Regulatory Wrap Episode #45: FCA Cracks Down on Illegal Financial Promotions
In Regulatory Wrap for the week to October 25, Jennie Clarke discusses regulatory views on finfluencers and their role in financial promotion.
FCA publishes first non-financial misconduct survey results
The results of the FCA’s first survey into instances of non-financial misconduct across the finance sector show that recorded instances of NFM have increased by more than two-thirds in three years
FCA interviews ‘finfluencers’ under caution: Did social media just get serious?
The Financial Conduct Authority is interviewing 20 finfluencers under caution, shortly after setting trial dates for nine others for promoting unauthorized trading schemes. With criminal proceedings on the horizon, are firms taking social media risk seriously?
Regulatory Wrap Episode #44: TD Bank Hit with $3 Billion Fine
In Regulatory Wrap for the week to October 18, Rob Mason discusses a record $3 billion fine against TD Bank for serious anti-money laundering (AML) failures.
Is the FCA’s “Name and Shame” approach here to stay?
While the FCA’s suggested shift towards a more transparent enforcement approach received substantial pushback from the finance industry, recent speeches by senior figures have indicated that “name and shame” is here to stay.
Regulatory Wrap Episode 43: The FCA’s “Kaizen” Approach
In Regulatory Wrap for the week to October 11, Jay Hampshire reflects on the FCA’s approach to enforcement as detailed in a recent speech.
TD Bank earns itself $3 billion fine for ‘placing profit over compliance’
A $3 billion dollar fine has been imposed upon TD Bank for anti-money laundering failings and violating the Bank Secrecy Act.
CFTC audio comms recordkeeping fine sounds the bell on voice capture
A CFTC fine against a firm for recordkeeping lapses related to audio messages across multiple platforms raises flags about both voice communications capture and data governance.
$118 million in SEC and CFTC fines continues off-channel comms crackdown
The pace of regulatory enforcement action for recordkeeping failures continues to increase, as both the SEC and CFTC issue more fines for off-channel communications breaches. But two cases reinforce the benefits of self-reporting and cooperation.
Regulatory Wrap Episode 42: The FCA’s WhatsApp Crackdown
In Regulatory Wrap for the week to September 27, Jay Hampshire considers the FCA’s future objectives after recent action concerning off-channel communications.
Regulatory Wrap Episode 41: $1.3M in SEC Fines & Citigroup’s Data Compliance Struggles
In Regulatory Wrap for the week to September 20, Jay Hampshire discusses another fine from SEC for recordkeeping failures in addition to other related data compliance concerns.