Blog
Open Banking; not just for banks
How is your business preparing for Open Banking? According to a HM Treasury paper published earlier this month, Open Banking has the potential to ‘boost UK
“Mirror, Mirror on the wall, who is the fairest (regulator) of them all?”
For some, Brexit may still seem like something out of a fairy tale but, whether you are for or against, it will become a reality
ESMA’s temporary product intervention decisions: NDFs
The implementation of MiFID II in January triggered a significant change in the blanket treatment of FX forwards in the UK and, as a result, non-deliverable forwards (NDFs) became
Request for data deletion: is it for legitimate reasons?
At what point does empowering individuals to be ‘masters of their own personal data destiny’ encroach on a payment service provider’s legal responsibility to prevent
What the FCA really wants from e-money and payment institutions
With the vast majority of e-money and payment institutions successfully re-authorised, let’s take a look at how the FCA intends to monitor this growing population
Got a complaint about a payment service?
With all the excitement around re-authorisation, the ban on credit card surcharges and the new payment services activities, the less headline grabbing regulatory changes introduced by the second payment
Alison Donnelly Scoops Top AML and Payments Services Awards
We are delighted to announce that Alison Donnelly, Director and Head of Advisory at fscom, has recently been awarded not only one, but two top
Introducing the New Payment Systems Operator
In a previous blog post, I took a look at the upcoming access changes to the UK’s RTGS system (the Clearing House Automated Payment System) and,
How Will PSD2 Affect Charities – The Forgotten Sector
There has been a lot of talk in the financial sector surrounding the topic of PSD2; flagging deadlines, the implications of non-compliance and the opportunities
GDPR: separating fact from fiction
GDPR Fines! GDPR Fines! GDPR Fines! The war cry of solicitors and tech consultants across Europe for the past year has become so loud that
PSD2 – further inside the regulator
Drawing on my experience of heading up the Payment Services Authorisations Team at the FCA for many years, I spoke last week about the FCA’s expectations
Bringing Cryptocurrency To The Front Line: Who, What, Why & How?
When we hear the word ‘cryptocurrencies’, three fixations tend to pop up; price volatility, anonymity and, perhaps most of all, its enduring association with the
How are the third party providers (TPPs) faring under PSD2?
It’s been five months since the FCA’s doors opened to applications from the new payment service providers, often referred to as third party providers (TPPs),
fscom Appoints New Head of Marketing
fscom is delighted to announce its appointment of Elaine Tighe as our new Head of Marketing. Elaine brings with her over 17 years of marketing
Comply or Die: How compliance audits can help FinTechs survive
‘Compliance’ is the watchword in financial services, perhaps more now than ever. With new rules and regulations being introduced across Europe, most notably 4MLD, MiFID
A new year; a new payments landscape?
To some, 13 January and the implementation of the second Payment Services Directive (PSD2) will be a significant milestone in their business’s path. They will
MiFID II: stay focussed and keep perspective
The second Markets in Financial Infrastructure Directive (MiFID II), and its accompanying regulation the Markets in Financial Infrastructure Regulation (MiFIR), are set to take effect
PSD2 spells the end of surcharges
When does a great deal turn out to be not such a great deal? When a credit card surcharge is added right at the end.
The RTGS game changer for payment and e-money institutions
Following on from my previous blog post, where I looked at the UK’s current and future payments architecture, one of the most interesting developments identified at the Project
Improving the UK’s payment systems
Last week, Project Regulator, which I lead on behalf of the Emerging Payments Association, hosted a special briefing on the new payments architecture organised by the
Trouble in paradise? The AML failings of the Paradise Papers leak
If you’ve been following the news over the past week or so you’ll no doubt be aware of the latest dossier on leaked information – titled
PSD2 questions and answers
The gateway for PSD2 applications opens today. About 500 authorised payment institutions and e-money institutions and 150 payment initiation and account information service providers are
3 Approaches FinTechs Are Using to Create a Competitive Advantage
Tomorrow I’ll have the pleasure of introducing some of the most dynamic payments and e-money businesses from around the world, when I chair the one
GDPR: business headache or business opportunity?
If you are a CEO, board member or otherwise involved in delivering a business strategy or IT you probably feel like you are walking around
Suspicious Activity Reports – The Importance of Getting it Right!
“Enforcement agencies are struggling with significant numbers of low quality reports and criminals could be slipping through the net.” In 2019, the England and Wales
FCA focus on CF10 personal responsibility
The competence and capability expected of holders of the compliance function has been brought into sharp focus by two final notices issued by the Financial
The common pitfalls and failures of AML risk assessments
Risk assessments have been a part of the EU Anti Money Laundering landscape for some time now and while 4MLD brought to the fore the need
There’s an ICAAP to fit everyone; so wear it!
Last year, the FCA sent a ‘Dear CEO’ letter about ICAAP. For those who don’t know, the ICAAP is a process a firm follows to assess
Latest EU AML risk assessment reviewed
As part of the EU commitment to improving AML controls, the European Commission and its individual member states are required to produce regular reports on the
PEPs, Sanctions and Laundromat Scandals…
Last year saw an unwelcome re-emergence of the so-called ‘laundromat’ scandal; the term, which harks back to the dry-cleaning establishments into which Al Capone and
