Blogs

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...

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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?...

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Transparency & Transfer Agents

governance, third parties, oversight, breach management, risk management, CASS, client assets, audit trail, outsourcing, transfer agents, AIFs, UCITS Funds, depositaires

Prior to AIFMD and UCITS V, transfer agents (TAs) were unknown, however the need for greater transparency and trust has raised their profile. Transfer agents play an important role in financial services. They fulfil a number of functions such as maintaining and...

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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...

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Tips to create risk ownership within your firm

governance, culture, breach management, risk management, monitoring, issues, TCF

Strategies for Establishing Risk Ownership in Your Firm One of the fundamental obligations applicable to all regulated firms is the need to implement appropriate processes to manage risks. But how do we encourage our staff to take responsibility and raise issues...

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Operational Resilience: Why is it so important for insurers?

accountability, risk management, operational resilience

L ike banks, insurers operate on a large scale and globally, but by their very nature, insurers are exposed to more risks than the average bank, wealth manager or other regulated firms. This is because insurers support the economy by transferring the risks that we face...

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Better Breach Management

third parties, culture, breach management, risk management, issues, data sharing

A firm’s operational error log can provide a great deal of information about its compliance culture. Consider the following: Is it always the same individuals recording all the issues? Has the log remained untouched for several months? Are the identified issues...

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Operational Resilience: Why Setting International Standards is Crucial

third parties, accountability, corporate governance, oversight, risk management, operational resilience, monitoring, audit trail, BCBS, IOSCO

We’re all aware that operational resilience requires an holistic view of a firm’s operations. The Financial Services industry operates globally and requires a coordinated effort to establish a resilient framework. Current work to improve resilience focuses on being...

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Operational Resilience – Is Outsourcing on your Radar?

governance, third parties, oversight, risk management, operational resilience, outsourcing

Build a Stronger Operational Resilience Framework With the publication of final policy statements there is a clear message that firms must look externally at third party relationships as part of their Operational Resilience framework. The requirements are designed to...

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