The FCA recently issued a Dear CEO letter referring to firms being able to take a more flexible approach but in the same letter reiterated that the requirements of the Money Laundering Regulations 2017 still need to be complied with fully.
Given the FCA's focus on both regulatory investigations and criminal prosecutions for AML failings, and the desire of other UK and overseas prosecuting agencies to take action in this space, it is key that firms and their senior management make the right decisions.
Listen to our on-demand webinar current approaches to customer onboarding in a remote environment, during which we discuss:
If you need any further support on these issues, please contact Michael Ruck.
Michael supports clients on sensitive reputational matters, financial crime related issues and investigations. He previously spent four and a half years at another City law firm in the corporate crime, investigations and enforcement team and before that spent almost six years working in the FCA's Enforcement and Market Oversight Division. Michael has a broad range of experience including advisory, regulatory liaison and large-scale, complex multi-jurisdictional investigations. He has led financial services regulatory projects, investigations and proceedings for a range of institutions. His experience spans various regulatory issues and he has worked closely with a number of UK and foreign regulators, including the FCA, SFO, ICO, DOJ and IRS.
Davinia is a solicitor in TLT's Financial Services Regulation team. In addition to her expertise in insurance law, Davinia has experience of assisting financial services clients with customer journeys, financial crime policy and procedures, and conduct of business requirements. Prior to her legal career, Davinia was a compliance officer for an international insurance company. Over the course of her seven year insurance career, Davinia gained her Lloyd's and London Market Introductory Test (LLMIT) certificate, as well as qualifications in risk management.
Consumer Finance: Hot Topics for 2020Read more
Emerging conduct risks and handling conduct risk incidents webinarRead more
TLT strengthens financial services disputes practice with major team...Read more
Brexit: transition & beyondRead more
TLT advises Partners Wealth Management on acquisition by 7IMRead more
Part VII transfer for Triodos BankRead more
Seven top questions on returning staff to work during coronavirusRead more
Financial services investigations and enforcement round-up - August...Read more
TLT ranked top 15 firm for India business lawRead more
The pandemic has forced the majority of the workforce into a world of remote working. As a result, our cities are evolving.Read more
Our countdown to Brexit and beyond podcast series looks at the impact for businesses on both sides of the pond of any free trade agreement between the UK and Europe and the UK and the US. ThisRead more
There's a growing demand for retailers to do more to attract the Purple Pound – the collective spending power of disabled shoppers, estimated to be worth around £274bn. We look at the opportunities, the legal issues and...Read more
The way people shop is constantly evolving, from the growth of online and the changing use of stores...Read more
Helping you navigate your business through the risks and opportunities that Brexit will bring.Read more
Green finance is gaining speed, driven by global climate change pressures and the recognition of the vital role which sustainability plays in a resilient financial services sector.Read more
Keep on top of the employment law issues that matter most to you and your business with our new podcast.Read more
As businesses adjust to new ways of working and plan for an uncertain future, we keep track of the emerging legal and regulatory issues.Read more
Keeping you up to date with the latest guidance on regulatory change and legal impact of the coronavirus pandemic.Read more
Our complete service covers all aspects of regulatory law, from commercially-based compliance advice, right through to protecting the interests of companies or individuals facing regulatory investigation or prosecution.Read more
Our team has a broad range of experience including advisory, regulatory liaison and large-scale, complex multi-jurisdictional investigations.Read more
Providing a complete service covering all aspects of regulatory law.Read more
Guidance on every aspect of regulatory change and all types of regulatory issues to clients ranging from retail banks to insurance and credit brokers, sub-prime lenders, credit providers and payment service providers.Read more