Blog

Asset Management

Identification of Vulnerable Clients – is your firm meeting the FCA’s expectations?

The fscom team explores the FCA’s expectations for identifying and supporting clients in vulnerable circumstances. The FCA is actively reviewing firms’ practices to ensure fair treatment and good outcomes for vulnerable clients in line with the Consumer Duty.

25/10/2024

Uncategorized

Why is the DSS Such an Important Step in the UK’s Approach to Embracing Digital Finance?

In this article, fscom Head of Digital Assets Heather O’Gorman explores the DSS initiative, led by the Bank of England and the FCA. The DSS aims to foster innovation while ensuring financial stability and market integrity.

15/10/2024

Press release

fscom appoints Maja Marszalek as Head of Business Development

FSCom Limited today announced the appointment of Maja Marszalek as its New Head of Business Development.

02/10/2024

Asset Management

Client re-categorisation rules: Key takeaways

In this article, the fscom team explores the key takeaways from the client re-categorisation rules.

26/09/2024

Regulatory Compliance

Managing PEP Risks: Understanding Recent Regulatory Changes and FCA Guidance Updates

The fscom team explores the impact of the recent amendments to regulations and the FCA’s proposed updates to guidance on how firms should manage their relationships with PEPs.

28/08/2024

Capital Markets

What you need to know about the FCA latest wholesale markets proposals

In this article, we look at the latest set of proposals from the FCA targeted towards building up the UK wholesale markets, following the recommendations set out in the wholesale markets review and the 2022 Edinburgh reforms.

09/08/2024

Artificial Intelligence (AI)

The EU AI Act: proactivity is crucial for financial institutions to meet key deadlines

The EU announced the publication of the AI Act on 12 July 2024. Whilst this protocol comes into effect on 1 August 2024, it will be the key milestones for complying with the regulation that are of interest to financial institutions.

25/07/2024

Uncategorized

The 2024 King’s Speech – setting out a bold new direction under the new Labour government.

fscom Head of Capital Markets David Coolegem notes three clear takeaways from the King’s Speech that he feels are worth touching upon when looking through a financial services lens.

18/07/2024

Operational Resilience

FCA operational resilience: What you need to know and how to implement it

05/07/2024

Consumer Duty

The Consumer Duty: getting ready for the first board reports and the closed products deadline

The Consumer Duty – live for almost a year – sets clearer and higher standards of consumer protection, expecting firms to act to ensure good customer outcomes. The next two deadlines are fast approaching.

17/06/2024

Press release

fscom appoints David Coolegem as Head of Capital Markets

FSCom Limited, a leading specialist consulting firm providing governance, risk, and compliance (GRC) solutions to financial services institutions in the UK and Europe, today announced the appointment of David Coolegem as its new Head of Capital Markets

11/06/2024

Regulatory Update

A modernised Consumer Protection Code

In March of this year, the Central Bank of Ireland (CBI) published a consultation paper on its Consumer Protection Code. As the consultation phase draws to a close, we remind regulated providers of financial services, or those seeking authorisation to provide such services, to input into this process while it remains open.

30/05/2024

Fincrime

What firms need to know about proposed changes to the FCA Financial Crime Guide

The Financial Crime Guide is a key source of information and advice for regulated financial services firms under the Financial Conduct Authority’s supervision. The regulator has recently launched a consultation around a series of proposed changes to the guide. In this blog, we summarise some of the main takeaways from the consultation for UK companies.

23/05/2024

Asset Management

Interim update on FCA supervision of asset management and alternatives

In March 2024, the FCA published a “Dear CEO” portfolio letter updating previous letters from August 2022 and February 2023 covering the FCA’s alternatives supervisory strategy and asset management supervisory strategy. This blog summarises the update from the FCA.

21/05/2024

Asset Management

The essential guide to moving from being an AR to authorisation

An Appointed Representative (AR) is a person or company, permitted to carry on specific types of regulated financial activities under the licence of a Financial Conduct Authority (FCA) authorised firm, known as their ‘principal’. In this blog, we identify the main things ARs should consider before submitting their application.

09/05/2024

Press release

Payments sector diversity continues to improve, but rebalancing far from finished

fscom hosted the EWPN’s Ireland meetup in our Belfast office on 18 April. It was an empowering and engaging event that explored issues of gender diversity in the fintech industry and the issues women face when progressing in their career.

07/05/2024

Regulatory Compliance

With less than a month until the deadline, are you ready to meet the FCA’s anti-greenwashing rule?

In this blog, we give an overview of the anti-greenwashing rule and the FCA’s latest guidance, and offer advice to help UK financial services firms stay ahead of these developments.

02/05/2024

CASS Audit

Planning for your annual CASS Audit

In this blog, we identify the key steps investment firms should take to perform well in an audit, and to improve their overall confidence in safeguarding client money and assets.

26/04/2024

Funds and Asset Management

Avoiding Common Errors in FCA Authorisation: A Guide for Asset Management Firms

In our latest blog fscom explores the most common errors with recent asset management authorisation applications, as published by the FCA.

19/04/2024

Operational Resilience

Operational Resilience: How do we address the risks of Critical Third Parties in the UK financial sector?

In this blog, Senior Manager David Norton discusses the dependence on AWS, Microsoft and other global suppliers by financial services firms, and the struggle to manage this ‘over-reliance’ on critical third parties (CTPs) that are intrinsic to the entire UK financial sector.

