All FCA articles – Page 3
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ArticleFCA regulation now in effect for claims management companies
The U.K. Financial Conduct Authority has issued a reminder for the claims management industry: As of 1 April, all claims management companies in England, Scotland, and Wales will have to demonstrate that they meet and maintain minimum standards set by the FCA.
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Article
FCA fines Goldman Sachs £34.3M for transaction reporting failures
Compliance officers in the financial services industry can learn a lot from the failings of Goldman Sachs, which was fined £34.3 million (U.S. $45 million) by the U.K. Financial Conduct Authority for failing to provide accurate and timely reporting relating to 220 million transaction reports over a period of a ...
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Article
SEC, U.K. strike post-Brexit cooperation deals
The SEC and the United Kingdom’s Financial Conduct Authority have reaffirmed their commitment to cooperation and information sharing, even after the latter withdraws from the European Union.
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Article
FCA fines UBS £27.6M for transaction reporting failures
The U.K. Financial Conduct Authority has fined UBS £27.6 million (U.S. $36.6 million) for failings relating to 135.8 million transaction reports.
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Blog post
FCA seeks to mitigate Brexit-related risk
The U.K. Financial Conduct Authority is on a mission to thwart as many “cliff-edge” risks as possible during the Brexit transition.
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Article
FCA strives for smooth regulatory transition in event of no-deal Brexit
The U.K. Financial Conduct Authority has published two consultation papers to help companies prep for regulation in the event of a no-deal Brexit.
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Article
U.K. regulator setting global example in facilitating technology growth
FCA-backed sandboxes set up for testing in a live environment have put British RegTech and FinTech ahead of the curve.
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Blog post
What changed? FRC brings action in Autonomy scandal
The Financial Reporting Council has brought long-awaited charges against Autonomy executives for their role in the massive accounting fraud uncovered when Hewlett-Packard attempted to purchase the software firm in 2011.
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Article
Barclays’ CEO fined, but retained, as bank faces more scrutiny
Barclays CEO Jes Staley has been hit with hefty fines and penalties from U.K. regulators, but the bank is standing behind its man—will it pay the price for that decision?
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Article
Commission proposes law to beef up EU whistleblower protection
In light of recent high-profile scandals at such big wigs as Volkswagen, the European Union is proposing new laws to strengthen whistleblower protection for reporting both internally and to public authorities.
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Article
U.K. co-op compliance failures raise regulatory questions
A series of compliance setbacks at prominent U.K. co-ops have brought increased scrutiny to both the co-ops … and their regulators.
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Article
Negative feedback has impact on FCA Financial Services Register plans
The FCA has abandoned Financial Services Register plans that would have placed the responsibility for certifying the suitability of key people other than “senior managers” onto the firms.
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Article
FCA calls for technology for ‘smarter’ regulatory reporting
In a bid to cut down on firms’ “burdensome” reporting woes while easing its own workload to review such reporting, the Financial Conduct Authority is seeking input on how technology could make regulatory reporting simpler and more consistent.
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Article
Report: Royal Bank of Scotland abused small businesses during financial crisis
The U.K. Financial Conduct Authority has released a report detailing how RBS mistreated distressed small businesses over a six-year period starting in 2009.
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Blog post
CFTC and UK’s FCA agree to collaborate on FinTech innovations
The U.S. Commodity Futures Trading Commission and the UK’s Financial Conduct Authority (FCA) have agreed to collaborate on international FinTech efforts.
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Article
The Escobar decision, one year later
A year after the Supreme Court more closely defined materiality and implied consent in False Claims Act cases, compliance officers still have more questions than answers.
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Blog post
FRC announces investigations into KPMG and PwC
The U.K. Financial Reporting Council, an independent investigative body that monitors and enforces accounting standards, is looking into audits made of financial services companies in the days preceding the global financial crisis of 2008-2009, starting with a delve into the work of two key accountancy firms—KPMG and PwC. Paul Hodgson ...
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Blog post
FCA advises on new EU Market Abuse Regulation
The Financial Conduct Authority has published changes to its handbook, “Disclosure Guidance and Transparency Rules,” to help U.K.-listed companies comply with new EU Market Abuse Regulation (MAR) from 3 July this year. The handbook and MAR cover a very wide range of “market abuse” issues, such as insider dealing, improper ...
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Blog post
FCA must not drop the ball on banking culture reforms
The U.K. Parliament’s Public Accounts Committee has issued a report that is not only deeply critical of the FCA’s decision to suspend its culture review of banks but also warns of “serious risks” of future mis-selling scandals. Paul Hodgson examines the report’s impact on U.K. bank culture.
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Article
Year in Review: Regulatory Enforcement in Europe
Image: For compliance officers in Europe, 2015 has been a big year. Aside from focusing on reporting wrongdoing and promoting a speak-up culture, watchdogs have been keeping compliance practitioners busy with a barrage of regulations that show no sign of easing. As compliance officers wonder to what degree the past ...
