August 12, 2022
The UK Financial Crime Legislation framework
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.
More about us
March 24, 2025
Preparing for Future Challenges: Emerging UK Crypto Regulations and Strategic Planning
In the concluding part of our series, we shift focus to tomorrow’s regulatory environment—including pending legislation, potential expanded authorisation requirements, and international alignment trends.
More about us
January 28, 2022
What are regulatory controls and how do you conduct control monitoring
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.
More about us
April 5, 2023
Review of the Senior Managers & Certification Regime (SMCR)
On 30 March 2023, the UK government and regulators initiated a review of the Senior Managers & Certification Regime (SMCR) through a Call for Evidence from Her Majesty's Treasury (HMT) and a joint Discussion Paper (DP23/3) from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA).
More about us
November 23, 2022
FCA's new rules on Appointed Representative Regime
Changes to the Appointed Representatives regimes will take effect from 08 December 2022. The final rules were published in the Financial Conduct Authority’s policy statement to improve the appointed representative's regime.
More about us
October 15, 2021
The FCA Register
As an institution with financial services activities, you are likely to require authorisation by the FCA.
More about us
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.
More about us
May 18, 2023
Use of Personal Communications Channels. A Compliance Concern for Regulated Entities
In today's digital age, the use of personal communications channels for work purposes has become a major point of contention for regulated entities. Financial services regulators globally,
More about us
February 16, 2023
Consumer Credit Reforms - Are they long overdue?
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.
More about us
September 20, 2022
How to conduct a Business and Customer Risk Assessment
A business risk assessment provides visibility of the levels of AML risks within your firm to demonstrate the application of a risk-based approach. The outcome of the BRA is an AML risk rating for you and the organisational chart of business units is differentiated into high, medium or low risk. The BRA evaluates the AML risks faced by the business and demonstrates that it allocates resources according to the risk-based approach.
More about us
April 25, 2024
Improving Oversight of Appointed Representatives in the Credit Broking Industry Introduction
The Financial Conduct Authority (FCA) has recently assessed the key harms and drivers of harm caused by Appointed Representatives (ARs) and Introducer Appointed Representatives (IARs) in the credit broking sector. The regulator has identified areas for improvement in the due diligence checks conducted by principal firms when appointing ARs and in their ongoing monitoring of these representatives. This article will discuss the issues identified by the FCA and how firms can address these concerns to ensure better oversight of their ARs and IARs.
More about us
April 11, 2021
Deconstructing the Dear CEO Letter
On 26 October 2020, the FCA issued its warning to CMC firms regarding their steps taken to fully investigate the merits of each potential claim before pursuing it.
More about us
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.
More about us
April 11, 2021
Understanding the FCA thematic review (part1)
The Financial Conduct Authority carries out regular ‘thematic reviews’ into areas requiring further review by firms in the financial services industry.
More about us
November 10, 2021
Regulatory considerations for Consumer Credit Firms
The FCA has set out new rules for claims management companies (CMCs) to protect consumers against excessive charges. Some of the major changes include:
More about us
.svg){kind=logo}
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.webp)
.png)
.png)
