Home / Uncategorized

The FCA Increases the Award Limit for the Financial Ombudsman Service

  8.03.2019   Uncategorized

The Financial Conduct Authority (FCA) published a Policy Statement (PS 19/8) with new rules that increase the Financial Ombudsman Service (FOS)’s award limit to:  £350,000 for complaints about acts or omissions

National Crime Agency publish SARs Annual Report

  28.01.2019   Uncategorized

On 29 December 2018 the National Crime Agency (NCA) published the 2018 SuspiciousActivity Reports (SARs) Annual Report. Statistics show that:  The UK Financial Intelligence Unit (UKFIU) processed a record

FCA Consultation on Cryptoassets and the Regulatory Perimeter

  24.01.2019   Uncategorized

On 23 January 2019, the FCA published a Guidance on Cryptoassets (CP 19/3)to provide regulatory clarity for market participants carrying on activities inthis space. The cryptoasset market, and the underlying

The FCA Issues £76m in Fines and a Ban from Regulated Financial Services

  17.01.2019   Uncategorized

On 16 January, the FCA published its Final Notice in respect of Stewart Owen Ford (Ford)and Mark John Owen (Owen), respectively the former CEO and Sales Director at KeydataInvestment Services

Diversity in Financial Services: FCA publishes speech

  20.12.2018   Uncategorized

The FCA has published a speech by Christopher Woolard, Executive Director of Strategy and Competition, in which he discusses the FCA’s active involvement in addressing culture and diversity issues both

Financial Conduct Authority publishes Market Watch 58

  18.12.2018   Uncategorized

The FCA has published Market Watch 58 in which it outlines its findings following a review of the industry implementation of the Market Abuse Regulation (MAR). The FCA maintains that

Finalised Changes to the FCA Financial Crime Guide

  13.12.2018   Uncategorized

The FCA has published its finalised guidance on financial crime systems and controls, including insider dealing and market manipulation (FG18/5). This follows a consultation in March 2018 on an update

FATF Reviews the UK’s Anti-Money Laundering Measures

  10.12.2018   Uncategorized

The Financial Action Task Force (FATF) has published a review of the UK’s anti-moneylaundering (AML) and counter-terrorist financing (CTF) measures following an on-site visit inMarch this year and a comprehensive

FCA Proposes Permanent Measures for Retail CFDs and Binary Options

  7.12.2018   Uncategorized

The Financial Conduct Authority (FCA) is proposing rules to address potential harm to retail consumers from the sale of certain complex derivative products with the publication of two consultation papers.

Former CEO of Sonali Bank (UK) Ltd Fined for AML Failings

  4.12.2018   Uncategorized

The Financial Conduct Authority (FCA) has today published a Decision Notice in respect of Mohammad Ataur Rahman Prodhan, the former Chief Executive Officer (CEO) of Sonali Bank (UK) Limited (SBUK),

Objectivus are delighted to support the Plogolution!

  11.11.2018   Uncategorized

We recently came across a new movement in London called Plogolution and they are doing some excellent work in helping to clean up the streets and engaging local communities.  Plogging

FCA Fines Tesco Bank £16.4m for Failures in 2016 Cyber Attack

  2.10.2018   Uncategorized

The Financial Conduct Authority (FCA) has fined Tesco Personal Finance plc (Tesco Bank) £16,400,000 for failing to exercise due skill, care, and diligence in protecting its personal current account holders

A look at the six leading principles of the FX Global Code

  30.05.2017   Uncategorized

On the 25th of May 2017, the Global FX Committee (GFXC) published the FX Global Code (the Code). Developed by a partnership between central banks and Market Participants from 16

ESMA Question and Answer Updates on How to Apply AIFMD and UCITS

  10.04.2017   Uncategorized

On the 6th of April, the European Markets and Securities Authority (ESMA) published updates to their Question and Answer documents in relation to both the Directive relating to Undertakings for

ESMA issues a consultation paper on a portion of MAR

  4.04.2017   Uncategorized

ESMA has just recently issued a consultation paper on a portion of MAR, which comes into force in July this year. Central to this complicated consultation is the rules around

ESMA publishes updated Q&A on CFDS and other speculative products

  3.04.2017   Uncategorized

On the 31st of March 2017, the European Securities and Markets Authority (ESMA) updated its Q&As on the application of the Markets in Financial Instruments Directive (MiFID) to the marketing

The UK Triggers Article 50: formal notice of intention to leave EU

  29.03.2017   Uncategorized

In accordance with the ruling made in R (on application of Miller and Dos Santos) v Secretary of State for Exiting the European Union and the constitutional requirements of the

Complete FX global code of conduct to be released on 25 May 2017

  27.03.2017   Uncategorized

On the 22nd of March 2017, the Bank for International Settlements (BIS) published a speech by Guy Debelle, Deputy Governor at Reserve Bank of Australia, on finalising and publishing the

Proposed revisions to JMLSG Part 1: March 2017

  23.03.2017   Uncategorized

On 21 March 2017, the Joint Money Laundering Steering Group (JMLSG) published proposed revisions to Part I of its guidance on the prevention of money laundering and the financing of

The FCA’s view on the use of dealing commission

  5.03.2017   Uncategorized

On the 3rd of March 2017, the Financial Conduct Authority (FCA) published their summarised findings from a review of dealing commission expenditure across thirty-one investment firms between 2012-2015. The FCA

FCA addresses expectations of providers and brokers on CFD

  26.01.2017   Uncategorized

On January 25, 2017, the FCA published a webpage to address its expectations of providers and brokers of retail contract for difference (CFD) products. This includes spread betting and rolling

Brexit Impact on UK Financial Services Industry

  1.07.2016   Uncategorized

Summary: It’s not clear whether, when or how the UK will leave the EU and I’m (personally) hopeful that any exit agreement for the UK will have passport-type protections for

Public Hearing on Virtual Currencies: need for regulation

  27.01.2016   Uncategorized

On Monday 25 January a European Parliament committee held a public hearing on virtual currencies at which it discussed the possibility of regulating digital currencies. Particular emphasis was put on

MIFID II – Timeline. What are the most important issues?

  22.10.2015   Uncategorized

The FCA has published a recent speech by David Lawton, Director of Markets Policy and International, FCA. In it he looks at the timeline for finalising MiFID II and MiFIR

Disruptive Innovation in Financial Markets

  18.09.2015   Uncategorized

On 26 October 2015 the FCA published a speech given by Mary Starks, the FCA’s Director of Competition, at an OECD meeting in Paris. Ms. Starks provides an overview of