fscom News and Events

Webinar: Everything you need to know about drafting a winddown plan

[fa icon='calendar'] 12-Jun-2020 14:44:14 / by Alison Donnelly posted in FCA, Payment services

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fscom will be hosting a webinar on what should be included in a regulated firm’s winddown plan to help clients with the complex task of drafting their own. The webinar will be free to join and of interest to clients in the payments and e-money, cryptocurrency, banking and investment sectors.

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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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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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FCA issues statement on Covid-19

[fa icon='calendar'] 18-Mar-2020 16:54:52 / by Jamie Cooke posted in FCA, Payments sector, E-money sector, Covid 19

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In response to the Covid-19 situation, which saw many UK financial institutions enacting their contingency plans, the FCA issued a statement yesterday setting out their expectations on firms.   

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