ASIC’s decision to fine the directors of Storm Financial throws the light on executive responsibility. But what lessons can be learned? Continue reading “What lessons can be learned from Storm Financial?”
By Jane Walshe, CEO of Enforcd
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Last summer, the Financial Conduct Authority (FCA) published its long-awaited consultation on the extension of the Senior Managers & Certification Regime (SM&CR) to all FCA-regulated firms. The Consultation closed on 3 November 2017 and a Policy Statement is due this summer, with implementation for asset managers now expected mid-to-late 2019.
In this 5th post in our series of blogs on the FCA’s increasing focus on corporate conduct, we look at how boards can get an oversight of conduct.
It’s a problem we often see in business. A corporation establishes a clear set of corporate guidelines but fails to follow them throughout the company. The problem – for all their good intentions the board fails to monitor compliance at the coal-face. Continue reading “How does your Board get an Oversight of Conduct in your Organisation?”
In this 4th post in our series reflecting on Megan Butler’s speech to the FT Investment Managers Summit, we look at what support your firm provides to help staff improve conduct.
Ensuring good conduct across a corporation is essential. Once you’ve established a strategy for good corporate conduct, how do you make sure that everyone across the organisation sticks to it? Continue reading “What support does your firm provide to help staff improve conduct?”
What key lessons should firms take away from the FCA consultation on codes of conduct for unregulated activities?
In November of last year, the FCA published a draft consultation paper setting out the expected code of conduct for unregulated activities. The move had been coming for some time, as the FCA became increasingly vocal in its criticism of unregulated funds. In 2017 it attracted complaints when it demanded 250 advice firms deliver data on unregulated investment recommendations they had made.