Regulation round-up September 2017

Regulation round-up is our monthly email to all regulated firms, updating you on the latest news that affects your sector.

Read or download the full Regulation round-up: September 2017

Sign up to Regulation round-up monthly updates

Introduction: Linda Woodall, Director of Life Insurance and Financial Advice and Sponsor of the Ageing Population Project

Welcome to the September edition of Regulation round-up. I’d like to take this opportunity to discuss our work on the Ageing Population Project, as we’ve just published an Occasional Paper setting out the findings from this project.

Read more

 

Hot topic: Increasing our focus on Anti-Money Laundering

We've just implemented a set of measures to enhance our supervision strategy for Anti-Money Laundering (AML) and sanctions. The measures are designed to provide us with greater reach over the population of firms we regulate. One aspect of these measures is a new programme which involves annually reviewing the AML and sanctions systems and controls of approximately 100 largely randomly selected firms. These firms are from those sectors we supervise that we consider present lower inherent money laundering risk. The purpose of the programme is to help raise standards, provide us with a better picture of the risks posed by different sectors and give us assurance that our risk assessment is correct.

Read more

 

Hot topic: MiFID II

From 3 January 2018, all clients of firms subject to MiFID II transaction reporting obligations must have a Legal Entity Identifier (LEI) if they wish to continue to trade in qualifying instruments. An LEI is a unique identifier for persons that are legal entities or structures including companies, charities and trusts. Firms should act now to ensure that all of their clients who need an LEI, get one prior to 3 January 2018. We will be issuing an FCA communication that reporting firms can use, if they wish, to support their own client outreach on this matter. See LEI update for further information.

Read more

In your sector…

Financial advisers

MiFID II

Recovery plan submissions for IFPRU 730k firms

Live & Local - new dates and locations announced

Read more

 

General insurance intermediaries and insurers

Live & Local events from September to December

Read more

 

Banks and building societies

Webpage update: Mortgage Lending Statistics (MLAR): Q2 2017 data

MiFID II

Read more

 

Life insurance and pension providers

Data Bulletin Issue 10

Live & Local events from September to December

Final decision to make a Market Investigation Reference to the CMA on investment consultancy and fiduciary management services

PS: Transaction cost disclosure in workplace pensions

Read more

 

Investment managers

MiFID II

Recovery plan submissions for IFPRU 730k firms

Final decision to make a Market Investigation Reference to the CMA on investment consultancy and fiduciary management services

PS: Transaction cost disclosure in workplace pensions

Read more

 

Wealth managers

MiFID II

Recovery plan submissions for IFPRU 730k firms

Read more

 

Consumer Credit

Dear CEO letter to all firms with consumer credit permissions regarding complaints handling

Live & Local regional events

Read more

 

Credit unions

Webpage update: Mortgage Lending Statistics (MLAR): Q2 2017 data

Read more

 

Fintech and innovative businesses

FCA launches Payment Services Directive II policy statement

Read more

 

News and publications

Data Bulletin Issue 10

From advert to action: event content

Complaints return (DISP 1 Annex 1R) - Changes to validation rules on the contextualisation metrics tables (Table 3 and 6) GC: OPBAS

New email delivery system

Read more

 

Read or download the full Regulation round-up: September 2017

Sign up to Regulation round-up monthly updates