Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence Season 7, Episode 5: The UK enforcement outlook for 2023
Feb 23, 2023
20:19
This episode of Compliance Clarified looks at the UK enforcement outlook for 2023 and, notably, the work of the Financial Conduct Authority (FCA). Change is in the air with the arrival of Ashley Alder as chairman from Hong Kong's Securities and Futures Commission and the upcoming departure this spring of Mark Steward, the FCA's long-serving enforcement director.
In this episode, Alexander Robson, managing editor, is joined by Rachel Wolcott and Lindsey Rogerson, senior editors in London, to consider the likely impact of the FCA's work on compliance professionals this year.
The regulator has had a busy start to 2023, completing historic enforcement actions and imposing big fines for infractions of anti-money laundering rules, as well as filing criminal charges in an alleged insider dealing and money laundering case. Steward would surely like to complete as many cases as possible before he goes, particularly the ones started under his watch.
Programme notes:
OUTLOOK 2023 - Financial Services and Markets Bill to set stage for post-Brexit financial regulation, new FCA chair and enforcement head arrive (paywall): https://regintel.thomsonreuters.com/#ri/resolve/shorturl/%7B%22shortUrl%22%3A%22Krs7La%22%7D
First statutory notice Campbell and Associates Independent Financial Advice Limited: www.fca.org.uk/publication/supervisory-notices/first-supervisory-notice-campbell-associates-independent-financial-advice-limited-2023.pdf
Details of the ClientEarth judicial review of the Financial Conduct Authority: www.reuters.com/business/energy/uk-watchdog-faces-lawsuit-climate-group-over-energy-company-prospectus-2023-02-16/
Saranac (Tom Kalaris) decision notice: www.fca.org.uk/publication/decision-notices/saranac-partners-limited-2022.pdf
OPINION: Money laundering fines for Guaranty and Al Rayan: examples of warnings going unheeded (paywall): http://go-ri.tr.com/Jf43y4
The "Compliance Clarified" podcast series covers the wide range of topics which affect compliance at financial services firms, and it aims to help compliance officers make sense of the often-challenging regulatory environment.
Compliance Clarified covers the big challenges of the day and offers practical ideas for emerging good practice.
In this episode, Alexander Robson, managing editor, is joined by Rachel Wolcott and Lindsey Rogerson, senior editors in London, to consider the likely impact of the FCA's work on compliance professionals this year.
The regulator has had a busy start to 2023, completing historic enforcement actions and imposing big fines for infractions of anti-money laundering rules, as well as filing criminal charges in an alleged insider dealing and money laundering case. Steward would surely like to complete as many cases as possible before he goes, particularly the ones started under his watch.
Programme notes:
OUTLOOK 2023 - Financial Services and Markets Bill to set stage for post-Brexit financial regulation, new FCA chair and enforcement head arrive (paywall): https://regintel.thomsonreuters.com/#ri/resolve/shorturl/%7B%22shortUrl%22%3A%22Krs7La%22%7D
First statutory notice Campbell and Associates Independent Financial Advice Limited: www.fca.org.uk/publication/supervisory-notices/first-supervisory-notice-campbell-associates-independent-financial-advice-limited-2023.pdf
Details of the ClientEarth judicial review of the Financial Conduct Authority: www.reuters.com/business/energy/uk-watchdog-faces-lawsuit-climate-group-over-energy-company-prospectus-2023-02-16/
Saranac (Tom Kalaris) decision notice: www.fca.org.uk/publication/decision-notices/saranac-partners-limited-2022.pdf
OPINION: Money laundering fines for Guaranty and Al Rayan: examples of warnings going unheeded (paywall): http://go-ri.tr.com/Jf43y4
The "Compliance Clarified" podcast series covers the wide range of topics which affect compliance at financial services firms, and it aims to help compliance officers make sense of the often-challenging regulatory environment.
Compliance Clarified covers the big challenges of the day and offers practical ideas for emerging good practice.