<img src="https://ws.zoominfo.com/pixel/EK6Js72UOW761O6mLa8g" width="1" height="1" style="display: none;">

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.

Read More

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.

Read More

Singapore: MAS Guidelines on Individual Accountability and Conduct

The Monetary Authority of Singapore (MAS) released its guidance on the 10th September 2020 on the five high-level outcomes that financial institutions should achieve on individual accountability and conduct.

Read More

MCO Launches Software for SMCR and Similar Regulations

Role assurance regimes and regulatory guidelines on individual accountability such as the SMCR are part of a global trend to support a change in culture at all levels of financial services. MCO recently launched its award-winning Role Monitoring and Assurance (RMA) module to help firms comply with SMCR and similar regulations. 

Read More

What Spooked Compliance Officers this year

2020 has been a scary year and there have been a few things that have spooked the most experienced compliance officer. Covid-19 compliance, regulatory updates and deadlines,  and a few large fines and sanctions haunted firms throughout the year. In this blog, we share our thoughts about recent events that unnerved normal compliance operations and should be considered as we move towards 2021.

Read More