On 22 June 2017, the Financial Conduct Authority (FCA) launched a new fact-sheet entitled ‘Good Cyber Security – the foundations’, aimed at increasing awareness of cyber security risks amongst firms in the financial sector. In particular, the fact sheet draws attention to the increasing rate of cyber attacks and to focus attention on practical steps […]

On 16 March 2017, the FCA published a guidance consultation on the treatment of politically exposed persons (PEPs) under the proposed Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (GC17/2). Click Here To See FCA – guidance consultation:  http://bit.ly/2nMfNTm Background: HM Treasury published the draft regulations for consultation on […]

July 7, 2016, saw the UK’s Financial Conduct Authority (FCA) publish fresh guidance in order to clarify the requirements which apply to the financial services firms it regulates when outsourcing to the cloud. http://www.fca.org.uk/static/fca/article-type/news/fg16-5.pdf When the FCA talks about the cloud, it is referring to the full range of cloud solutions which have evolved (such […]

The FCA has published guidance following a number of investment funds announcement of temporary suspensions of trading in their property portfolios and feeder funds. The guidance reminds fund managers of their obligations to investors, and sets out the FCA’s expectations in relation to dealing with suspensions. The FCA reminds managers that: if they dispose of […]

On 21 January 2016, the Hedge Fund Standards Board (HFSB) published a press release (dated 19 January 2016) summarising lessons learned from its first table top cyber-attack simulation for hedge fund managers in London. http://bit.ly/1SAnpop The aim of the simulation was to explore the response of hedge fund managers to three scenarios: Data theft and […]

The FCA has published an introductory reader’s guide to its Handbook. A copy of the guide is available. http://bit.ly/1FJWI6B

The FCA has published a summary of responses to its consultation on proposed amendments to “Financial Crime: A Guide for Firms” Following feedback from some respondents, the FCA has amended the guide to clarify that the definition of “source of funds” is consistent with that in the Joint Money Laundering Steering Group guidance. A copy […]

The FCA has published a guidance consultation and thematic review report (GC15/1) entitled “Risks to customers from performance management at firms: Thematic review and guidance for firms”. The guidance aims to help firms manage the risk of conflicts of interest, where workers have to balance objectives linked to sales results with other objectives, such as […]