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On 17th June 2022, the FCA issued an update regarding its work to prevent and detect market abuse. In particular, the FCA outlined its monitoring techniques and approach to enforcement. The aggregate picture was one of “increasing intensity, scrutiny and...

Michael Sacks, Director of Digital Learning Strategy at CCL Academy reveals how firms can enhance their compliance training strategy by taking three simple steps. Step 1...

In a survey published in May 2022, 55% of people reported that their health has been negatively impacted by the rising cost of living (YouGov/Royal College of Physicians). With the FCA spotlight on delivering good outcomes for customers, how can...

US regulator looking at retail sales practices for “complex products”. Wirecard administrator chasing recovery of dividends and tax. Allianz settles for $5.8bn over US securities fraud. ECB demands big investment banks address “empty shell” desk issue. BNY Mellon fined by...

In April 2022, the FCA released its review of the financial crime controls at six challenger banks. Whilst the review found evidence of good practice, in particular through the innovative use of technology, it also highlighted weaknesses which increased the...

Steelworkers pension redress plan proposed by FCA. US SEC proposes tightening of SPAC requirements. Dubai launches Virtual Asset Regulatory Authority. Tokio Marine says Greensill insurance cover was gained by fraud. FCA outlines strategy for the next three years. Banks worry...

With an increasing number of cyber security incidents reported by the FCA, businesses need to ensure that the fundamentals of cyber security are in place. Here are some timely reminders for staff on their role in protecting the firm against...

Elizabeth Holmes found guilty of defrauding investors in blood-testing company Theranos. KPMG admits to misconduct over Carillion. Horta-Osorio quits as chair of Credit Suisse due to Covid breaches. AGM vote count blunder at Go-Ahead. DWS CEO suspicions related to Porsche...

Two US billionaires investigated over possible insider dealing. Braun charged with fraud over Wirecard. UK and EU accelerate sanctions against Russia. Covid Bounce Back Loan fraud estimates revealed. Only a quarter of crypto firms currently meet FCA requirements. Economic Crime...

Whistleblowing procedures are a crucial part of effective corporate governance and a key back-stop for a positive compliance culture in firms. People who blow the whistle in accordance with the law and regulation play an important role in exposing poor...

Financial and trade sanctions are being issued at an unprecedented rate, so it is vital that all staff are aware of sanctions risk and understand how sanctions affect their business activities. The UK sanctions regime must be considered, as well...

The FCA recently published a statement about the competency and capability of Heads of Compliance and MLROs, providing advice on what is required for them to be effective in their roles. The UK regulator advised that Heads of Compliance and...