As financial crime risks evolve, including those risks posed by the use of AI and other emerging technologies, so too must firms’ financial crime compliance response. It is unsurprising, therefore, that AI forms part of both...more
1/31/2025
/ Anti-Money Laundering ,
Artificial Intelligence ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Services Industry ,
FinTech ,
Machine Learning ,
Popular ,
Regulatory Requirements ,
Risk Management ,
Third-Party ,
UK
Imagine this – a customer submits a payment instruction directing that all their life savings are transferred to a third-party account for the purposes of an investment. What do you do? While the scenario may appear...more
2/15/2024
/ Banking Sector ,
Financial Conduct Authority (FCA) ,
Financial Crimes ,
Financial Services Industry ,
Fraud ,
Ombudsman ,
Payment Processors ,
Payment Systems ,
Reimbursements ,
Scams ,
UK
The intention behind the implementation of the Consumer Duty is commendable. However, as firms seek to comply with the new requirements, there is a real risk that it may drive unintended, negative consequences....more
We are defending financial institutions from multiple claims for breach of the so called Quincecare duty and have seen claimant law firms increasingly seek to expand the scope of the duty to try to make financial institutions...more
Welcome to Banking Bites! This is our short summary flagging some key developments in your sector that we hope will inform your activities in your market....more
10/21/2022
/ Anti-Money Laundering ,
Bank of England ,
Climate Change ,
Economic Sanctions ,
EU ,
FDIC ,
Financial Services Industry ,
Foreign Investment ,
NY Supreme Court ,
Pending Legislation ,
Risk Mitigation ,
Russia ,
UK
Yesterday’s joint Discussion Paper (DP21/2) published by the Bank of England, Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA, together “the regulators”) on “Diversity and inclusion in the financial...more
7/8/2021
/ Bank of England ,
Corporate Culture ,
Corporate Governance ,
CRD V ,
Discussion Draft ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Prudential Regulation Authority (PRA) ,
Remuneration ,
Reporting Requirements ,
Senior Management Regime (SMR) ,
Senior Managers ,
UK