Blog
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The Kalifa Review – What It Means for UK Fintech and The Fight Against Financial Crime.
The Kalifa review, commissioned by the HMT sets out a strategic plan for the UK to remain a world class centre in fintech. Earlier this
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Vulnerable Customers: FCA publishes new guidance on firms’ responsibilities
In this blog, Dipesh Patel discusses the FCA’s finalised guidance on firm’s responsibilities to ensure they are treating vulnerable customers fairly. With 27.7 million adults in the
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Q&A of a Q&A: A breakdown of the EBA’s recent SCA opinions
n this blog, Greg James simplifies the questions and answers provided by the EBA in their seven new Q&As on strong customer authentication and helps
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6AMLD – What are the key changes to the Sixth Anti Money Laundering Directive?
In this blog, Fred McDowell, Senior Manager within the fincrime team in fscom, outlines the key changes in the 6th Anti Money Laundering Directive (6AMLD) and
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BRIEFING: The UK Investment Firm Prudential Regime (IFPR)
In mid-December, the FCA issued a consultation paper (CP20/24) in which it set out the basis for the rules it intends to apply to the prudential requirements
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Payments, financial resilience and wind-down plans
Yesterday, the FCA published survey results that will not have surprised many in the sector. As at the end of October 2020, 4,000 financial service
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New insolvency regime for payment and e-money institutions
Yesterday HM Treasury issued a consultation on a proposed special administration regime for insolvent payment and e-money institutions. Speed is clearly of the essence for
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A simple guide to certifying staff under SM&CR
Within this blog, fscom’s Managing Director, Jamie Cooke discusses SM&CR, the revised timelines and shares a simple guide to certifying staff under the Senior Manager
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fscom achieves globally recognised certification, ISO 27001 for best practice in information security.
fscom achieves ISO 27001, demonstrating its unwavering commitment to enhancing the security of its information as we continue to work in the new ‘virtual reality’
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Supercapital – What happens when a payment (or e-money institution) becomes insolvent?
Safeguarding is an area that raises many points of debate and contention within the industry. And having assisted dozens of payment and e-money institutions with
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Dear CEO Investment Firm Letter
For most financial services firms it is probably fair to say that the second week of August is not the most productive week of the
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‘Smile’ and bear it: operational resilience and the Co-operative Bank
In this blog, Simon Whittaker and Greg James discusses the recent outages faced by Smile, an online banking service offered by the Co-operative Bank. The
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FCA Announces Wind-down Plan Requirements
The FCA has, yesterday, told payment and e-money institutions that they must produce wind-down plans (WDP) as a condition of authorisation. The move is the
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FCA: temporary prudential guidance for payment and e-money institutions
The FCA has, yesterday, published temporary guidance for payment and e-money institutions on how to safeguard and manage their prudential risks. The guidance was consulted on in
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Does your business deal in crypto? Priority cryptoasset registration applications deadline fast approaching
The 30 June deadline for crypto asset applications to receive a priority review from the FCA is fast approaching. As you may be aware, cryptoasset
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Webinar: Everything you need to know about drafting a winddown plan
fscom will be hosting a webinar on what should be included in a regulated firm’s winddown plan to help clients with the complex task of
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The FCA’s Financial Resilience Survey
As we enter our 12th week of lockdown, the FCA has begun a process to obtain regular, specific data from a substantial number of firms to
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FCA consultation on safeguarding and capital adequacy guidance
Payment and e-money institutions have long called for clearer guidance on the FCA’s expectations of how they meet their obligation to protect customers’ funds. Friday week ago, the FCA
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How We Are Managing Our Mental Health in fscom
fscom’s Head of People, Brona Cathcart shares her insights into how the fscom team have been getting on with looking after their mental health as
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Handling Complaints and Vulnerable Customers in COVID-19
With the full impact of the COVID-19 pandemic yet to be seen, financial services institutions have had to implement business continuity plans, introduce remote working
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Senior NI business leaders to take part in UK Fintech Week Webinar
HM Treasury appointed Fintech Envoy for Northern Ireland, Andrew Jenkins, is set to host a webinar with local senior industry and academic leaders as part
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Cross Border Payments Regulation 2
With words and phrases such as “pandemic”, “furlough” and “business continuity measures” at the forefront of minds at the moment, firms may have missed that the
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Back to Brexit: Temporary Permissions Regime for EEA firms – Your Key Questions Answered
Brexit talks, which had been postponed due to the pandemic, are to be reconvened today with European Union and British negotiators attempting to salvage the
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SM&CR – The Regulators’ Expectations of Firms
The FCA last week published a statement in which they set out their expectations of solo-regulated firms operating under the ongoing strain of COVID-19. While
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Is your zoom video conference as private as you think?
With my NICyber hat on last week I helped run a webinar about the new challenges facing us all in this new normal that we now find
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Homeworking – top tips for adapting to the shift in workplace dynamics
fscom’s Head of People, Brona Cathcart shares her insights into how the fscom team have been adapting to the shift in workplace dynamics over the
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Bank of England announces supervisory and prudential policy measures to address the challenges of Covid-19
As a result of the unprecedented Covid-19 outbreak, The Bank of England (BoE) and Prudential Regulation Authority (PRA) have announced several measures seeking to reduce
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Capital Stress Testing
I delivered a training session on capital adequacy last week. The irony of delivering the session on the cusp of such a capital-stressful situation was
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FCA issues statement on Covid-19
In response to the Covid-19 situation, which saw many UK financial institutions enacting their contingency plans, the FCA issued a statement yesterday setting out their expectations on firms. There
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Safeguarding the customers’ money
Crown Currency Exchange, a business based in Cornwall that sold currency mainly to consumers for holiday spending but was also a small payment institution, collapsed