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 Labuan Financial Services Authority, on October 13, 2014, announced that it had signed a Memorandum of Understanding on cooperation with the Jersey Financial Services Commission last month, to foster improved collaboration on the regulation of the territories’ offshore financial services industries. The Labuan FSA said: “The MoU with JFSC is significant to [the] Labuan […]

Characteristics of an accomplished regulator Lord Eatwell Chairman suggested in his speech That no effective regulator will ever be popular. By definition, regulation involves stopping people doing things that they want to do, and requiring them to do things that they don’t want to do and An accomplished regulator can be respected and recognised as […]

  The Financial Services Compensation Scheme (FSCS) is facing claims worth around £2.55m for 12 investment and life & pensions firms newly declared in default – which would need to be paid for by investment adviser levy-payers. The firms, which consists of seven investment intermediaries and five life and pension advisers, racked up a total […]

A nameless compliance director is left baffled after a meeting with the FCA….. Given that our company has been authorised for fewer than two years and has grown to around 35 advisers, it was no great surprise when we were asked to attend a face-to-face meeting with the Financial Conduct Authority (FCA) as part of […]

The Financial Conduct Authority (FCA) is concerned about the due diligence advisers perform on investment product providers and will continue to monitor the area, technical specialist for the regulator Rory Percival has said. Speaking at the Defaqto investment outsourcing conference on Tuesday, Percival said advisers should think about what best practice should look like and […]

Corporate service providers supply the shell companies that are commonly used to launder illicit funds, including the proceeds of corruption. Effectively regulating these service providers is one important way to limit money laundering and therefore make corruption less profitable. Governments and international organisations must look beyond their current preoccupation with formal laws and regulations to […]