Anti money laundering policy templates will save you time and money. Understanding and complying with the Money Laundering Regulations (MLR) is a complex and time consuming facet of running a business. Many sectors and industries have obligations under the and are supervised by approved governing bodies. The main Supervisory Authorities for money laundering are HMRC […]
We supply the UK’s leading FCA Compliance Manual to firms looking to gain or maintain their FCA authorisation application. Updated each year and cover all the mandatory policies, procedures and controls for compliance with the FCA Handbook. The contents of the manual are worth more than £2,500! However, you can get exclusive access to the […]
What is a Privacy Notice? A privacy notice as a document, form, webpage or pop-up that is provided to individuals at the point their personal information is collected. Where data is obtained indirectly, the notice is provided at the earliest opportunity. A business is obligated to provide a privacy notice to all individuals when their […]
High-Risk Countries Regulations The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2024 came into force on 24th January 2024. It makes alterations to Regulation 33(3)(a) of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR). Prior to this date, countries posing a higher risk of money […]
New to FCA authorisation? Just completing your FCA application? Whether you are trying to become authorised by the FCA or you are reviewing your existing FCA compliance framework, our exclusive FCA Application Policy Toolkit is for you. When you read through the FCA guidance notes that accompany the FCA authorisation application, you will see the […]
Having adequate, effective and compliant policies, procedures and training workshops on what makes a customer vulnerable, how to identify them and how to communicate effectively is not only a mandatory FCA requirement, but also an essential business practice. It is even more important in times of national crisis, such as the current pandemic, to ensure […]
HSBC Fined £6,280,100 The importance of having effective policies and procedures in place for treating customers fairly and managing those in arrears cannot be overstated. HSBC UK Bank plc and Marks and Spencer Financial Services plc (“HSBC”) are the latest firm penalised for failing to treat customers in arrears or with financial difficulties fairly. Last […]
Why is Wind-down Planning Important? The FCA’s wind-down planning guidance was published back in 2016. This has recently gained additional scrutiny and attention with the publication of the FCA page ‘Preparing your firm’s wind-down plan’ in March 2024. While the 60-page guidance itself does not impose any obligation on a firm to create a wind-down […]
Introduction Anti money laundering (AML) compliance in the UK is overseen by appointed supervisory authorities. AML for Annex 1 registered firms has recently come under scrutiny by the FCA after their assessment into money laundering prevention processes. The regulator found cases of discrepancies between the registered and actual activities carried out by firms. In addition, […]
This article provides information on the Consumer Duty and offers suggestions for complying with the rules and outcomes. We have put the FCA Consumer Duty guidance into simple to read sections and have included controls and tools for adherence to the Duty requirements. What is The Consumer Duty? The FCA’s Consumer Duty (“the Duty”) came […]