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Financial Services - Regulatory & Risk

Blog

PRA fines bank for outsourcing failures

10 December 2015

Last week, the PRA announced that it had imposed a fine of over £1.2 million on R. Raphael & Sons plc.

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Blog

FCA frustrated by continuing shortcomings in wealth management sector but must accept subtleties of suitability

Published on 09 December 2015. By Robbie Constance, Partner

The FCA's thematic review report published today expresses concern about some wealth management firms who are still not getting suitability right despite five years of regulatory 'communications'.

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Blog

Delegation of regulated activities – warning from the FCA

Published on 03 December 2015. By Rachael Healey, Legal Director

Adviser firms delegating regulated activities to unregulated third parties have been removed from the FCA's Christmas card list following a notice issued this week.

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FCA has increasing appetite to use alternative enforcement penalties

03 December 2015

In a recent appearance before the Treasury Select Committee the FCA has hinted that it may make further use of its restriction and suspension powers as an alternative as well as an addition to the power to impose financial penalties.

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Blog

Small businesses; large losses?

Published on 01 December 2015. By Robert Morris, Partner

On Friday the FCA published a wide ranging discussion paper in which it seeks comments on proposed changes to the way in which it, and the FOS, deals with SME businesses.

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Blog

POPLA likely to be more popular after Supreme Court rejects parking ticket appeal

Published on 16 November 2015. By Robbie Constance, Partner

The Supreme Court decision in ParkingEye v Beavis has attracted much attention, not least because it was all about a £85 parking fine.

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Blog

Skilled persons focus on CASS and Conduct in small firms

12 November 2015

The FCA has published statistics on the skilled persons reports commissioned in Q2 2015/16.

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Blog

Privileged Information

Published on 12 November 2015. By Davina Given, Partner

As every lawyer knows, legal professional privilege is a tricky area and can be hotly contested.

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Blog

ICO upholds FCA decision not to disclose list of countries posing a high money laundering risk

11 November 2015

The Information Commissioner's Office (ICO) has recently published a decision notice in which the ICO has upheld the FCA's decision to refuse to disclose certain information under the Freedom of Information Act 2000 (FOIA) relating to countries which the FCA deems to present a high money laundering risk.

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Blog

Built on sand?

Published on 10 November 2015. By Robbie Constance, Partner

At the Treasury's request, the FCA has published plans for a 'regulatory sandbox' in which businesses can play with new, innovative products, services and business models without "all the normal regulatory consequences".

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