Industry News

Risk Management Industry News for FCA Regulated Businesses

Insurance Companies Receive Warning from FCA

In April 2017, the FCA introduced rules that outlined firms must clearly show the insurance premium a customer paid last year alongside its renewal premium.

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SMR Extends its Reach - Risk Managers Take Note

The Financial Conduct Authority is to extend the reach of its Senior Managers Regime, affecting some 47,000 additional financial services firms and 200,000 individuals. For those risk managers currently not subject to the regime, there is potentially...

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Fraud Finds Its Way Into Fintech

A key Fintech event - the Innovate Global Finance Summit, has recently taken place with record crowds attending, putting London firmly centre stage as a Fintech hub. The UK, with its reputation for start-ups with global potential, has much to be proud...

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Why Risk Managers Need A Handle on Twitter

There are a number of problems with Twitter. It’s blamed for spreading fake news, it tends to be the weapon of choice for those looking to make abusive comments online and now, there is potentially even more scope for damage, with the character count...

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One Call Caught Offside by FCA Rulebook

A “genuine procedural error” has cost Doncaster-based broker, One Call Insurance Services, and its chief executive John Radford, dear. The Financial Conduct Authority has dealt out a provisional £684,000 fine and a temporary ban of 121 days on...

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Bonuses in Financial Services – Risky Rewards?

For once, it’s not bankers who are in the firing line when it comes to eye-watering bonuses. Recently, Jeff Fairburn, the chief executive of house builder Persimmon was given a bonus of £110 million. Critics, however, have said the sum was excessive...

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Watch Out For The Risks in WhatsApp

Messaging app WhatsApp has over a billion global users sending around 55 billion messages daily. It’s free, easy to use and has no advertising, so no wonder it’s so popular. Clearly, Facebook also saw the potential, paying $19 billion for the business...

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Topics: GDPR

Consumer awareness of GDPR presents huge financial risk

The clock is ticking and there are less than 90 days before the General Data Protection Regulation comes into force on 25 May. For risk managers, there is absolutely no time to waste.

Many in-house risk professionals working within financial services...

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Topics: Company Culture

Fear – why eliminating it from work will reduce risk

A fear-based culture can exist in the public and private sectors and affect both large and small enterprises. For those who have experienced it in the past, there may be memories of dreading going into the office, of a particularly bullying manager...

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