FCA promises “assertive” approach and stronger consumer focus

The Financial Conduct Authority (FCA) has published its business plan for the coming year, which includes a renewed focus on consumer outcomes and a commitment from the regulator to become more innovative, adaptive and assertive. Nikhil Rathi, who joined as chief executive in October 2020, said: “The FCA must continue to become a forward-looking, proactive regulator. One that is tough, assertive, confident, decisive, agile. One that acts, acts fast—and where we can’t act, engages enthusiastically with those who can.”

FCA promises “assertive” approach and stronger consumer focus

Jul 23, 2021

The Financial Conduct Authority (FCA) has published its business plan for the coming year, which includes a renewed focus on consumer outcomes and a commitment from the regulator to become more innovative, adaptive and assertive. Nikhil Rathi, who joined as chief executive in October 2020, said: “The FCA must continue to become a forward-looking, proactive regulator. One that is tough, assertive, confident, decisive, agile. One that acts, acts fast—and where we can’t act, engages enthusiastically with those who can.”

Auxillias celebrates one-year in business

Bespoke legal and compliance firm Auxillias has passed its first business milestone, with celebrations marking 12 months since it was first launched. During this time, the two founders – CEO Jo Davis and COO Daksha Mistry – have built up a strong client base for the firm’s market-leading services.

Auxillias celebrates one-year in business

Jul 06, 2021

Bespoke legal and compliance firm Auxillias has passed its first business milestone, with celebrations marking 12 months since it was first launched. During this time, the two founders – CEO Jo Davis and COO Daksha Mistry – have built up a strong client base for the firm’s market-leading services.

FCA launches consultation on new ‘Consumer Duty’ rules for retail financial markets

The UK’s Financial Conduct Authority has revealed plans for a new Consumer Duty, which will set a higher level of consumer protection in retail financial markets. The Consumer Duty, which firms will have to follow or face action including enforcement investigations, will have 3 key elements:

FCA launches consultation on new ‘Consumer Duty’ rules for retail financial markets

Jun 14, 2021

The UK’s Financial Conduct Authority has revealed plans for a new Consumer Duty, which will set a higher level of consumer protection in retail financial markets. The Consumer Duty, which firms will have to follow or face action including enforcement investigations, will have 3 key elements:

Lease accounting

LeaseAccelerator study identifies disclosure challenges of ASC 842

Jan 24, 2020

Lease accounting software provider LeaseAccelerator has published a new report looking at the key challenge faced by US companies as they implement ASC 842. It has analysed comment letters received by the Securities and Exchange Commission in 2019 to identify common issues as the new standard was adopted. Many companies had to organise and migrate hundreds or even thousands of leases onto new accounting software with new controls, processes and procedures. Many of the SEC comments were requests for additional details on a company’s analysis, assumptions, judgments and supporting documentation.

BREXIT

Personal Data post-Brexit: Kate Brimsted explains how the UK is allowed “third country” status for up to six months

Jan 06, 2021

The UK and the EU concluded the Trade and Cooperation Agreement on 24 December 2020. The Agreement provides a framework under which trade will take place following expiry of the transition period on 31 December 2020. “Personal data” is mentioned a mere 158 times in the 1265 pages of the document but there are some significant impacts in this area, as in so many others.