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 […]

Employment Application

Nearly Two Thirds of Job Applications Contain Errors

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Almost two thirds (64 per cent) of job applications contained errors in 2015, according to new research by HireRight, the global candidate due diligence company. This represents an eight percentage point rise in the proportion of people, either deliberately or accidentally, including incorrect details when applying for a job (from 56 per cent in 2014). […]

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 […]