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Comment and Analysis

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Anti-Money Laundering

Problematic sources of ‘due diligence’ for HNWIs

Money-laundering reporting officers and compliance officers at private banks and asset management firms find some sources of background information reliable, while others are far from trustworthy. This article l...

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Suitability

FOS outlines policy on insistent clients

In 2015 the UK's Financial Conduct Authority came up with some suggestions (but not rules) to protect financial firms whose clients want to act against their advice from its own 'suitability' rules. The Financia...

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Technology

Regtech Roundup

Venture capital firms all over the world are investing in the regtech (regulatory technology or IT) sector in their droves. About half of the most recent regtech news, however, comes from the UK. ...

Latest News

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Technology

HKMA hopes to usher in a new era of smart banking

The Hong Kong Monetary Authority has unveiled some initiatives to promote something it calls 'smart banking.' They consist of a faster payment system; a fintech 'sandbox 2.0'; the promotion of virtual banking; a...

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Fines and Punishment

Moody's unable to appeal against Hong Kong fine

The Hong Kong Court of Appeal has dismissed an application by Moody’s Investors Service for leave to appeal against the Securities and Futures Commission’s disciplinary action in relation to a special comment re...

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Confidentiality

FCA grudgingly agrees to submit s166 report to Parliament

Last month, the UK's Financial Conduct Authority refused to publish a skilled persons’ report (section 166) about the way in which RBS’ Global Restructuring Group treated customers. It has now, however, agreed t...