What is an Important Business Service? An important business service is one that if disrupted, could cause potential harm to consumers and/or pose a risk to the stability and integrity of the financial market or system. Completing an Important Business Services Assessment is mandatory for many regulated firms. The identification and documentation of such services […]
This free GDPR information audit template has been developed to comply with the current data protection legislation. Available to download without having to add any contact details. The easy to use Excel template can be fully customised and is suitable for any business type or industry. What is a Data Protection Information Audit? Carrying out […]
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 […]
The use of CCTV surveillance “CCTV” requires the user to have certain measures and controls in place. Measures can range from signposting that makes the public aware CCTV is being used; through to having a compliant CCTV policy and checklist. The data obtained through the use of CCTV falls under the data protection legislation. This […]
Why use a Suspicious Activity Report Template? It provides the confidence to know that you are collecting, documenting and submitting the right data, in the right format, to the right governing body. It will also save you time and money buy joining 10,000+ firms who already use our templates! Reporting Suspicious Activities Businesses with obligations […]
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 […]
Initially published in 2017 ahead of the General Data Protection Regulation (GDPR) enforcement, this article has been updated for those new to the UK GDPR. Understand some of the GDPR Conditions & Rights that apply under the UK’s data protection Regulation and see how to comply with your obligations. Lawfulness of Processing Conditions The onus […]
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 […]
What does ‘data minimisation’ mean? Simply put, data minimisation is the process of limiting the collection and retention of personal data to what is absolutely necessary. The purpose for processing personal data should be identifed by the data controller. The information collected should be adequate to fulfil that purpose, directly relevant and limited to what […]
Do you need to review financial promotions for CONC compliance? This article provides guidance and information on who CONC applies to and how to review your promotions to comply with CONC 3. What is the Consumer Credit Sourcebook? The Consumer Credit Sourcebook (CONC) is listed under the ‘specialist sourcebook’ section of the FCA handbook. It […]