Regulation

Over the years, I have been fortunate to be welcomed into businesses as a trusted coach, consultant and facilitator of learning interventions and process optimisation.

These new rules will replace the current data protection rules which go back to 1995. These new General Data Protection Regulations (GDPR) are designed to give individuals more control over their own private information.

As we know, it is a criminal offence to offer any financial service to a known or suspected terrorist. Hence the reason to ensure that all clients are subject to financial sanctions checks at new business and renewal stages.

RWA Solutions approached 300 of those firms with an anonymous 20 question survey and almost exactly 25% responded.

It is evidently prudent to keep some ‘rainy day’ money in reserve and whilst the FCA is not prescriptive about the amount of contingent element that has to be identified, it details that "adequate risk management systems" are required by PRIN 3 (which is mandatory) and a firm must "monitor and report the risks it is or might be exposed to" as required by SYSC 4.1.1.R (which is also mandatory).

I thought the title might encourage you to read on! By the time you have read this, the last option may seem to be the most appealing…

In a recent meeting with the FCA, it was indicated that there is a serious concern within the client money team over the quality of documentation held by insurance broking firms.

Many, if not all of you, will have received an email from the FCA advising that you have been given new permissions to advise on Peer to Peer (P2P) investments.

The FCA’s shake-up of the general insurance add-on market came into force on 1st April 2016.

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