The rise of compliance Written by: Kirsten Morel Increased regulation and demands for transparency have meant the compliance burden for financial service providers has become more onerous. Kirsten Morel examines how these firms have been affected You don’t have to work in the finance industry to be aware that compliance plays a key role in […]

The Financial Conduct Authority’s (FCA) forthcoming paper on simplified advice could stop firms from over-complying and help reduce costs, according to the regulator’s head of savings, investments and distribution policy David Geale. In May the FCA announced that it would be publishing a consultation paper and guidance over the differences between full advice, simplified advice […]

JP Morgan, the US financial services giant, is allegedly closing the bank and credit card accounts held by non-domestic politically exposed persons (“PEP“) in the US in order to contain the risks and the costs of compliance with anti-money laundering law in respect of PEPs. That would include the accounts of high profile public officials […]

SEC compliance and registration is the second-most costly compliance chore Global hedge fund managers are spending more than 7% of their total operating costs and more than 10 basis points (as a percentage of assets under management) on compliance — amounting to $700,000 annually for small firms, $6 million for medium firms and more than […]