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| UK & Europe

Rachel Reeves’ first Mansion House speech suggests change in approach to regulation

During her first Mansion House speech as chancellor, Rachel Reeves said that the government’s approach to regulation would be a critical part of its aim to grow the UK’s economy.…

| UK & Europe

UK Newsletter | October 2024

NEWSLETTER: Hot on the heels of the UK budget, our Ocorian colleagues have been sharing some of their initial reactions, including implications for those with res non-dom status. As we continue…

| UK & Europe

FOS H1 2024 data highlights 40% increase in complaints

The Financial Ombudsman Service has published it’s most recent bi-annual complaints data (January 2024 to June 2024), showing the volume of complaints received from various sectors and the outcome following…

| UK & Europe

Bullying, harassment, and discrimination key pain points in FCA’s NFM survey

The FCA has published the results of a survey covering investment banks, brokers, and insurance firms which found an increase in misconduct allegations between 2021 and 2023. The most prevalent…

| UK & Europe

Wealth manager letter: insights into avoiding misconduct and protecting consumers

Readers of the FCA’s Dear CEO letter to wealth managers and stockbrokers (sent in November 2023) will note a distinct shift in the FCA’s tone. This was the regulator in…

| UK & Europe

Eight benefits of outsourcing a Nominated Officer role in Guernsey

Outsourcing key regulatory roles, can provide significant advantages to financial institutions. One such role that could be considered is the Nominated Officer. A Nominated Officer’s primary role is to assist…

| UK & Europe

SDR implementation: Overcoming the hurdles

Since the FCA Sustainability Disclosure Requirements and Investment Labels, or SDR, came into force, important questions have been raised on the practical implementation of the regime. So far, we’ve seen…

| UK & Europe

Expecting the unexpected: The importance of a wind down plan

Regulated firms need to consider and model an orderly wind down plan. This is different to an insolvency, where firms are in financial distress and don’t have adequate financial resources…

| UK & Europe

FCA issues £5.4m fine over treatment of customers

The FCA has imposed a significant fine of £5.39 million on Volkswagen Financial Services (UK) Limited (VWFS) for failing to treat customers in financial difficulty fairly. The Final Notice, published…

| UK & Europe

What should your compliance priorities be to stay operationally resilient?

Over the last year, UK firms are facing much greater challenges, both on an international scale and closer to home. From global uncertainties, the impact of global warming to the…

| UK & Europe

Premium finance market study launched by FCA

The FCA has announced a comprehensive review of the premium finance market. This comes amid growing concerns about rising insurance prices and the launch of the Government’s motor insurance taskforce.…

| UK & Europe

What lessons can be learnt from recent public statements in Guernsey and Jersey?

Undertaking regulated activities in business is not without reputational and financial risk for both firms and key individuals alike, and there is a continual need to ensure compliance with the…
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