held in Sydney on 4-5 December, the GFXC discussed the feedback received on the Code and agreed to focus its work...… Continue Reading
5 December 2019, 4:38pm

Council adopts position on proposed regulation on recovery and resolution of CCPs
On 4 December 2019, the Council of the EU published a press release announcing that the Council of the European Union (the Council) has adopted its position on the proposed regulation on recovery and resolution of central counterparties (CCPs) (the Regulation). The Council has also published the text of the negotiating mandate. While the press...… Continue Reading
5 December 2019, 4:35pm

EBA recommends removal of CVA exemptions in updated Basel III impact assessment
On 4 December 2019, the European Banking Authority (EBA) published the second part of its advice on the implementation of the final Basel III standard in the European Union, complementing its report published on 05 August 2019. The most recent EBA publication focuses on an assessment of the impact of the revisions to the credit...… Continue Reading
5 December 2019, 4:33pm

OJ – Commission Implementing Regulation amending ITS on mapping credit assessments of ECAIs under CRR
On 4 December 2019, there was published in the Official Journal of the EU (OJ), Commission Implementing Regulation (EU) 2019/2028 (the Amending Regulation) amending Commission Implementing Regulation (EU) 2016/1799 containing implementing technical standards (ITS) on the mapping of external credit assessment institutions’ (ECAIs) credit assessments under Articles 136(1) and (3) of the Capital Requirements (CRR)....… Continue Reading
5 December 2019, 4:31pm

ESMA final report on draft RTS amending Prospectus RTS Regulation
On 4 December 2019, European Securities and Markets Authority (ESMA) published its final report on the draft regulatory technical standard (RTS) amending the Prospectus RTS Regulation, which contains RTSs under the new Prospectus Regulation. The Prospectus RTS Regulation outlines the key financial information needed for the prospectus summary, the data for classification and publication of...… Continue Reading
5 December 2019, 4:30pm

ESMA updates Q&As on Prospectus Regulation
On 4 December 2019, the European Securities and Markets Authority (ESMA) published an updated version of its Q&As on the Prospectus Regulation. The updated Q&As insert a new question and answer (13.2) clarifying that it is not possible to include a pro-forma summaries in base prospectuses. The updated Q&As also insert a new question and...… Continue Reading
5 December 2019, 4:28pm

ESMA updates Q&As on Benchmarks Regulation
On 4 December 2019, the European Securities and Markets Authority (ESMA) published an updated version of its Q&As on the implementation of the Central Securities Depositories Regulation (CSDR). The updated Q&As revise the first question on settlement discipline relating to matching settlement instructions through the addition of two extra sub questions and answers. The new...… Continue Reading
5 December 2019, 4:27pm

ESMA updates Q&As on Benchmarks Regulation
On 4 December 2019, the European Securities and Markets Authority (ESMA) published an updated version of its Q&As on the Benchmarks Regulation (BMR). The updated Q&As amend question and answer 7.6 on whether the annual review of the International Organization of Securities principles for Oil Pricing Reporting Agencies is sufficient for the purpose of paragraph...… Continue Reading
5 December 2019, 4:25pm