3 | Regulation Matters - January 2019
FG18/5: Finalised Guidance on financial crime systems and controls: insider dealing and market manipulation AT A GLANCE On 13th December 2018, the FCA published finalised guidance on financial crime systems and controls: insider dealing and market manipulation (FG18/5). This updates the FCA guidance on financial crime (FC) with an additional chapter on insider dealing and market manipulation (likely to be applicable to MiFID firms only) and a number of minor amendments to other parts of FC to reflect recent regulatory changes and ensure it remains up to date. Among other things: • FC Part 1: A firm’s guide to preventing financial crime, is renamed as the ‘Financial Crime Guide: A firm’s guide to countering financial crime risks’ (FCG). • FC Part 2: Financial crime thematic reviews, is renamed as the ‘Financial Crime Thematic Reviews’ (FCTR). The FCA Handbook website reflects the updated FCG and FCTR. We would particularly recommend firms review their practice about ongoing updates of ‘Know Your Client’ information and how and when they check clients are not sanctioned individuals or are subject to the rules on politically exposed persons.
Want to know more? CLICK HERE (or turn to page 7) for a more detailed summary.
Pension Cold Calling Ban
AT A GLANCE Steps to protect consumers from scams took a step forward when HM Treasury brought about a cold calling ban on pensions with immediate effect from 9th January 2019. No consumer should receive any unsolicited calls about their pension (except where there is an existing relationship with the caller e.g. their pension provider or their adviser).
Want to know more? CLICK HERE (or turn to page 9) for a more detailed summary.
DO YOU NEED FURTHER HELP OR SUPPORT? If you have concerns about being compliant, get in touch with TenetSelect, the directly authorised regulatory experts, by calling 0800 085 0825. We have a wide range of services to help your firm, and we would love to have a chat to tell you more. Regulation Matters is produced by TenetSelect as guidance only and is based on their interpretation, it is not and should not be relied upon as professional or legal advice. TenetSelect does not accept any liability for any losses arising directly or indirectly in connection with any of the information contained within Regulations Matters to the extent it can be excluded by law.
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