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: 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: 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: Claims Management, FCA

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: FCA, Financial Crime, whistleblowing

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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