fscom News and Events

The FCA's Financial Resilience Survey

[fa icon='calendar'] 08-Jun-2020 16:42:37 / by Colin Sloan posted in E-money, FCA, Payment services, Covid 19, financial resilience, capital adequacy

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As we enter our 12th week of lockdown, the FCA has begun a process to obtain regular, specific data from a substantial number of firms to better predict the vulnerability of financial services firms, and thereby the impact on consumers. E-money issuers, payment service providers, CFD providers, advisers and intermediaries are among the targeted sectors and emails advising those selected for the first batch have already arrived with our clients. In this blog I will explain what the FCA is looking for and what you should be doing.  

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FCA consultation on safeguarding and capital adequacy guidance

[fa icon='calendar'] 02-Jun-2020 17:25:40 / by Alison Donnelly posted in E-money, FCA, Payment services, safeguarding, Covid 19

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Payment and e-money institutions have long called for clearer guidance on the FCA’s expectations of how they meet their obligation to protect customers’ funds. Friday week ago, the FCA issued a consultation on temporary guidance they wish to put in place on safeguarding and capital adequacy ‘in light of the exceptional circumstances of the coronavirus pandemic’.  

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The Digital Workplace: more than just digitising your services

[fa icon='calendar'] 28-May-2020 13:22:46 / by Philip Creed posted in E-money, Payment services, Covid 19

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How We Are Managing Our Mental Health in fscom

[fa icon='calendar'] 22-May-2020 12:15:13 / by Brona Cathcart posted in fscom, Covid 19

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Handling Complaints and Vulnerable Customers in COVID-19

[fa icon='calendar'] 13-May-2020 16:17:19 / by Rachel Stevenson posted in Payment services, Complaints, Payments sector, Covid 19

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SM&CR – The Regulators’ Expectations of Firms

[fa icon='calendar'] 08-Apr-2020 15:05:20 / by Jamie Cooke posted in E-money, FCA, Payment services, Covid 19

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The FCA last week published a statement in which they set out their expectations of solo-regulated firms operating under the ongoing strain of COVID-19. While emphasising the need for ever-adaptive governance arrangements in the face of an evolving challenge, the FCA have clarified that no single Senior Manager is expected to assume responsibility for a firm’s coronavirus response. In addition to this and regarding dual-regulated firms, a joint statement released by the FCA in collaboration with the PRA demonstrated the regulators’ intention to assume a more flexible approach under the current circumstances.

 

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Is your zoom video conference as private as you think?

[fa icon='calendar'] 02-Apr-2020 14:44:57 / by Simon Whittaker posted in Cybersecurity, Covid 19

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With my NICyber hat on last week I helped run a webinar about the new challenges facing us all in this new normal that we now find ourselves. In this post, I will share some additional thoughts about some best practices for video and screensharing tools.

 

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Homeworking – top tips for adapting to the shift in workplace dynamics

[fa icon='calendar'] 30-Mar-2020 14:08:47 / by Brona Cathcart posted in fscom News, Company news, Covid 19

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fscom’s Head of People, Brona Cathcart shares her insights into how the fscom team have been adapting to the shift in workplace dynamics over the past two weeks and her top tips for a productive and connected workforce.

 

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Bank of England announces supervisory and prudential policy measures to address the challenges of Covid-19

[fa icon='calendar'] 25-Mar-2020 10:40:57 / by Jamie Cooke posted in Payments sector, E-money sector, Covid 19, Investments

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As a result of the unprecedented Covid-19 outbreak, The Bank of England (BoE) and Prudential Regulation Authority (PRA) have announced several measures seeking to reduce potential operational stresses on both PRA-regulated firms and Bank-regulated financial market infrastructures to allow them to continue providing crucial functions essential for the economy.

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Capital Stress Testing

[fa icon='calendar'] 19-Mar-2020 12:50:37 / by Colin Sloan posted in Payments sector, E-money sector, Covid 19

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I delivered a training session on capital adequacy last week. The irony of delivering the session on the cusp of such a capital-stressful situation was clear to all in the room and many subsequent conversations focused on the steps that these payment and e-money institutions were, and would be, taking to deal with the crisis.

In a blog last week, our Managing Director, Jamie Cooke, commented on the business continuity measures that firms should take in light of the pandemic. In this post, I will set out what payment and e-money institutions are doing (and should be doing) as they brace for the pandemic.

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