April 28, 2022

The Financial Conduct Authority has released its key findings from its recent review of financial crime controls at several challenger banks. There are quite a few takeaways you can take to actively enhance your systems and controls.

October 12, 2021

At MEMA, in discussions with our customers (current and prospective) we identified a common theme, understanding the regulatory landscape is problematic and requires clearer descriptions aid understanding.

In response to evolving regulatory landscapes and recent global events, the Financial Conduct Awareness (FCA) has unveiled proposed updates to its Financial Crime Guide, CP24/9. The revisions aim to enhance sanctions systems, address proliferation financing, and refine transaction monitoring with a focus on modern technologies like Artificial Intelligence and cryptoassets. With these updates, the FCA seeks to fortify financial crime prevention measures and ensure firms are well-equipped to meet new challenges. As firms adapt to these changes, MEMA Consulting stands ready to offer expert guidance and tailored support, helping businesses align with FCA's stringent standards and navigate this complex regulatory terrain effectively.

September 27, 2022

We are launching a new How To series on 'How to get FCA authorised'. This will look to cover a range of key items your business should consider from the location of offices, expected fees to resourcing. We will start on the first few key areas covering

April 11, 2021

Have you completed your FCA Directory Persons? If you have not heard or are wondering, by 31 March 2021, the FCA is proposing that solo regulated firms (you) must submit their Directory Persons data via Connect.

February 21, 2025

The financial services landscape is witnessing unprecedented regulatory scrutiny, with the Financial Conduct Authority (FCA) significantly intensifying its oversight of financial promotions. In a striking development, nearly 20,000 financial promotions were withdrawn or amended in 2024—representing a dramatic doubling of regulatory interventions compared to the previous year.

February 6, 2023

Compliance control monitoring is a crucial aspect of maintaining regulatory compliance for financial firms. The Financial Conduct Authority (FCA) requires firms to have robust controls and monitoring systems in place, and it is up to individual firms to implement these measures effectively. In this article, we will discuss the steps that firms can take to conduct compliance control monitoring.

February 16, 2023

The Consumer Credit Act 1974 (CCA) is a significant piece of legislation that regulates credit agreements, such as personal loans, overdrafts, and credit card purchases. However, the CCA has undergone numerous changes over the years, resulting in a fragmented and complex consumer credit framework that is difficult to navigate.

January 9, 2023

Following on from our previous article about the Senior Manager regime, we provide more detail about the FCA Fit & Proper Requirements and Conduct rules.

January 28, 2022

As a regulated firm or a firm wishing to become regulated, you will need to ensure you have a robust control plan and can conduct effective monitoring of controls. In this article, we will detail what a control plan is and the steps you can take to conduct effective control monitoring.

December 19, 2022

The Senior Managers and Certification Regime (SM&CR) replaces the Approved Persons Regime (APR) which is how the FCA used to regulate people working in financial services.

April 20, 2023

The Financial Conduct Authority (FCA) has highlighted its focus on ensuring good consumer outcomes in its latest Business Plan, selecting 'putting consumers' needs first' as one of its four priority areas for the upcoming year. This comes in response to the ongoing cost of living crisis, and the FCA is committing additional resources and headcount to Consumer Duty-related activities.

December 6, 2021

The FCA has confirmed that from 29 July 2022, it will take on responsibility for regulating and supervising the pre-paid funeral plans market.

February 12, 2024

Financial crime undermines market integrity and public trust, prompting the FCA's 3-year strategy. MEMA advises firms to use tech, collaborate, educate, strengthen compliance, foster responsibility, and support AML reform. For assistance, contact MEMA's experts.