Financial Regulation Now In 2020 banks were fined over 14.2 billion dollars globally for non-compliance. This included violations of Anti-Money Laundering (AML) rules, Know Your Customer (KYC) checks and operating guidelines. As financial regulation increases to ensure the safety and security of the financial system and protect consumers, financial institutions must consider how they can […]

The UK Financial Conduct Authority (FCA) is getting tough on recording workers when they are working from home.  The Covid-19 pandemic has radically disrupted work environments around the world. Many companies have been required to make the abrupt shift to work from home. Technology is supporting and enabling companies to adjust to the new remote working way of life, which in some cases maybe long […]

I thought I’d give this post a fairly descriptive title, just to get the point across. There is some significant FUD that has entered my marketplace recently. A quick bit of background: In certain jurisdictions, call recordings must be maintained for a period of time (6 months in the UK) if they are made under […]

A few weeks ago, I saw an article in the press “Firms could face fines for failing to prevent fraud” (see here). It resurrected an idea that companies, and their directors, could be liable for financial crimes (see LIBOR and others ad nauseam), if they had failed to put in place adequate detection and prevention […]

Widely reported today is the news that law firm Withers has just lost £1.6m ($2.6m) because of a “misremembered” phone call, a call that was not recorded. Remember Guy Hands? He lost billions because he could not prove what was said in three phone calls.  Again, calls that were not recorded. Seriously, how many times […]

The FX probe took a dramatic turn yesterday with the news that the Bank of England suspended an official in relation to the alleged manipulation of FX rates. The misconduct that is alleged (which seems to relate to who knew what when, and who they told) goes back as far as 2006 since when untold […]

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