Financial regulators in the UK have been interested for some years in the question of how personal behaviour can affect the risk profile of a financial institution. A recent SEC case suggests that US regulators may now be...more
2/14/2024
/ Consultation ,
Corporate Crimes ,
Corporate Officers ,
Criminal Justice Reform ,
Criminal Liability ,
Diversity and Inclusion Standards (D&I) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Internal Controls ,
Proposed Legislation ,
Prudential Regulation Authority (PRA) ,
Respondeat Superior ,
Securities and Exchange Commission (SEC) ,
UK
Non-financial misconduct in financial services firms is back at the top of the agenda following the concurrent publication of the FCA’s Consultation Paper 20/23 (Diversity and inclusion in the financial sector – working...more
New High Court case considers nature and scope of the Quincecare duty -
In June, the Court of Appeal expanded the scope of a bank’s duty of care to protect its customers from fraud to encompass instructions by those other...more
6/21/2022
/ Bank of England ,
Banks ,
Civil Monetary Penalty ,
Climate Change ,
Criminal Liability ,
Duty of Care ,
Economic Sanctions ,
EU ,
European Commission ,
Financial Accounting ,
Fraud ,
Insurance Industry ,
Member State ,
Money Laundering ,
Office of Financial Sanctions Implementation (OFSI) ,
Payment Systems Regulator (PSR) ,
Prudential Regulation Authority (PRA) ,
Risk Factors ,
Russia ,
Third-Party Service Provider ,
UK ,
UK Regulatory Reforms
Recap of FINRA Rule 1017(a)(7) -
If you recall from our May 11th alert, effective September 1, 2021, FINRA Rule 1017(a)(7) will require a member firm to file a CMA when a natural person seeks to become an owner, control...more
8/31/2021
/ Applications ,
Bad Actors ,
Banking Regulators ,
Banking Sector ,
Banks ,
Broker-Dealer ,
Compliance ,
Continuation Applications ,
Criminal Records ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Members ,
New Regulations ,
Prudential Regulation Authority (PRA) ,
Registration Requirement
Yesterday’s joint Discussion Paper (DP21/2) published by the Bank of England, Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA, together “the regulators”) on “Diversity and inclusion in the financial...more
7/8/2021
/ Bank of England ,
Corporate Culture ,
Corporate Governance ,
CRD V ,
Discussion Draft ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Remuneration ,
Reporting Requirements ,
Senior Management Regime (SMR) ,
Senior Managers ,
UK
Click here for an infographic timeline summarising the FCA, PRA and PSR business plans for 2019/20, together with key EU and UK financial services developments. The Financial Conduct Authority published its business plan on...more
4/24/2019
/ Anti-Money Laundering ,
Corporate Culture ,
Corporate Governance ,
Cryptoassets ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Market Abuse ,
MiFID II ,
Open Banking ,
Payment Systems ,
Prudential Regulation Authority (PRA) ,
SMCR ,
UK ,
UK Brexit ,
Withdrawal
Insurers, reinsurers and managing agents (which we will refer to in this article as “insurers”) will be fully within the scope of the Senior Managers and Certification Regime (“SMCR”) regime from 10 December 2019, following a...more