Megan Butler, the FCA’s Director of Supervision – Investment, Wholesale and Specialists, delivered a speech outlining the FCA’s key areas of concern and subsequent activity in the advice and investment management market. https://www.fca.org.uk/news/speeches/assessing-value-financial-advice Highlights: Financial advice and investment management is of unprecedented importance to society, now more than ever. The FCA is particularly active in […]
Read MoreCulture in Financial Institutions: It’s Everywhere and Nowhere – Speech by Andrew Bailey (FCA)
Andrew Bailey (Chief Executive – FCA) has given a speech on culture in financial institutions at the Hong Kong Monetary Authority conference for independent non-executive directors. Mr Bailey set out his view of the respective roles of firms’ governing bodies and management and public authorities and used two case studies – concerning remuneration and governance […]
Read MoreThe growing need for a cyber “security culture” in the financial services sector – a view from the FCA
As online financial services are becoming more popular, financial institutions are facing an increasing number of organised cyber-attacks and multi-channel threats. According to a report published in February 2017, financial technology (FinTech) companies in particular are experiencing an increasing number of cyber-attacks from those taking advantage of alternative lending and payment models as well as […]
Read MoreFCA Speech on Investigations and Enforcement
FCA Enforcement Director highlights impact of SMR and importance of early detection of misconduct and prompt regulatory response. On 20 January 2017, the FCA published a speech (dated 19 January 2017) by Mark Steward, FCA Director of Enforcement and Market Oversight, on the practical implications of US law on EU practice. Points of interest in […]
Read MoreFCA Speech on Financial Crime Priorities
On 10 November 2016, the FCA published a speech given by Rob Gruppetta, head of the FCA’s financial crime department, on the FCA’s financial crime priorities. In the speech, Mr Gruppetta provides an overview of current FCA financial crime initiatives, including: Potential reforms to anti-money lending (AML) regulation. The FCA is raising various potential reforms […]
Read MoreFCA Speech on its Supervisory Approach to Cyber Security in Financial Services Firms
On 22 September 2016, the FCA published a speech (dated 21 September 2016) by Nausicaa Delfas, FCA Director of Specialist Supervision, on the FCA’s supervisory approach to cyber security in financial services firms. In her speech, Ms Delfas emphasises that cyber security be a shared interest and responsibility for firms and the FCA. The FCA […]
Read MoreFCA Speech on Taking More Effective Approach to Combatting Financial Crime
On 22 September 2016, the FCA published a speech (dated 20 September 2016) by Megan Butler, FCA Executive Director of Supervision – Investment, Wholesale and Specialists, on taking a more effective approach to combatting financial crime. Among other things, Ms Butler notes in her speech that: Banks have a specific role to play in tackling […]
Read MoreThe Role of the Regulator in Culture and Conduct
The FCAs Director of Supervision – Retail and Authorisations, Jonathan Davidson delivered a speech at the 2nd Annual Culture and Conduct Forum for the Financial Services Industry – here are some highlights:- The culture of regulated firms has always been core to the FCAs regulation of their conduct although Mr Davidson reiterated that the FCA […]
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