Consumer Duty - what we have learn't and what to expect.
FinTech Compliance Blog
by Simon Hill
1M ago
You're just a click away from booking a FREE consultation with one of our knowledgeable consultants. We can questions answer your questions and put your mind at ease ..read more
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The FCA asked you to withdraw your licence application. What now?
FinTech Compliance Blog
by kyteekstrom
2M ago
In the financial year ending March 2023, the FCA rejected 24% of applications for authorisation. To put that into context, that's almost 1 in every 4 applications. The previous year the FCA rejected 1 in 5 applications, and the year before that (2020/21) 1 in 14 applications.  Obtaining an FCA licence has never been a simple process, and nor should it be. There is a plethora of information, policies, processes etc which need to be taken into account. So much, that it can be quite common to trip up or miss something. In the instance where the FCA doesn't feel your application is up t ..read more
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10 Key Points to Stay Compliant - before publishing social media financial promotions
FinTech Compliance Blog
by kyteekstrom
3M ago
In case you missed it, the FCA has now published its finalised guidance (FG24/1) clarifying expectations of firms and others, such as affiliates and influencers, communicating financial promotions on social media. The FCA originally consulted on this back in July 2023, citing that social media has become an increasingly vital part of firms’ marketing strategies, allowing them to reach a mass audience at increasing speed and frequency. The FCA has expressed concern over poor quality financial promotions leading to significant consumer harm due to their wide reach and the complex nature of f ..read more
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5 Common Regulatory Compliance Problems - and their solutions
FinTech Compliance Blog
by Simon Hill
5M ago
When it comes to regulatory compliance, 5 main issues rear their ugly heads time and time again. We thought we'd share them with you so you can tick them off your compliance check list. If your compliance management is more treading water than smooth sailing, we've included some compelling reasons why you should pick us to help you stay on top of your compliance a-game. https://video.wixstatic.com/video/6f3425_96a3007850564df8ada750172a964781/360p/mp4/file.mp4 1. Incomplete or Outdated Policies and Procedures The problem: Many financial institutions struggle with maintaining up-to-date po ..read more
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Consumer Duty - does your 'Implementation Plan' fit the FCA's criteria?
FinTech Compliance Blog
by Yhan Roger Rizet
1y ago
If the FCA checked on your firm today, would your 'Implementation Plan' fit their criteria? Will your firm be affected by the new Consumer Duty Rules? If so, to what extent? In this newsletter Yhan Roger Rizet, Trainee Compliance Associate at FinTech Compliance, explores the level of expectations your firm faces, what and who are exempt, and the measures you should have in place before the October deadline. The FCA’s expectations will apply differently (both flexibly and dynamically) to new products, services, and business models as they continue to emerge and develop in an ever changing and ..read more
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Operational Resilience & Third Party Providers - Are you Resilient Enough?
FinTech Compliance Blog
by kyteekstrom
1y ago
Michael Walford-Williams, Managing Director at Westbourne, a risk management consultancy for the financial services and finTech industry, examines the relationship between Financial Services and the Cloud, actions the regulators are taking, what this means for FinTech firms, and what FinTech's that are reliant on third party providers (especially Cloud Service Providers) can do to improve and fulfil the regulators obligations. The UK regulators have now recently outlined their expectations for Operational Resilience of third parties, including Cloud Service Providers. This leaves many FinTech ..read more
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