The Compliance Doctor

The main document, thoroughly examines the provisional agreement for the European Union’s  Payment Services Regulation (PSR)  and  Third Payment Services Directive (PSD3) . This regulatory shift introduces a  "fraud liability revolution"  by dramatically increasing the financial responsibility of Payment Service Providers (PSPs) for fraud losses, especially those resulting from impersona...

The podcast outlines significant amendments and guidance concerning  payment services and electronic money institutions  within the UK, primarily focusing on  strengthening consumer protection and market integrity . Key changes include a  revised safeguarding regime for relevant funds , detailing how these funds must be held and protected, particularly in the event of a firm's failure, and int...

Financial Conduct Authority's (FCA) intention to  consult on a compensation scheme  for motor finance customers who were subject to unfair practices. This initiative stems from a  detailed review and a Supreme Court ruling  that identified instances where lenders acted unlawfully due to undisclosed commission payments to car dealers. The FCA aims to establish an  industry-wide scheme  to ensur...

One document details a  compliance consultancy's offerings, including FCA authorisation, benchmark audits, training, and tailored advice , highlighting their expertise in helping businesses navigate complex financial regulations and avoid penalties. The second source, a  policy statement from the Financial Conduct Authority (FCA) , announces new, more flexible rules for  mortgage advice, affor...

The Financial Conduct Authority (FCA) has published a revised Enforcement Guide (ENFG) and associatedinstruments, which come into effect on 3 June 2025. This revision incorporates feedback on earlier proposals and aims to provide greater transparency regarding enforcement investigations. Key changes include a revised publicity policy for investigations, specific approaches to investigating unautho...

In this episode, we dive into the UK Government’s official response to its consultation on Buy-Now, Pay-Later (BNPL) regulation—marking a pivotal shift in how short-term interest-free credit is governed. 🎯 What’s Changing? The Treasury’s 2025 consultation confirms that BNPL agreements offered by third-party lenders will come under formal regulation. In contrast, merchant-provided BNPL will stay e...

In this in-depth episode, we break down the FCA’s latest consultation paper, CP25/14, on the proposed regulatory framework for the issuance of qualifying stablecoins and custody of qualifying cryptoassets in the UK. From consumer protection to market integrity, the FCA’s goal is clear: make stablecoins function like trusted, money-like instruments while setting robust guardrails for those safeguar...

The Financial Conduct Authority (FCA) recently conducted a multi-firm review examining how retail banks and building societies manage customers in vulnerable circumstances, particularly those dealing with bereavement and Power of Attorney (PoA). This review forms part of the FCA’s Consumer Duty, which requires firms to deliver positive outcomes for all customers, including those facing vulnerable...

Struggling to keep your financial services firm on the right side of the rules? You're not alone! Navigating the FCA's regulations, especially when it comes to looking after vulnerable customers, can feel like a proper minefield. That's where Compliance Consultant come in handy, acting as your trusty guide through the regulatory landscape. Think of it as having an expert in your corner...

The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has released its 2023-2024 report, shedding light on significant concerns about the effectiveness of Anti-Money Laundering (AML) supervision within the legal and accountancy sectors. The report highlights the need for stronger, more consistent supervision to mitigate the risk of money laundering and financial crime. Despite...

The Financial Conduct Authority (FCA) plays a pivotal role in regulating the UK’s financial services. Its primary responsibility is ensuring consumer protection, fostering market integrity, and promoting competition within the financial sector. The FCA achieves these goals by setting clear, comprehensive rules that govern how firms manage risks, treat customers, and maintain transparency in their...

FCA compliance is critical for firms operating within the UK financial services sector, ensuring that they meet regulatory standards while promoting consumer protection, market integrity, and financial stability. The Financial Conduct Authority (FCA) is the independent regulatory body overseeing the sector, established in 2013 with a mandate to ensure firms act fairly, transparently, and with the...

Financial crime is one of the most persistent threats to the UK financial system, with an estimated cost of £290 billion annually. It erodes trust, damages the economy, and undermines investor confidence, contributing to capital flight. Financial crime takes many forms, including fraud, money laundering, bribery, and corruption, and its impact is always damaging. Money Laundering: The Core Threat...

