What are the challenges in Financial Services in UAE?

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HireRight recently held a roundtable in the Middle East to discuss how global Financial Services regulatory changes may impact the region. The latest whitepaper, “The Big Screen” addresses the outcomes from the discussion, and points to areas that need to be addressed for the region to adopt best practice. The event made it evidently clear […]

The Impact of Global Regulation on UAE Financial Services

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With an increasingly globalised workforce, the talent pool for the UAE’s Financial Services sector is bigger than ever. But with the shadow of the 2008 financial crisis still hanging overhead, the increased level of choice comes with the need for even greater candidate scrutiny. Internationally regulators are raising the bar when it comes to accountability […]

Hear from the Experts: Senior Managers and Certification Regime

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Our recent webcast with Financial News Custom Studio is now available to watch on demand. “Now Comes the Hard Bit: Making Sure the Senior Managers Regime Works” provides the views of HireRight’s Steve Girdler as well as representatives from Lloyds Banking Group, Chartered Banker Institute, Freshfields, and the BBA. The panel discuss the impact of […]

Financial Conduct Authority

UK Financial Regulation – Regulated References and Other News

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We have been waiting for the regulators to publish their rules around regulated references and extending the new regime to cover different roles (algorithmic traders and client-dealing functions). They have published some updates but it will take a bit longer for us to know exactly what’s needed and implement everything following some recent updates from […]

Regulation Ready

Top 10 Tips on being FCA Regulation Ready

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HireRight recommends financial service firms take the following steps to mitigate the risk of falling below minimum standards and competitors: Plan – Have a plan for the next two years to ensure that you are ready not only for March 7 2016 but also 2017 when the rules are applicable more widely. Review your policies […]

Regulation Ready

What is the Elephant in the Senior Manager’s Room?

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The Senior Managers and Certification Regime, intended to improve standards and increase transparency and communication between the financial services industry and the regulators, are due to be implemented in just weeks. These rules make individuals accountable for their own behaviour and ensure that those with significant influence regularly undergo checks confirming they are fit and […]

Regulation Ready

Top 4 Concerns with the Senior Managers Regime

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Martin Wheatley, then FCA chief executive, introduced the Senior Managers Regime, Certification Regime and Conduct Rules with the certainty that: “Today we have given clarity on rules that will embed personal accountability into the culture of the City. New conduct rules will add further momentum to improving standards across the industry.” Yet key questions remain […]

Regulation Ready

How New Financial Services Regulation Affects You

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In 2013, the Parliamentary Commission for Banking Standards set out plans to improve professional standards and culture in the UK financial industry, promote transparency and increase communication. Following detailed consultation, these rules come into force in March, falling under three categories: Senior Managers Regime Certification Regime Conduct Rules According to the August 2015 FCA media […]

Financial Conduct Authority

Guilty Until Proven Innocent – Financial Services Update

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The latest development in the ongoing plans to implement the Senior Person’s Regime for Financial Services is that the Treasury has made a U-turn on its proposal to impose a ‘guilty until proven innocent’ approach. The so-called “reverse burden of proof” would have demanded senior bankers proved they were unaware of any wrongdoing at their […]