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Financial Institutions Customer Due Diligence (CDD) Financial Conduct Authority (FCA)

A&O Shearman

PEP talk revisited: revised UK guidance on treatment of PEPs

A&O Shearman on

The UK Financial Conduct Authority (FCA) has issued finalised guidance on the treatment of politically exposed persons (PEPs) for anti-money laundering purposes. There is no significant shift in the FCA’s expectations of...more

Hogan Lovells

FCA’s review into challenger banks uncovers deficiencies in financial crime controls

Hogan Lovells on

In recent years, the financial services industry has seen an exponential growth in the popularity of challenger banks in the UK. Digitally-driven, technologically innovative and efficient onboarding processes are some of the...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK’s Woolard Review Proposes Regulations for BNPL Credit Agreements

On 2 February 2021, the Financial Conduct Authority (the FCA) published a report on the U.K. unsecured credit market (the Woolard Report), which makes several recommendations designed to generate alternatives to high-cost...more

A&O Shearman

FCA: Thematic Review: Money Laundering and Terrorist Financing Risks in the E-Money Sector

A&O Shearman on

Shortly after the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) came into force, the FCA embarked on a review of the control frameworks in place at 13...more

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