Ruleguard’s regulatory insights & resources

Are you ready for the Consumer Duty?

governance,  third parties,  accountability,  assessments,  wealthmanagement,  consumerduty,  systems and controls,  compliance,  culture,  corporate governance

Following the initial milestone of 31st October 2022, the FCA reviewed a sample of the implementation plans from some of the larger firms operating in the UK. These were firms deemed to be of higher risk as they operate in the retail market and could impact both...

Read More

Operational Resilience: Don't forget Cyber Resilience!

third parties,  assessments,  operational resilience,  audit trail,  data sharing,  cyber resilience

The FCA published a cyber resilience questionnaire cross sector report in 2018 and its findings are still relevant today. The cross sector report highlighted that the following points were top of the agenda for many firms: Concerns around cyber resilience Improving...

Read More

Assertive FCA issues Business Plan & Strategy

assessments,  FCA,  reporting,  risk management,  regulatory strategy,  monitoring,  audit trail,  business plan

It’s that time again! This year the FCA has issued a Strategy Document for the next three years to accompany its Business plan for 2022-23. This will be followed shortly by publication of its Data Strategy. Last year the FCA focused on becoming "more innovative, more...

Read More

Cryptoassets: Why be concerned?

assessments,  FCA,  risk management,  PRA,  ESA,  digital assets,  cryptoassets

In recent years, the term cryptoassets has slowly crept into our vocabulary. It’s a hot topic for debate and in the past few weeks, we’ve seen various countries and regions issuing guidance and warnings to both regulated firms and the public. What are cryptoassets?...

Read More

How well do you know your Appointed Representatives?

governance,  third parties,  assessments,  oversight,  risk management,  monitoring,  due diligence,  competence,  appointed representatives

In December 2021, the FCA published its proposals for improving the oversight of appointed representatives. Regulatory expectations: The FCA is looking to reduce harm to consumers by strengthening the appointed representatives regime. From its thematic reviews of...

Read More

Discover the benefits of CASS audits

third parties,  assessments,  audit,  CASS,  data sharing

Whilst it is not the regulator’s objective to prevent firms from failing, where a firm does fail, the aim is to manage this in an orderly manner. Hence the basic capital resources requirement for all regulated firms. The regulator aims to avoid disorderly failure,...

Read More

Tips for Effective Compliance Monitoring

assessments,  monitoring,  audit trail,  data sharing

All regulated firms are obliged to conduct compliance monitoring. The compliance function is required to monitor and test compliance by performing sufficient and representative compliance testing. Then the results are reported up through the compliance reporting line...

Read More

Creating Resilient Payment Services

governance,  third parties,  accountability,  assessments,  corporate governance,  oversight,  breach management,  operational resilience,  monitoring,  SM&CR,  data sharing

This was the view of the Payment Systems Regulator (PSR) back in 2015 when the PSR was still relatively new. Six years later and it’s fair to say that payments systems are even more critical today. It’s a message echoed by the Bank of England (BoE) and evidenced by the...

Read More