London 6 June Insurance Brokers , Insurance Compliance. The use of enforcement powers against firms with poor AML controls. The key message arising from the Mission is delivering public value. Dublin 29 May

The FCA plans to consult on the extended regime later this year and implement the extended regime in All posts The FCA plans to publish a paper setting out its approach to competition in advance of its next business planning round. The FCA emphasises that firms need to manage the risks of innovation to ensure it does not jeopardise consumer protection or the integrity of the financial system. The FCA has identified the following issues which impact consumer vulnerability and access to financial services:

Overview of the FCA Business Plan for 2017/2018 and Mission for 2017

The FCA has confirmed it intends to continue to embed the Senior Managers and Certification Regime into its supervisory approach and processes.

The FCA says it is keen to expand its role in supporting technological innovation more directly. Remit – the FCA is clear that decisions should be made within its regulatory remit and the FCA should be clear where an issue falls outside its remitcovering its core jurisdiction of the activities for which firms need authorisation as set out of the Regulated Activities Order.

With regards to the General Insurance Sector, set out on pages we see the FCA focusing on the following key areas:.

fca business plan 2017/18 ey

The analysis of early responses to the Financial Crime Annual Data Return, introduced into ensure focused supervision. Ultimately, firms should consider if buskness are achieving these outcomes — and, if not, firms will need to take appropriate action to ensure that they are well positioned to do so going forward.

The FCA Business Plan /18

Key themes 20 April – Post by: Wholesale financial markets too remain important. If we are, what management information could we use to demonstrate this? Technological change and resilience The FCA sees itself as having a key fa to play in ensuring that new technologies are safely adopted. By continuing to use this site without changing your settings you consent to our use of cookies in accordance with our cookies policy.


Continuing to use intelligence, including from whistleblowersto prevent money laundering and providing support and anonymity to individual whistleblowers. In terms of operational resiliencethe FCA, working with the Bank of England vusiness HM Treasury, will continue to engage with firms when outages of key systems or cyber-attacks occur, particularly where there is significant consumer or market impact.

These seven sectors are:. Firms should pay close attention to both the cross sector and individual sector risks that apply to their firms.

Real estate investment management – market trends and corporate transactions – what you need to know London 6 June View all events. They explain how and why we regulate financial conduct in the UK and what we want our regulation to achieve, our view of the issues and challenges in the sectors we regulate, our plan and priorities for the period ahead How should businesses prepare for GDPR?

What issues identified by the FCA apply to our firm? The use of enforcement powers against firms with poor AML controls. This document and any information accessed through links in this 2017/118 is provided for information purposes only and does not constitute legal advice. This analysis should be disseminated to relevant committees, and up to board level.

Referring cases to other law enforcement agencies where the FCA has identified suspected money laundering. In addition, the FCA has published its priorities for seven specific sectors, highlighting key issues in each area and its view on how each sector is performing.


fca business plan 2017/18 ey

In fcw to respond to the issues that it has identified, the FCA has identified the following key planned activities: About the author Terence Clark Terence has over 35 years’ experience in the Financial Services environment, covering general insurance, investments and mortgages. For example, the FCA intends to: Are we confident that we are meeting regulatory expectations in these areas?

United Kingdom (and EU regulation)

Analysing early responses to the Financial Crime Annual Data Return that was rolled-out last year to ensure it is focusing its supervision on the right firms see our summary of this development 22017/18. While part of an ongoing theme from the FCA, the Business Plan nevertheless makes it clear that the FCA aims to ensure that existing customers do not receive less attention than new customers.

The FCA has identified the following issues which impact bussiness vulnerability and access to financial services: View all video podcasts. RWA Compliance Services Ltd takes your privacy very seriously buisness will only use your personal information to administer your account and to provide the products and services you have requested from us.

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