20/03/2024

Consumer Duty

The Consumer Duty Annual reports: reporting to the Board and the Board’s report

In this blog, I will explore the type of information to be presented to the Board and, importantly, how the Board should respond. And, as per true, fscom-super-helpful style, we have two templates to share with clients and prospective clients alike.

15/03/2024

Press release

fscom expands asset and fund management offering with acquisition of FMConsult

fscom (www.fscom.co), the leading governance risk and compliance consultancy, has acquired FMConsult, the risk and compliance solutions provider to asset managers across the UK and Ireland. This acquisition accelerates fscom’s expansion into asset and fund management consolidating its position as a leading authority within the sector.

12/03/2024

Press release

fscom Recognised as FT’s Leading Management Consultants in 2024

In this press release, fscom is proud to announce its inclusion in the Financial Times UK’s Leading Management Consultants ratings for 2024.

29/02/2024

Capital Markets

Key Trends Facing the UK Capital Markets Sector in 2024

At our Q1 2024 Capital Markets Regulatory Outlook event, we heard from fscom’s CEO, Jamie Cooke, on the outlook for the industry and the challenges facing firms over the next 12 months. Key focus areas discussed on the evening included innovation and digital assets, sustainable finance, prudential regulation, wind–down planning and CASS, operational resilience, consumer duty and financial crime.

29/02/2024

Regulatory Outlook

2024 Regulatory Outlook Report: The Key Trends Shaping Ireland’s Payment and E-money Sector

This report brings together insights from an event where a number of experts from fscom, Fintech, banking and the broader financial services sector spoke on the key regulatory trends shaping the payments industry last month.

29/02/2024

Regulatory Outlook

The key trends shaping the UK payments and e-money sector

In this blog we bring together insights from an event where eight experts from fscom, Fintech, banking and the regulator spoke on the key regulatory trends shaping the industry last month. The fscom conference in London was attended by over 250 representatives from the payments and e-money sector.

29/02/2024

Banking

Key trends facing the banking sector in 2024

At our Q1 2024 Banking Regulatory Outlook event, we heard from fscom experts, Rick Seehra, Alison Donnelly and David Norton along with guest speaker, Aris Asimakis, CRO of CashPlus. Key focus areas discussed during the lunch included: Building effective relationships between financial institutions and the regulators; Operational resilience; Consumer Duty.

29/02/2024

Prudential Risk

Keeping the funds flowing: how should payment and e-money firms handle prudential risk?

In this blog, we consider the FCA’s expectations of how payment and e-money institutions should handle prudential risk.

27/02/2024

ICARA

Navigating ICARA: Key Priorities for Investment Firms in 2024

In this blog, fscom’s Director Rick Seehra helps firms understand how to develop their ICARA, from a compliance exercise, into a practical risk management tool that adds real value to their business.

22/02/2024

Safeguarding

Fixing the safeguarding regime to keep the money safe

Read our latest blog by Director and Head of Payments, Alison Donnelly, “Fixing the safeguarding regime to keep the money safe”.

20/02/2024

Safeguarding

CBI’s safeguarding expectations of payment and e-money institutions – a timely reminder

As the safeguarding deadline approaches for payment and e-money institutions in Ireland, this blog sets out the main takeaways from fscom’s safeguarding webinar held earlier this year.

19/10/2023

Cybersecurity

How to secure your information with ISO 27001

fscom’s cyber security experts Nick Gumbley and Will Finn recently held a webinar on how to use ISO 27001 to secure your company’s information.

24/11/2022

Cybersecurity

fscom continues expansion of Cyber Risk Team

fscom has announced its continued investment and expansion of its Cyber Risk Team with the recent appointment of Senior Manager, Will Finn.

21/07/2022

Cybersecurity, Operational Resilience

The building blocks of operational resilience for financial services firms

fscom’s experts in financial crime, cyber security and regulatory compliance offered their advice in a recent webinar.

09/12/2021

Cybersecurity

New Associate Director appointed to fscom’s Cyber Security team

fscom is delighted to expand its growing team with the appointment of a new Associate Director of Cyber Security, Nick Gumbley.

13/09/2021

Cryptoassets

What the Travel Rule means for cryptoasset transfers in the UK

In this blog, we summarise a recent Partners in finCrime Podcast episode on the new regulation, its impact on firms and their expert analysis of the Travel Rule.

21/09/2023

Cryptoassets

How To Conduct Crypto and Token Financial Crime Risk Assessments

In this blog, Chris Vaughan, explains how firms should carry out risk assessments to understand and mitigate the financial crime risk from cryptoassets and tokens.

04/07/2023

AML, Cryptoassets

AML in Crypto: A beginners Guide

Senior Compliance Associate, Chris Vaughan created a handbook that aims to be the go-to guide for financial crime compliance professionals of any level of seniority who are starting out in the world of cryptoassets.

12/04/2022

Cryptoassets, fscom Ireland

The 5th Money Laundering Directive – Transposition into Irish Law

The Criminal Justice Act (CJA) 2021 became effective on 23rd April 2021 with the transposition of the 5th Anti-Money Laundering Directive (5MLD) into Irish Law.

02/09/2021

Cryptoassets, Fincrime

UK Cryptoasset Registration – How To Best Prepare Your Firm

Crypto firms operating in the UK, prior to 10th January 2020, are required, in compliance with the 5th Anti-Money Laundering Directive (5MLD), to register with the FCA and be compliant with the MLRs 2017, as amended.

29/07/2021

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