fscom News and Events

Rachel Stevenson

Rachel Stevenson
Senior Compliance Associate, Advisory

Recent Posts

Dear CEO: Safeguarding attestation required by 31 July 2019

[fa icon='calendar'] 08-Jul-2019 10:39:45 / by Rachel Stevenson posted in E-money, payments, Regulatory compliance, safeguarding

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On the 4 July 2019, the FCA released a ‘Dear CEO’ letter that addressed both the positive and negative practices of non-bank Payment Service Providers (“PSPs”) as they seek to comply with their obligations to safeguard customers’ funds. The FCA identified a number of failings in the safeguarding processes of the 11 PSPs it reviewed over a six-month period and has set out mandatory actions for PSPs.

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Complaints handling - what does good look like?

[fa icon='calendar'] 29-Aug-2018 16:30:49 / by Rachel Stevenson posted in Regulatory compliance, Payments sector, E-money sector, Training

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ESMA's temporary product intervention decisions: NDFs

[fa icon='calendar'] 03-Aug-2018 15:54:59 / by Rachel Stevenson posted in MIFID II, Trading and Broking sector

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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 regulated products and overnight were reclassified as contracts for difference (CFDs). Any FX brokers that wished to continue offering NDFs were forced to apply to the FCA to obtain the relevant investment firm regulatory permissions in order to continue providing the same range of FX products they had always offered their clients.

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Got a complaint about a payment service?

[fa icon='calendar'] 08-Jun-2018 11:35:10 / by Rachel Stevenson posted in Regulatory compliance, Payments sector, Training

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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 services directive (PSD2) have been somewhat overlooked. One of these changes relates to complaint handling.

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PSD2 and MiFID II briefing events

[fa icon='calendar'] 01-Sep-2017 09:27:28 / by Rachel Stevenson posted in PSD2, MIFID II, Training

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We will be explaining everything payment and e-money institutions need to know about getting re-authorised under PSD2 and the impact of MiFID II on fx forward business in two separate briefings on 12 September. 

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