24935 Search Results for
  • FCA: Cryptoasset AML / CTF regime

    05.03.2024
    FCA has published the registration statistics as at 1 March 2024.

    FCA has published the registration statistics as at 1 March 2024.

    Support Information:
    https://www.fca.org.uk/firms/cryptoassets-aml-ctf-regime/feedback-good-poor-applications#revisions
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  • FCA: Speech by Emily Shepperd: The hallmarks of a future-fit workforce

    05.03.2024
    Text of Emily Shepperd’s speech of 5 March 2024 follows in which she discusses aspects of skills in the financial services sector, culture, and possibilities and challenges from AI.

    Text of Emily Shepperd’s speech of 5 March 2024 follows in which she discusses aspects of skills in the financial services sector, culture, and possibilities and challenges from AI.

    Support Information:
    https://www.fca.org.uk/news/speeches/hallmarks-future-fit-workforce
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  • FCA: Response to FSB’s super-complaint - requiring personal guarantees for business loans

    05.03.2024
    FCA has published its response to the Federation of Small Businesses’ super-complaint, which concerned the requirement for personal guarantees to support lending to SMEs.  FCA has set out a...

    FCA has published its response to the Federation of Small Businesses’ super-complaint, which concerned the requirement for personal guarantees to support lending to SMEs.  FCA has set out a number of steps it intends to take, including: the collection of data from a representative group of lender firms to help it understand the number of personal guarantees in place as a proportion of total SME lending; the review of a representative sample of firms’ policies and procedures to better understand when lenders will require personal guarantees for loans provided under FCA’s regulatory remit, and will test how firms’ policies and procedures comply with the obligations for firms carrying out credit regulated activities, as set out in CONC.  Once the work is complete, FCA will consider whether it is appropriate to undertake further supervisory work and engage with HMT and FOS.  FCA may also consider if lenders require additional guidance for situations where a personal guarantee is in place.

    Support Information:
    https://www.fca.org.uk/publications/corporate-documents/fca-response-fsbs-super-complaint-requiring-personal-guarantees-business-loans
    https://www.fca.org.uk/news/press-releases/fca-investigate-use-personal-guarantees-certain-small-business-lending
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  • FCA: “Dear CEO” letter: Action needed in response to common control failings identified in anti-money laundering frameworks

    05.03.2024
    FCA has undertaken assessments of Annex 1 firms’ financial crime policies, controls and procedures – FCA notes that it has enhanced the monitoring of Annex 1 firms (which include some lenders,...

    FCA has undertaken assessments of Annex 1 firms’ financial crime policies, controls and procedures – FCA notes that it has enhanced the monitoring of Annex 1 firms (which include some lenders, safe custody providers, money brokers and financial leasing companies) and is increasing proactive work in this area.  The letter sets out common themes coming out of recent assessments, including a list of common weaknesses in critical areas, and FCA’s expectations.  All Annex 1 firms should assess their financial crime controls against the common weaknesses found within the next six months and need to act promptly to resolve them.

    Support Information:
    https://www.fca.org.uk/publication/correspondence/dear-ceo-letter-action-response-common-control-failings-anti-money-laundering-frameworks.pdf
    https://www.fca.org.uk/news/news-stories/fca-warns-firms-over-anti-money-laundering-failings
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  • EBA: Guidelines on the establishment and maintenance of national lists or registers of credit servicers

    05.03.2024
    Further to its July 2023 consultation, EBA has published final guidelines addressed to competent authorities managing the lists or registers and specify the content of the lists or registers, how they...

    Further to its July 2023 consultation, EBA has published final guidelines addressed to competent authorities managing the lists or registers and specify the content of the lists or registers, how they should be made accessible, and the deadlines for updating them.

    Support Information:
    https://www.eba.europa.eu/sites/default/files/2024-03/a19c8fde-15f1-4692-ad3b-f03e0bb2fff7/Final%20report%20on%20GL%20on%20CS%20registers.pdf
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  • HMT: Economic Crime and Corporate Transparency Act 2023

    04.03.2024
    Additional factsheets have been published on the following: limited partnerships, the impact of corporate transparency reforms on limited liability partnerships, civil sanctions and offences relating to...

    Additional factsheets have been published on the following: limited partnerships, the impact of corporate transparency reforms on limited liability partnerships, civil sanctions and offences relating to reform of Companies House and limited partnerships, and beneficial ownership.

    Support Information:
    https://www.gov.uk/government/publications/economic-crime-and-corporate-transparency-act-2023-factsheets#full-publication-update-history
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  • HMT: Pension reform

    04.03.2024
    Jeremy Hunt has announced pension fund reforms, including requirements for DC pension funds to publicly disclose their level of investment in the UK and publicly compare their performance data against...

    Jeremy Hunt has announced pension fund reforms, including requirements for DC pension funds to publicly disclose their level of investment in the UK and publicly compare their performance data against competitor schemes, including at least two schemes managing at least £10 billion in assets.  The plans are subject to a FCA consultation.

    Support Information:
    https://www.gov.uk/government/news/chancellor-backs-british-business-with-pension-fund-reforms
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  • BIS: Quarterly Review

    04.03.2024
    The latest edition of the Quarterly Review includes an article on the design and adoption of fast payment systems.  All items in the Review may be downloaded via the following link.

    The latest edition of the Quarterly Review includes an article on the design and adoption of fast payment systems.  All items in the Review may be downloaded via the following link.

    Support Information:
    https://www.bis.org/publ/qtrpdf/r_qt2403.htm
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  • European Parliament: European Deposit Insurance Scheme

    04.03.2024
    The European Parliament has published a draft report on the proposal for a regulation to establish a European Deposit Insurance Scheme.

    The European Parliament has published a draft report on the proposal for a regulation to establish a European Deposit Insurance Scheme.

    Support Information:
    https://www.europarl.europa.eu/doceo/document/ECON-PR-758704_EN.pdf
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  • EBA: Consultation paper on draft regulatory technical standards on the allocation of off-balance sheet items and UCC considerations under CRR3

    04.03.2024
    EBA is consulting on its draft regulatory technical standards under CRR3 regarding off-balance sheet items under the standardised approach of credit risk.  Responses are required by 4 June 2024.

    EBA is consulting on its draft regulatory technical standards under CRR3 regarding off-balance sheet items under the standardised approach of credit risk.  Responses are required by 4 June 2024.

    Support Information:
    https://www.eba.europa.eu/sites/default/files/2024-03/b01a1857-3b6b-46ff-b056-7c1800097880/Consultation%20paper%20on%20draft%20RTS%20CRR3%20CR-SA%20mandate%20on%20off-balance%20sheet%20items.pdf
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