February 21, 2025
Financial Promotions Under Scrutiny: FCA Doubles Down on Compliance Enforcement
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 In a striking development, nearly 20,000 financial promotions were withdrawn or amended in 2024—representing a dramatic doubling of regulatory interventions compared to the previous year.
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December 29, 2022
What is the Appointed Representative Regime?
In this series of articles, MEMA will break down what is the Appointed Representative Regime and what steps your organsiation will need to take.
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August 31, 2022
What is money laundering and what are some red flags you should consider?
Money laundering is the process of concealing or disguising the existence, source, movement, destination, or use of illicitly-derived property or funds to make them appear legitimate.
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January 31, 2022
New restrictions on the financial promotions of crypto assets
The Financial Conduct Authority (FCA) has launched a consultation paper (CP22/2) on financial promotion rules for high-risk investments, including crypto assets.
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May 15, 2021
Understanding virtual asset service providers
Virtual asset service providers have been defined as a new financial sector facing significant money laundering and terrorist financing risks.
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January 28, 2022
Vulnerable customers – understanding and meeting the FCA’s guidelines
Fair treatment of vulnerable customers has been a longstanding concern for the FCA . The FCA has released the Finalised Guidance (FG21/1). It sets out its view of what firms should do to comply with their obligations under the Principles and ensure they treat vulnerable customers fairly.
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Navigate the New Financial Crime Landscape with FCA's Updated Guide and MEMA Consulting's Expertise
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.
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August 10, 2022
Financial Crime- Understanding the FCA Handbook rules
MEMA has produced this financial crime series for firms, to understand the steps they can take to reduce their financial crime risk. It does not include all the financial crime risks a firm may face but provides an understanding of FCA expectations in this complex field.
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September 27, 2022
How to get FCA authorised (part 1)
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
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April 11, 2021
Preparing financial projections for the FCA
In this article, we briefly cover the financial projections that companies are expected to produce when submitting their application to the Financial Conduct Authority (FCA).
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February 20, 2025
FCA Announces Payment Services Authorisation Information Sessions
The FCA Payment Services Authorisation Information Session will take place on 9 May 2025 in Stratford, with a virtual session in June. This event is essential for payments and e-money firms seeking FCA authorisation, as well as advisory firms supporting the sector.
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March 7, 2025
Navigating the UK Crypto Landscape: Key Definitions and Regulatory Overview
The United Kingdom has a rapidly evolving crypto market with growing consumer interest. Yet, despite increased adoption, many crypto businesses and investors remain uncertain about the rules governing this space.
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August 9, 2023
Revised U.K. Financial Regulators' Complaints Scheme - Coming into effect 1, November 2023
In a collaborative effort, the Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), and Bank of England have unveiled their revised Complaints Scheme, which fundamentally shapes the protocol for addressing and managing grievances lodged against the U.K. regulatory bodies. This revamped framework encompasses several significant modifications:
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February 12, 2024
Financial crime poses significant threats that undermine market integrity and public trust
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.
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August 9, 2022
What are UK sanctions and how to conduct sanctions screening?
Sanctions are normally used by the international community for one or more of the following reasons:
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