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

Aragon Loans
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’. 
17 April 2019, 10:18am

FCA sets out its priorities for 2019/20
The Financial Conduct Authority (FCA) has today published its Business Plan for 2019/20, which outlines the key priorities for the coming year.
17 April 2019, 7:00am

Loans4Unemployed
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.
15 April 2019, 4:47pm

4XFX
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.
15 April 2019, 11:01am

PV Merger 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.
15 April 2019, 9:31am

Thomas Markgraf
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.
12 April 2019, 4:34pm

Lukas Prib
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.
11 April 2019, 5:23pm

Cryptoexp a trading style of O. M. G. Markets Limited
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.
11 April 2019, 5:11pm

Capitalxp a trading style of Quattro Holding Group Limited
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.
11 April 2019, 5:10pm

Update on Brexit delay
It has been confirmed the UK will not leave the EU on 12 April. The FCA will not implement its preparations for Brexit this weekend.
11 April 2019, 1:00pm

Tasbir Singh
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.
10 April 2019, 10:55am

Upper Tribunal publishes decision on Linear Investments Limited in relation to penalty imposed by FCA
The Upper Tribunal has published its decision on the reference made by Linear Investments Limited (Linear) in relation to the penalty imposed by the Financial Conduct Authority (FCA).
10 April 2019, 9:38am

Elcourt Ltd trading as AD Baxton
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.
10 April 2019, 8:52am

Insurance firms failing to consider value of the products and services provided to consumers
The Financial Conduct Authority (FCA) is warning General Insurance (GI) firms about manufacturing, sales and distribution approaches that can lead to customers purchasing inappropriate products, paying excessive prices or receiving poor service.
10 April 2019, 7:03am

FCA fines Standard Chartered Bank £102.2 million for poor AML controls
The Financial Conduct Authority (FCA) has fined Standard Chartered Bank (Standard Chartered) £102,163,200 for Anti-Money Laundering (AML) breaches in two higher risk areas of its business. This is the second largest financial penalty for AML controls failings ever imposed by the FCA.
9 April 2019, 3:00pm

Property Option Investing
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.
8 April 2019, 4:59pm

Aria Hope / Hope Area
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.
8 April 2019, 2:31pm

UK Financial Conduct Authority and Australian Securities and Investments Commission agree to strengthen cooperation post-Brexit
The UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) today announced they have agreed two Memoranda of Understanding to ensure there is continuity once the UK leaves the European Union. The MoUs cover trade repositories and alternative investment funds (AIFs).
8 April 2019, 10:00am

FCA publishes instructions for accessing and downloading FCA FITRS files
We have built FCA FITRS (Financial Instruments Transparency System) to replace ESMA FITRS in the UK.
5 April 2019, 11:00am

Partly contested cases, the pipeline and AML investigations
Speech by Mark Steward, Director of Enforcement and Market Oversight at the FCA, delivered at the Global Investigations Review Live event in London.
4 April 2019, 11:54am

Norton Rose Fulbright

Financial services: Regulation tomorrow

Compliance corner – PRA Business Plan 2019/20
On 15 April 2019, the PRA published its latest Business Plan setting out its strategy, workplan and budget for 2019/20. The PRA’s strategy for 2019/20 will be delivered through its strategic goals. Such goals include: ensuring that firms are adequately capitalised, and have sufficient liquidity, for the risks they are running or planning to take;...… Continue Reading
17 April 2019, 1:19pm

Compliance Corner – FCA publishes its latest Business Plan
On 17 April 2019, the FCA published its latest Business Plan containing some key themes, and also some interesting hints at particular lines of enquiry it may focus on. In terms of key areas of priority, the Business Plan notes the following cross sector priorities: culture and governance. This includes the extension of the Senior...… Continue Reading
17 April 2019, 1:16pm

Primary Market Bulletin No.23
On 16 April 2019, the FCA published Primary Market Bulletin No.23. In this Bulletin the FCA finalises its guidance on periodic financial information and inside information, after consulting on updating Technical Note UKLA/TN/506.1 in Primary Market Bulletin No. 19. The FCA also outlines its findings and sets out its expectations on some of the issues...… Continue Reading
17 April 2019, 1:07pm

Mark Steward indicates it may be time for criminal prosecutions under the Money Laundering Regulations
In a recent speech, FCA Director of Enforcement and Market Oversight Mark Steward again made clear that the FCA is prepared to use its power to bring criminal proceedings for breaches of anti-money laundering (AML) obligations set out under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs...… Continue Reading
17 April 2019, 10:11am

UK Supreme Court clarifies issues on parent company liability in Lungowe v Vedanta
Summary This landmark judgment from the UK Supreme Court means that the claim brought by 1,826 Zambian villagers against UK-based Vedanta and its Zambian subsidiary KCM can proceed to a trial of the substantive issues in the English courts. One of the issues that now falls to be examined is the controversial question of whether...… Continue Reading
16 April 2019, 3:29pm

Fees regime for FMI supervision 2019/20 and other related policy changes
On 15 April 2019, the Bank of England (BoE) published a Consultation Paper setting out the expected financial market infrastructure (FMI) fee rates for 2019/20. The proposed fees for 2019/20 are expected to total £8.5 million. This is a 4% increase on the 2018/19 budget which has been primarily caused by an increased focus on...… Continue Reading
16 April 2019, 1:54pm

Fees regime for the recognition of non-UK CCPs
On 15 April 2019, the Bank of England (BoE) published a Policy Statement on the fees regime for non-UK central counterparty (CCP) recognition. The Policy Statement follows the BoE’s consultation last October (our blog is here). The European Securities and Markets Authority’s functions relating to the recognition of third country CCPs under the European Markets...… Continue Reading
16 April 2019, 1:52pm

FCA consults on extending the remit of Independent Governance Committees
On 15 April 2019, the FCA published Consultation Paper 19/15: Independent Governance Committees: extension of remit (CP19/15). Independent Governance Committees (IGCs) provide independent oversight of the value for money of workplace personal pensions provided by firms such as some self-invested personal pension operators. In CP19/15 the FCA is proposing a new IGC duty to oversee:...… Continue Reading
16 April 2019, 1:50pm

Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change
On 15 April 2019, the PRA published Policy Statement 11/19: Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (PS11/19). PS11/19 is relevant to all UK insurance and reinsurance firms and groups, banks, building societies, and PRA-designated investment firms (collectively referred to as firms). In PS11/19 the PRA provides feedback to...… Continue Reading
16 April 2019, 1:48pm

Regulated fees and levies: rates for 2019/20
On 15 April 2019, the PRA published Consultation Paper 9/19: Regulated fees and levies: rates proposals 2019/20 (CP9/19). In CP9/19 the PRA sets out proposals for its fees and levies for 2019/20.  The proposals would make amendments to the Fees Part of the PRA Rulebook, and Supervisory Statement 3/16: Fees: PRA approach and application. The...… Continue Reading
16 April 2019, 1:46pm