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How To Meet FCA Reporting Requirements (and Avoid Regulatory Action)

The Financial Conduct Authority (FCA) regulates over 58,000 financial services firms and financial markets in the UK. To do this effectively, the authority needs timely and accurate data from firms to identify malpractice and take appropriate action.

This is why the FCA’s reporting requirements exist—to ensure it has the information it needs to perform its role. It’s also why the FCA levies tough penalties on firms that fail to meet their reporting obligations.

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FCA Business Plan 2021/22 Focuses on ESG Risks and Market Abuse

The UK Financial Conduct Authority (FCA) 's 2021-22 Business Plan was published on 15 July 2021 and it sends an important message for firms and the market of the FCA going forward approach to enforcement actions.

It is clear that the FCA intends to be more aggressive and take an increasingly assertive approach in its enforcement activity in the coming year and innovate to tackle challenges yet to come in the future.

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Mastering Employees Certifications and Attestations

Financial services firms are among the most heavily regulated organizations worldwide.

From the FCA to FINRA to state-level legislators, financial services firms are subject to a web of compliance requirements and contractual obligations. Of course, it’s not enough to simply be compliant with these requirements—each firm has to prove it.

That’s where certifications and attestations come into play.

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Overview of FCA Principles for Business

The Financial Conduct Authority (FCA) is the conduct regulator for nearly 60,000 financial services firms and financial markets in the UK, and it's part of the FCA's work to implement, supervise and enforce international standards and regulations in the UK. The UK regulator has criminal, civil and regulatory enforcement powers.

In this article, we explain the FCA's 11 Principles for Business (PRIN), their purpose, how they are used to regulate the market in the UK, and the consequences of breaching the Principles.

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Time To Get Serious About SMCR in the Context of Climate Change

In April 2019, the Prudential Regulation Authority (PRA) sent a letter to CEOs highlighting its expectations for Boards of PRA regulated firms to understand and manage climate-related risks. The statement expects firms to allocate responsibility and appoint a Senior Management Function ("SMF") responsible for identifying and managing climate-related risks.

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