Tag: FCA
Equifax handed £11m fine over major cyber-security breach
The FCA has issued a hefty fine of £11m to Equifax as a consequence of their involvement in one of history's most significant cyber-security breaches.
Moody’s Analytics Shares Key Steps for Enhanced PEPs Screening
In September 2023, the Financial Conduct Authority (FCA) provided fresh guidance about how to treat Politically Exposed Persons (PEPs). In response to this, businesses under regulation might find it beneficial to revisit their existing PEPs screening systems. This not only ensures alignment with the new directive but also makes certain that the screening process remains both effective and efficient.
Mastering transaction reporting: Reducing risks and achieving compliance
Firms facing transaction reporting obligations often find themselves navigating multiple regulatory regimes such as MiFID II, EMIR, Dodd Frank, and ASIC. Despite awareness of their duties, many aren't doing enough to meet the stringent regulatory standards.
FCA proposes ‘new enlightenment’ for financial inclusion amidst cost-of-living crisis
In a bid to alleviate the strain of the ongoing cost of living crisis, the FCA is vowing to usher in an era of “new enlightenment” for financial inclusion.
FCA outlines ambitious plans to elevate diversity in financial sector
The Financial Conduct Authority (FCA) is taking substantial steps to enhance diversity within the financial services sector.
The importance of eComms recordkeeping in FinTech
In the past few months, both the SEC and CFTC have targeted numerous Wall Street firms for extensive recordkeeping oversights. This resulted in eye-watering penalties surpassing $1.5bn. Both major and minor firms should anticipate that this assertive enforcement will remain unrelenting.
FCA outlines path for new sustainability disclosure standards by 2026
The FCA has revealed its timeline for integrating the ISSB's first two standards into the UK's sustainability disclosure regulations for public entities.
eflow Global’s solutions to FCA’s Market Watch 74 transaction reporting concerns
RegTech firm eFlow Global recently took the opportunity to describe how it can provide solutions to key transaction reporting concerns.
Managing insider information: The crucial role of MAR in the digital...
The European Market Abuse Regulations (MAR) have been at the forefront of the financial regulatory landscape since July 2016. Despite its six-year presence, compliance with MAR regulations remains a consistent priority for regulators across Europe, including the UK. Regulatory enforcement continues to unveil that firms still grapple with adherence to rules governing the management of material nonpublic information (MNPI).
FCA unveils new Consumer Duty plan to boost savings interest rates
The UK FCA has announced its first actions under the new Consumer Duty rules, outlining a 14-point plan aimed at enhancing cash savings interest rates.