• 12 May

    Compliance Matters – 12 May 2015

    Conduct risk: how to get to the root of the problem

    These days, when a firm has to follow things up after a visit from the UK’s Financial Conduct Authority, the regulator is likely to ask it to write a letter attesting that it has completed all the followup tasks. This used to occur only after warning of enforcement. This is one way of offseting ‘conduct risk,’ which we examine in this article.


    By Neil Herbert Articles News
  • 09 May

    Compliance Matters – 20 May 2015

    Market abuse – is it too much for the compliance team?

    An FCA speaker at a recent industry conference owned up to the fact that her organisation deliberately did not have a master definition of ‘conduct risk.’ What does this mean for a bank or other firm that honestly wants to stop its staff from abusing the market?


    By Neil Herbert Articles News
  • 09 Apr

    April 2015 Newsletter – Spotlight on Wholesale

    Regulatory Conduct Reaches Wholesale and Institutional Sector – New Challenges for Compliance, Risk and HR.


    In this quarter’s newsletter we are focusing on the wholesale sector – both buy-side and sell-side institutions and some of the key challenges that FCA regulation presents.

    Up close and personal

    It’s been a while coming but no one could say they were not warned. The FCA has long signalled its intention to focus its attention on the wholesale and institutional sector – both buy- and sell-side. For some time the primary conduct and associated T&C focus has been on the retail sector – mainly driven by the RDR shake up. As a result the wholesale  sector has been lulled into a state of complacency.


    By Neil Herbert News
  • 09 Apr

    T-C News Article – April 2015

    Wholesale firms must take the issues of conduct risk and market abuse very seriously indeed.  Any firms that do not will run significant regulatory risks at both corporate and individual levels.


    By Neil Herbert Articles News
  • 30 Jan

    A year in T&C

    Another year is past and before the retail financial services sector has had much of a chance to take stock of a post-RDR world, the next regulatory steam train is hurtling down the tracks of 2015. I refer of course to the new personal accountability framework and the further ramifications of the legislative changes stemming from the recommendations of the PCBS.

    By Neil Herbert Blog
  • 24 Oct

    Court in the act?

    The recent case of Rebekah Brooks (former editor of the News of the World) and the new enforcement regime of the FCA against senior management have generated the inevitable debate and comparison.

    By Neil Herbert Blog
  • 26 Sep

    Conduct unbecoming

    The FCA has what it cheerfully describes as a judgement-based approach to regulation. This allows the regulator to make a very subjective interpretation of what is acceptable conduct and what is not.

    By Neil Herbert Blog
  • 14 Aug

    Article in Financial IT – 8 July 2014

    A new era for training and competence

    To effectively regulate the UK financial services industry, the Financial Conduct Authority has adopted a new supervisory model, which rather than being reactive is pre-emptive and judgement-based.

    Click here to read the full article

    By Neil Herbert Articles Blog
  • 14 Jul

    Article in T-C News July 2014

    Technology, silos and denial: why record keeping is such a problem for regulated firms

    Record keeping is perhaps the area most neglected by UK financial services firms under the FCA’s training and competence regime. What is often misunderstood is that the record keeping standards apply not only to anyone in a control function but also to staff across the business, as well as applying equally across the retail and wholesale sectors.

    Click here to read the full article

    By Neil Herbert Articles Blog
  • 14 Jul

    Article in Global Banking and Finance Review – 30 July 2014

    T&C: Where Compliance and HR Collide or Collaborate?

    Training and competence is a unique element of the financial services compliance landscape, in terms of both perception and technology. Responsibility for it spans different departments, crossing the divide between HR and Compliance.

    Click here to read the full article

    By Neil Herbert Articles Blog
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