FCA compliance training is essential for all businesses within the UK financial sector. It ensures organisations meet the regulatory standards required by the Financial Conduct Authority (FCA), helping to avoid penalties, reputational damage, and legal complications. More importantly, it fosters a culture of integrity, safeguarding both the business and its customers. The Financial Conduct Authori...

The Financial Conduct Authority's approach to risk management represents a cornerstone of financial regulation in the United Kingdom. This comprehensive framework emphasises the critical nature of risk management for financial institutions, establishing it not merely as a regulatory requirement but as an essential component of organisational success. The foundation of effective risk management beg...

The Financial Conduct Authority (FCA) plays an essential role in regulating the UK’s financial services sector. It has a core remit to protect consumers, ensure market integrity, and foster competition. The FCA’s broad regulatory functions include setting industry standards, conducting investigations, and enforcing rules to maintain a robust financial system. As such, compliance with FCA regulatio...

FCA Payments Consumer Duty Multi-Firm Review: Key Findings and Implications - February 2025 The Financial Conduct Authority (FCA) published its findings from a multi-firm review on the implementation of the Consumer Duty within the payments sector, involving 23 firms of various sizes and business models. The review aimed to assess how firms are adopting the Duty and ensuring better consumer outcom...

Suspicious Activity Reports (SARs) and Defence Against Money Laundering (DAML) in the UK Understanding Suspicious Activity Reports (SARs) and Defence Against Money Laundering (DAML) requests are crucial for businesses and individuals subject to the UK’s anti-money laundering regime. These tools play a pivotal role in combating financial crimes, such as money laundering and terrorist financing, ens...

This briefing document examines various sources pertaining to the regulation of cryptoassets, revealing a complex and evolving landscape. The increased scrutiny focusses on potential uses of cryptoassets in money laundering, terrorist financing, and market abuse. Key themes include: • The growing regulatory focus on cryptoassets, particularly in the UK, with the Financial Conduct Authority (FCA) a...

Operational resilience has become a critical focus for organisations navigating an ever-changing and disruptive world. This concept extends beyond basic recovery; it is about thriving amidst challenges, adapting to unforeseen circumstances, and ensuring continuity for stakeholders. Defining Operational Resilience Operational resilience can be defined as "a process and a characteristic of an organi...

Read More @ https://bit.ly/42pbxjh Compliance Essentials in the FCA Wind Down Plan The FCA Wind Down Plan is pivotal for organisations in the financial services sector, as it ensures a regulated and orderly cessation of operations, safeguarding client assets and maintaining market stability. This document serves as a comprehensive guide tailored for Compliance and Risk Officers, Directors, and Com...

Oversight Framework for Critical ICT Third-Party Service Providers A significant aspect of DORA is its dedicated Oversight Framework for Critical ICT Third-Party Providers (CTPPs). Recognising their systemic importance, DORA includes a structured designation process managed by European Supervisory Authorities (ESAs). These authorities evaluate CTPPs based on criteria detailed in Article 31, ensuri...

Navigating FCA Authorisation for APIs and EMIs," the podcast dedicated to demystifying the complexities of financial regulations in the ever-evolving fintech landscape. Whether you’re a startup founder, an established business developer, or a fintech enthusiast, our show provides essential insights into obtaining FCA authorisation for Application Programming Interfaces (APIs) and Electronic Money...

The UK’s financial sanctions regime is a vital instrument employed by the government to achieve foreign policy and national security goals. Key objectives include promoting peace, preventing conflicts, supporting democracy, and deterring terrorism. Financial sanctions restrict certain services and access to markets and resources, applying to all individuals and entities operating within the UK, in...

This podcast summarises the key themes and expectations outlined by the Financial Conduct Authority (FCA) regarding Fitness & Propriety (F&P) assessments for Senior Management Functions (SMFs) and Certification Staff within regulated firms. Massive 25% Discount for 2025: Silver Anniversary Offer with £9,999+ bonuses! This podcast was provided by Compliance Consultant, home of the Complianc...