Industry News

Risk Management Industry News for FCA Regulated Businesses

Topics: FCA, Cyber security

FCA warns ‘no end in sight’ to cyber threat risk

In the year to October, the FCA has revealed a 138% increase in reported technology outages, with 18% of these being cyber-related. The regulator called the rises ‘significant’ and is urging financial services firms to do more to reduce risk.

Speaking...

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Topics: FCA, Claims Management

Claims management – FCA new rules loom

The clock is ticking for claims management companies, with the Financial Conduct Authority poised to take over regulation of the sector – around 1,700 firms - on 1 April 2019. A new regime is coming and it promises to be rigorous.

The claims...

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Topics: whistleblowing, FCA, Financial Crime

Whistleblowers’ rights move to centre stage

Risk managers should be prepared for potential new laws that may be enacted to ensure whistleblowers are subject to fair treatment, anonymity and possibly financial reward.

This follows concerns that those blowing the whistle can face extreme...

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Topics: FCA, AML

FCA steps up AML requirements for risk managers

The UK is poised to become an even less welcoming place for those intent on money laundering and one of the FCA’s avowed top priorities is stopping any illicit flows of cash.

So the regulator is focused on visits, following up on tip-offs and has...

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Topics: FCA

FCA Rules - A New Age Of Prohibition?

Recently, ex-trader Tom Hayes appeared in court via video-link from Lowdham Grange jail, where he is incarcerated for rigging LIBOR. His aim is to overturn a lifetime ban from working in financial services. This was imposed by the FCA and known as a...

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Topics: FCA

FCA News: Big Changes to Senior Managers Regime

Personal responsibility is at the heart of the Senior Managers and Certification Regime – and along with the new rules, this is something risk managers will now need to start taking seriously.

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Topics: FCA, Future for risk management, customer complaints

FCA Complaints Handling Rules Should Be On Risk Managers’ Radar

Complaints handling is a tough nut to crack. It can be a complex, time consuming and frustrating process to put matters right - or indeed decide after due consideration that a complainant is not justified. 

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Topics: FCA, Risk Manager, whistleblowing

Whistleblowing Policy – Why Risk Managers Should Tread Carefully

No matter how senior someone is, they should respect the right of anyone in their organisation to act as a whistleblower. If not, then the repercussions can be serious.

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Topics: FCA, Risk Manager, data sharing

Call for Data Sharing Brings Rewards and Risks

A breath of fresh air is blowing through the closeted world of banking – and the force behind this is greater data sharing. So what could it mean for customers and for risk managers, does releasing more information mean less control?

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