A suite of topical Learning Cards designed to promote awareness around topical compliance issues.
-
Artificial Intelligence (AI) for the front and back office staff
AI allows machines to mimic the human mind, enabling them to rationalise and take actions to achieve a specific goal. This article focuses on the use of AI in financial services, governance and oversight, and the potential risks associated with... -
Domestic PEPs for the front and back office
In the wake of the recent Nigel Farage/Coutts de-banking controversy, the FCA has announced that it is reviewing the treatment of domestic Politically Exposed Persons (PEPs) by financial services firms. The review, which will consider the issue in the context... -
Trade Based Financial Crime (TBFC) for frontline and operations staff
For frontline and operations staff working in trade finance, identifying, assessing and mitigating trade risk is a vital and often complex task. To facilitate this, here are three broad areas of focus with some relevant questions to share with your... -
Non-financial misconduct for front and back office staff
The term ‘non-financial misconduct’ is not formally defined in the FCA Handbook but, instead, has been used by the regulator to describe a range of behaviours including discrimination, bullying, sexual harassment, and criminal behaviour (both inside and outside the workplace).... -
Conduct rules update for your front and back office staff
On 31 July 2023, the FCA's new Consumer Duty comes into force and a new Conduct Rule will be added. The Duty applies to firms that determine or have a material influence over retail customer outcomes. It therefore applies to... -
AML compliance failures and raising awareness across your firm
Anti-money laundering, terrorist financing and proliferation financing remain a key priority for regulators across the globe. Download and share this learning card across your firm to remind employees of common themes that arise across enforcement cases, and what can be... -
Understanding the risks associated with proliferation financing
Give your staff insight into the potential risks associated with proliferation financing. Download this focused card to share across your firm. Proliferation financing is the provision of funds or financial services to support the illegal proliferation of weapons of mass... -
The importance of a compliance culture in financial services
Financial services regulators place significant focus on the culture of the firms they supervise. They want to see a healthy compliance culture, where business is done in the right way, bringing about positive outcomes for customers. A strong compliance culture... -
Understanding data protection in financial services
In January 2023, Meta (the owner of Facebook and Instagram) was fined €390 million by the Irish privacy regulator for breaking EU data protection rules. Whilst Meta plans to appeal the fine, it is an important example of how costly... -
Identifying and managing conflicts of interest
In March 2022, the FCA fined GAM International Management £9m for failing to manage conflicts of interest in relation to its dealings with Greensill Capital. The FCA also fined one of its former investment managers £230k for failing to declare... -
Why are complaints important in financial services?
Financial services firms are typically subject to specific regulatory obligations in relation to how they handle client complaints. Here are four key reminders to share with staff across your firm as to why complaints are important. -
Understanding the impact of the new Consumer Duty
The impact of the FCA’s Consumer Duty initiative will be significant for firms that are involved in the distribution and/or manufacture of products and services to retail customers. In the FCA’s own words: “Be in no doubt: the Duty will...