Discover the UK’s Leading FCA Compliance Manual FCA Authorisation Guidance If you plan to carry out regulated activities, you will need to be authorised by the Financial Conduct Authority (FCA). Complying with the many rules and requirements means having the mandatory policies and controls in place prior to submitting your application. Read our FCA Authorisation […]
A company’s size, scope and sector help to determine the types of money laundering risks posed. An assessment is carried out across the entire business to identify and record risk factors. The records must be kept up to date, unless the relevant Supervisory Authority advises otherwise in writing. In addition to legal and regulatory compliance, reasons for carrying out an AML risk assessment are: –
Whether it’s for standard due diligence or to comply with your anti-money laundering obligations, it is an essential business practice to risk assess new clients. It is during the onboarding of new clients that a company needs to learn as much as it can about the customer. This includes identifying and validating the reasons a […]
Download your free copy of our FCA regulatory business plan template to supplement your authorisation application.
Can be used by any business type applying for authorisation with the FCA to carry out regulated activities.
The Financial Conduct Authority (FCA) handed out over £13million in fines in June 2022 in relation to breaches of the Money Laundering Regulations (MLR). For firms with obligations under the MLR who are also regulated by the FCA, the regulator is a Supervisory Authority with the power to investigate and sanction criminal and civil breaches […]
The FCA adopted the TCF outcomes and standards from the FSA, with the aim of continuing to ensure fairness, clarity and transparency in the financial and credit sectors and affording consumers using finance products and services, due consideration and increased confidence.
TCF continues to remain central to the FCA’s priorities and business plan year on year, with organisations being expected to embed and embrace the TCF culture and 6 desired outcomes.
When you write a due dilience policy from scratch, it is important to understand your aims and obligations. Identify if you have any specific regulations or industry requirements for the Know Your Customer Controls. Businesses with obligations under the Money Laundering Regulations will want to write a due diligence policy that ties in with their […]
Nearly every business outsources some services or functions to a third party. Learn how to create an effective outsourcing policy in this article. Your suppliers and service providers need to be as compliant as you are! What is Outsourcing? The general definition of outsourcing is where a business choses an external provider to perform one […]
FCA Policy Templates and Procedures are the foundation of financial and credit compliance programs. To ensure compliance with the FCA Handbook and supporting Sourcebooks, those authorised by the FCA must meet the mandatory minimum policy requirements. Our experienced team have been working in regulatory compliance for nearly 20 years. We provide more than 6000 organisations […]
What is Financial Crime? Financial crime, as defined by the FCA and FSMA is any kind of criminal conduct relating to money or to financial services or markets, including any offence involving: – (a) Fraud or dishonesty; or (b) Misconduct in, or misuse of information relating to, a financial market; or (c) Handling the proceeds […]