Compliance Manual for Financial Services

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 […]

How To Carry Out an AML Risk Assessment

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: –

How Do I Risk Assess New Clients?

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 […]

Eye Watering FCA Fines for MLR Breaches

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 […]

3 Ways to Improve Your Cyber Security

What is Cyber Security? The term cyber security simply means protecting your devices and networks from cyber attacks. Computers, smartphones and tablets are an essential part of every day life. Whether it’s via email, app, the internet or connection to a network, all our devices are susceptible to unauthorised access. Cyber criminals continually find new […]

What Are GDPR Technical and Organisational Measures?

The GDPR refers to the ‘appropriate technical and organisational measures’ 92 times! This alone emphasises the importance of having these measures in place. But what are they? Unfortunately, the Regulation doesn’t go into any detail about these measures and what exactly they are. Hence the creation of this article.

GDPR Data Protection Impact Assessment

Article 35 of the General Data Protection Regulation (GDPR) focuses on the Data Protection Impact Assessment (DPIA) and what obligations organisations have in considering and carrying them out.

Where processing is likely to result in a high risk to individuals, an impact assessment is the tool used to protect the individual(s) and their information as far as possible.

Using the 6 Outcomes to Effectively Implement TCF

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.