fscom News and Events

How Will PSD2 Affect Charities - The Forgotten Sector

[fa icon='calendar'] 20-Apr-2018 14:35:58 / by fscom Team posted in PSD2, Compliance

[fa icon="comment"] 0 Comments

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 open banking presents. But what about the other industries affected by the new regulation? From the charities and even the accountancy firms that now fall under the FCA’s watchful eye? Have they been forgotten about amid the vicissitudes?

Read More [fa icon="long-arrow-right"]

Inside the Regulator: PSD2 Deadline Day

[fa icon='calendar'] 13-Apr-2018 08:26:20 / by James Borley posted in Compliance Assurance, fscom News, PSD2, E-money, FCA, Compliance, Payment services

[fa icon="comment"] 0 Comments

The third in my trilogy of PSD2 blogs from ‘Inside the Regulator’. However, as we are now entering uncertain and uncharted territory, in terms of firms that failed to submit applications for re-authorisation in time, my insights are more presumptive than previously.  

Read More [fa icon="long-arrow-right"]

PSD2 - a glimpse inside the Regulator

[fa icon='calendar'] 13-Mar-2018 14:20:11 / by James Borley posted in PSD2, E-money, FCA, Compliance, Payment services

[fa icon="comment"] 0 Comments

 

Much of our time is, and seems always to have been, spent trying to interpret exactly what the regulations or, more importantly, the Regulator is expecting. A leading question asked by many compliance officers is, 'what do they expect of my company?'. This is often where the compliance consultant comes in.

Read More [fa icon="long-arrow-right"]

Bringing Cryptocurrency To The Front Line: Who, What, Why & How?

[fa icon='calendar'] 12-Mar-2018 12:00:00 / by Karen Vickers posted in Compliance, 5MLD, cryptocurrency

[fa icon="comment"] 0 Comments

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 darker corners of the internet.

Read More [fa icon="long-arrow-right"]

Meeting the InfoSec demands of PSD2 and GDPR

[fa icon='calendar'] 31-Jan-2018 10:00:00 / by Greg James posted in PSD2, E-money, Compliance, Payment services, GDPR, FINTECH

[fa icon="comment"] 0 Comments

Read More [fa icon="long-arrow-right"]

MiFID II: stay focussed and keep perspective

[fa icon='calendar'] 02-Jan-2018 22:08:06 / by Alison Donnelly posted in FCA, Compliance

[fa icon="comment"] 0 Comments

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 tomorrow (3 January 2018) – some four and a half years after first being approved by the Council of the European Union (and after a year-long delay intended to allow for the development of the complex technical infrastructure required by firms for compliance with the incoming changes).

Read More [fa icon="long-arrow-right"]

PSD2 spells the end of surcharges

[fa icon='calendar'] 22-Dec-2017 15:16:41 / by Alison Donnelly posted in PSD2, E-money, Compliance, Payment services

[fa icon="comment"] 0 Comments

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. Such hidden surcharges will be a thing of the past, mostly, come mid-January when the second Payment Services Directive (PSD2) is implemented.

Read More [fa icon="long-arrow-right"]

Improving the UK's payment systems

[fa icon='calendar'] 20-Nov-2017 09:53:52 / by Alison Donnelly posted in E-money, Compliance, Payment services

[fa icon="comment"] 0 Comments

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 inspirational and indefatigable, Anne Pieckielon, Director of Product and Strategy at bacs.

Read More [fa icon="long-arrow-right"]

Trouble in paradise? The AML failings of the Paradise Papers leak

[fa icon='calendar'] 16-Nov-2017 16:35:36 / by Stephen Stewart posted in Compliance, Risk Assessments

[fa icon="comment"] 0 Comments

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 the Paradise Papers – from the International Consortium of International Journalists (ICIJ).

Read More [fa icon="long-arrow-right"]

FCA focus on CF10 personal responsibility

[fa icon='calendar'] 22-Sep-2017 11:28:28 / by Alison Donnelly posted in E-money, Compliance, Payment services

[fa icon="comment"] 0 Comments

 

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 Conduct Authority (FCA) this summer. One holder of the compliance function (the CF10), was fined £75,000 for failing to exercise due skill, care and diligence in performing his compliance oversight role. The other, a would-be compliance officer, had his application for CF10 and the money laundering reporting function (CF11) refused on the grounds of ‘competence and capability’.

Read More [fa icon="long-arrow-right"]