Compliance fines bite financial services firms

Compliance fines and regulatory lapses continued to bite financial services firms hard in 2022.  

The Financial Conduct Authority (FCA), the industry watchdog, posted over £215 million worth of fines on its website for 2022. Santander received the biggest Read more

Deadline for operational resilience imminent

The deadline for operational resilience measures mandated by the UK financial regulator the FCA is imminent.

From the end of March financial services firms must demonstrate they have a grip on operational risk in core services. The rules are Read more

European banks face mixed future

While the COVID-19 pandemic has given the world economy and unprecedented shock, Europe’s banks have weathered the initial impact relatively well, according to a report by the sector watchdog the European Banking Authority (EBA).

“Compared with the previous crisis, Read more

FCA keeps an eye on disappearing cash

With access to free cash disappearing from some highstreets, the UK regulator the Financial Conduct Authority (FCA) has issued fresh guidance to banks and financial institutions on the provision of ready money.

The regulator has told banks and building Read more

Banks must do better on ICT risk says ECB

Banks must do better on their management of critical ICT risks, according to a comprehensive survey by the European Central Bank. The results are likely to be replicated in other organisations as many sectors spend considerably less money Read more

New outsourcing governance for banks

The financial regulator the European Banking Authority (EBA) has set out a new governance framework for banks that outsource services, including those based in the cloud.

The new guidelines – Final report on EBA guidelines on outsourcing arrangementRead more

Bitcoin and crypto risks bubble up for 2018

Two thousand and eighteen will be the year that Bitcoin goes mainstream, according to IRM’s top picks for the major risks organisations face.

“Having had a meteoric rise in 2017 with an increase of nearly 1000% in price, Bitcoin Read more

Mifid II day of reckoning

The day of reckoning arrived for banks, brokers and asset managers this month as Mifid II finally came into force on January 3, 2018.

The Financial Instruments Directive II (Mifid II) – a wide-ranging set of rules that Read more