Tag: FCA

The final deadline for compliance with the UK Financial Conduct Authority's (FCA) new Consumer Duty is swiftly approaching in July 2023. The regulatory agency has been actively providing guidance, conducting multi-firm reviews, and sharing specific industry insights in the form of Dear CEO Letters to ensure that firms are adequately prepared for the implementation.

The European Market Abuse Regulations (MAR) have been at the forefront of the financial regulatory landscape since July 2016. Despite its six-year presence, compliance with MAR regulations remains a consistent priority for regulators across Europe, including the UK. Regulatory enforcement continues to unveil that firms still grapple with adherence to rules governing the management of material nonpublic information (MNPI).

The FCA has unveiled actions under the Consumer Duty rules, outlining a 14-point plan aimed at enhancing cash savings interest rates.

Compliance within the financial services industry has taken a new turn as online trading and the emergence of 'finfluencers' on social media platforms have magnified the risks of market manipulation. The shift in the landscape demands greater attention to the prevention, detection, and mitigation of market abuse.

The UK government is considering backtracking on plans to impose stricter regulations on the burgeoning BNPL industry.

In a recent post, RegTech firm Eventus outlined key reasons why practitioners must be the key drivers behind trade compliance. 

Nikhil Rathi, the FCA chief, has issued a warning to banks concerning the risks associated with AI and the menace of 'deep fake' fraud.

While the RegTech sector is fairly young compared to some of its counterparts, the industry is brimming with energy and innovation.

The FCA has addressed concerns over market integrity in the SLL market, warning about potential greenwashing practices.

The Financial Conduct Authority (FCA) has recently demonstrated their commitment to holding reluctant firms accountable in a speech titled 'Doing the right thing'.