Can you honestly state that your firm has a purpose and a culture that sets an example within the financial services market? Under SM&CR, it will no longer be acceptable to sit back and say that you turned a blind eye to bad behaviour because of weak culture and governance.
What can we reasonably say?
At a time of such noise and conflicting ‘truths’ about Brexit, what can we reasonably say?
Customer Service – Why it matters
Under the Insurance Distribution Directive (IDD), insurance intermediaries must have the minimum necessary knowledge of complaints handling. Here’s why having strong customer service skills provides a solid foundation for meeting this requirement.
FCA Fines on Regulated Firms and Individuals
A fine is one of the most visible penalties that the FCA can impose. As a reminder of how serious enforcement action can be, this article looks at the penalties issued by the regulator over recent years.
The Fifth and Sixth Anti-Money Laundering (AML) Directives
Terence Clark looks at the changes proposed by the fifth and sixth Anti-Money Laundering Directives.
FCA Issues Consultation Paper on SM&CR
The FCA has issued further consultation on SM&CR and is requesting comments on Consultation Paper 19/4: ‘Optimising the Senior Managers & Certification Regime and feedback to DP16/4 – Overall responsibility and the legal function’ by 23 April 2019.
Skills Uncertainty and SM&CR
Research suggests that three-quarters of the UK workforce are unclear on the skills their employer requires them to have. However, under SM&CR, firms must take responsibility for their staff being fit and proper and must know and be able to show who does what.
Multiple Trading Names and Consumer Confusion
Having multiple trading names can be confusing for consumers. It could mean your firm is not fulfilling the FCA’s requirement of being clear, fair and not misleading.