FSR and Corporate Crime Notes

FCA publishes its latest Industry Feedback on its 5 Conduct Questions Programme

Authors: Clive Cunningham, Harry Millerchip, Katie McGrory Background The FCA recently published its Industry Feedback for 2018/19 on its 5 Conduct …

HKMA reminds registered institutions of their Internal Investigation Disclosure Obligation

EMIR Refit Regulation: (Re)fit for purpose?

The EMIR Refit Regulation was published in the EU Official Journal on 28 May 2019. It is intended to amend EMIR to simplify certain requirements and …

Crypto asset compliance in an uncertain regulatory environment

Retail bank fined £1.89m by FCA and PRA for outsourcing failings

Author: Hanne Gundersrud Overview The FCA and PRA have announced their second enforcement action in relation to outsourcing failures by the retail bank …

Client facilitation – Key standards of conduct and internal controls identified and reiterated by Hong Kong SFC

Authors: William Hallatt, Hannah Cassidy and Jennifer Fong On 14 May 2019, the Securities and Futures Commission (SFC) issued further guidance …

EU adopts new sanctions framework targeting external cyber-attacks

HKMA takes first step towards regulating the use of big data analytics and artificial intelligence in FinTech

Authors: Hannah Cassidy, Jeremy Birch, Sheena Loi and Peggy Chow The Hong Kong Monetary Authority (HKMA) has issued a circular to encourage authorised …

Disclosure of internal investigations – the Hong Kong SFC’s FAQs fail to relieve industry concerns

The Hong Kong Securities and Futures Commission (SFC) has released frequently-asked questions (FAQs) to clarify its Internal Investigation Disclosure …

FATF Releases Fourth Round Mutual Evaluation Report of China

Authors: Kyle Wombolt, Jeremy Birch, Karen Ip and Mark Chu On 17 April 2019, the Financial Action Task Force (FATF) released its fourth round mutual …

The month ahead in financial services regulatory developments...

Updated DOJ Guidance Steers Effective Compliance and Remediation Programmes