22
FEB
2017

Title: MiFID 11 or Brexit, which is the bigger compliance problem?

With MiFID 11 commencing in just over ten months time and Brexit taking at least another two years, you would have thought that compliance conversations would be concentrating on the new MiFID rules. The reality, in our experience anyway, is just the opposite. Smaller firms believe th
23
SEP
2016

FCA ICAAP reviews and subsequent Individual Capital Guidance

The FCA have, today, issued a Dear CEO letter to IFPRU firms alerting them to the fact that their ICAAP may be requested for detailed inspection. For some firms this will not be news as the process has already commenced, ICAAPs have been subjected to FCA review and the Supervisory Rev
11
FEB
2016

What is the FCA’s “Project Innovate” And How Can It Help The Nascent Fintech Sector.

In this article we’re going to first succinctly explain what precisely Project Innovate is, the elements it contains, and how it aims to help finance start-ups as well as established finance companies. We’re then going to briefly outline some of the developments that Project Innovate
11
FEB
2016

The FCA “Regulatory Sandbox” Explained.

The Regulatory Sandbox is the next step in the FCA’s ambitious move to embrace, encourage and enable greater innovation in the finance sector. The sandbox is a strong indication that the FCA is really committed to fostering greater innovation in the finance world, enabling the creatio
23
OCT
2015

FCA warns of intense regulation

  In a speech yesterday at the mansion house Tracey McDermott, acting chief executive of the FCA, warned that the current intensity of regulation is unsustainable. I am sure anyone in the financial services industry would not disagree, with even the most diligent of regulated fir
23
OCT
2015

Improvement at the FCA

The FCA’s Firms’ Contact Centre or Customer Contact Centre helpline has improved dramatically recently. Whereas, invariably, the caller was put in a queue ranging from between two and four callers, now the response has been instant in my last dozen or so calls. This cannot
11
MAY
2015

FCA Connect Variation of Permission problems

To alter a firm’s permission profile the relatively new FCA Connect system needs to be used. This has worked well until a month or so ago when any variation submitted for a firm that had ‘dealing as principal’ in their profile, whether qualified by a limitation or no
24
APR
2015

Hound of Hounslow

The papers just love an alliterative headline and the accused market trader is certainly making for good copy in an otherwise dull election news period. The leading authority on High Frequency Trading, Michael Lewis author of Flash Boys, asks some pertinent questions in the Evening St
23
APR
2015

Market Abuse by British trader accusation

The day of the flash crash, May 6th 2010, is seared in many traders memories. It wiped a few businesses out, caused shock waves to many more and caused an increase in compliance which is still filtering into the system, including parts of MiFID 2. The FCA details seven forms of market
24
MAR
2015

The FCA have announced that Suspicious Transaction Reports (SARs) have increased by 24% year on year.

Securities transactions are reported to the FCA, on a daily basis, at great cost in terms of money and resource to the authorised firms. Initially an increase in SARs would appear to be an increase in suspicious activities but legal experts put it down to more heightened awareness in