The Compliance Angle Regulatory Monthly Update for January 2024 is now available for the latest regulatory updates and news in the UK and from around the globe.
Click to find out more, and see below on what's included in this edition.
United Kingdom
Financial Conduct Authority (FCA) made temporary changes to motor finance complaints-handling in line with its work in the motor finance market.
FCA expectations for Investment-based Crowdfunding Platforms.
FCA expectations for Loan-based Peer-to-Peer Lending Platforms.
Bank of England (BOE) and HM Treasury (HMT) respond to February 2023 Digital Pound Consultation.
House of Lords to create body to oversee the FCA and PRA.
FCA to probe firms on sexual misconduct and bullying claims.
Prudential Regulatory Authority (PRA) fines former CEO of Wyelands Bank for breaches of Conduct Rule.
PRA fines HSBC £57,417,500 for failures in deposit protection identification and notification.
UK Treasury grants European fund managers long-term access.
Requirements for UK High Net Worth and Self-Certified Investors changed from 31 January 2024.
Politically Exposed Persons (PEPs) - changes to the regulations from January 10 2024.
Global - European Union and United States
European Parliament strike deal on single rulebook against Money Laundering and Terrorist Financing.
ESMA releases consultation papers on reverse solicitation and classification of crypto-assets as financial instruments under MiCA.
EBA issues Guidelines to crypto-asset service providers to manage their exposure to ML/TF risks.
EU removes Cayman Islands from its AML/CTF blacklist.
Securities Exchange Commission approves Bitcoin ETFs, whilst MAS disapproves for retail investors.
Securities Exchange Commission fines JP Morgan $18 million over whistle-blower protection violations.