Industry News

Risk Management Industry News for FCA Regulated Businesses

Topics: FCA, Financial Crime, Cyber security

Financial crimes of the future: can the regulators keep up?

Tackling financial crime can be an uphill battle, with criminals often employing new tactics and strategies in order to move the goalposts for regulators.

Attempting to stay one step ahead is therefore essential, with some understanding into the...

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Topics: FCA, Cyber security, Regulation update

Can the FCA take control of cryptoassets?

The FCA is becoming increasingly hands-on when it comes to cryptoasset regulation and one thing is clear, new rules are coming. Risk managers can expect a key update this summer when the regulator will report back on its consultation, which closed on...

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Topics: Financial Services

Financial Ombudsman Service gains new powers

The Financial Ombudsman Service (FOS) can now hit firms with orders to pay higher levels of compensation and is also now accepting complaints from a wider group of SMEs. This should act as a stark warning – if customers are unhappy, then their...

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Topics: FCA, Third Party Risk

Time to put third party risk management first?

Third party vendor risk can result in potentially hugely damaging incidents, but many businesses tend to focus on protecting their in-house systems and processes and can be less concerned about those they hand over to others, who may well be perceived...

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Topics: FCA, Company Culture, UK Senior Managers Regime

FCA stresses diversity as answer to culture shift

It could be argued that firms should be free to make their own choices when it comes to who they recruit and the type of culture they build. Yet in financial services, the regulator is taking a stand and stating clearly that diversity matters. For...

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Topics: FCA, Insurance, Compliance

FCA swings regulatory spotlight onto insurer claims performance

The term ‘value measures data’ will already be familiar to a number of risk managers andcompliance professionals within general insurance – however regulations are changing, with the FCA planning to introduce new reporting requirements on claims...

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Topics: Risk Management, Company Culture

CSR and risk management – a natural alignment

As a risk manager are you fully up to date with your company’s corporate social responsibility activities? If not, then current thinking suggests you should be.

Promoting CSR strategies in the context of effective risk management will be a priority...

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Topics: Data Protection, Data Security, Cyber crime

Cryptocurrency moves under the regulatory spotlight

From a regulatory perspective, the cryptocurrency sector, known as the wild west of finance, is poised to be tamed with many operating within the sector strongly in favour of more compliance as they seek to kick-start the market again.

Investors have...

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Topics: Data Protection, GDPR, Cyber crime

GDPR may lead to payment of more cyber ransoms

Whilst many believe prevention of security breaches provide the best course of action there are still no guarantees that organisations aren't still vulnerable to  ransomware attacks even if they do have a high level of security. 

The arrival of...

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