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NEWSLETTER: We’re in the final stretch before switching off for a well-earned Christmas break.
This month marks the fifth anniversary of SMCR. While the operational aspects remain under review, the intent to drive accountability and good conduct will always be a central function of the regime. Here and now, there are still plenty of areas that continue to trip firms up, which the team look at in more detail.
The FCA’s latest Market Watch focuses attention on transaction reporting. With enforcement action high on the regulator’s agenda, firms are reminded to scrutinise their systems and controls to avoid being caught out.
In the payments space, the regulator has published its final guidance, giving firms the authority to delay transactions when fraud is suspected, and addressing the interaction between these rules and broader obligations such as Consumer Duty. Even with greater clarity on expectations, there’s still plenty of operational questions to grapple with, and we’re supporting our clients to work through the detail.
Finally, following our successful GRC writing competition with Risky Women, we’re delighted to feature some of the standout articles. ‘Making a difference: How GRC enables meaningful work’ and ‘Evolution of female leadership in risk management and compliance’ are both timely, thought-provoking reads as we look towards the future.
Rebecca Thorpe, Global Head of Regulatory Consulting and Aron Brown, Global Head of Regulatory & Compliance
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