By The Enforcd Team

Complaints Handling

Complaints handling is (sort of) back in the headlines. This time the FCA has written to firms with consumer credit permissions, to say that following its review, it had identified: a failure to provide to customers the required information about the Financial Ombudsman Service – this included failing to provide details of the complainant’s right …

By The Enforcd Team

A Great or Terrible Year to be a Banking IT Manager?

Depending on your point of view, this is either a great, or a terrible year to be a banking IT manager. Three major regulatory burdens are in train: the second payment services directive (PSD2), the general data protection regulation (GDPR), and the second markets in financial instruments directive (MIFID2). It renders the European operations of …

By The Enforcd Team

Why Compliance Officers Need To Know Their Responsibilities

Spare a thought for Gregory Rupert Nathan. Recently, the FCA publicly rejected his application for approval to carry out the controlled functions of Compliance Oversight and Money Laundering Reporting Officer at Goldenway Global Investments (UK) Limited. The firm offered contracts for difference trading to Chinese nationals.  Rather coyly, the FCA did not spell out Nathan’s …

By The Enforcd Team

The Brooklands SIPP Scheme

Brooklands Trustees Limited languishes on the Financial Services Compensation Scheme (FSCS) complex cases page. It was established in 2006, and operated subsidiaries in the UK, New Zealand, Dubai, Australia and Gibraltar. According to its insolvency practitioners, it acted as trustee to over 6,000 individual pension schemes worldwide. Because it operated self-invested pension plans, it was …