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  • Insurance News, Articles and Resources

    Our experts deliver compelling insights on recent trends and best practices in managing insurance compliance and you can quickly find expert commentary and compliance insights into the issues that impact your daily work as well as the industry overall.

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    A fine mess
    (Published July 13, 2017) Take the high road. That’s the wish of the governor of the Bank of England, Mark Carney, for the future of financial services regulations as it reaches what he describes as “a fork in the road” that could lead on the one hand to a damaging distrust or on the other to the free and more efficient flow of capital between countries, with immense benefits for mankind. Selwyn Parker comments on this.
    Taking a grip on the new AML-CTF regime implementing into the UK
    (Published July 6, 2017) The core aims and provisions behind the latest European-led updates on anti-money laundering and counter terrorist financing (AML/CTF) have now been on the change radar for some time since the main ‘Official Journal’ provisions of the 4th anti-money laundering directive (4MLD) were published by the EU back in mid-2015 (2015/849). The 4MLD practicably replacing the provisions introduced some 10 years previous to reflect the developing global guidelines and standards, and to build on the risk-assessment, due-diligence and monitoring practices and the underlying arrangements expected to deliver and ensure an effective and proportionate regime. Steve Blackbourn comments.
    “But I just want to open an account” – know-your-customer regulations backfire in Asia
    (Published June 14, 2017) It has become so difficult to open a simple business account in Hong Kong because of nervousness about anti-money laundering (AML) regulations that the central bank has been forced to mount an offensive to show that the territory is still very much open for business. Selwyn Parker takes a closer look.
    On Demand Webinar: Regulatory Change Management – It’s More Than Just the Numbers
    (Recorded Webinar June 8, 2017)  Kathy Donovan reviews the “numbers” and provides insight into the key components of a regulatory change management system.
    Regulatory test-bed for financial innovation proves its worth
    (Published May 22, 2017) The Financial Conduct Authority is playing its part in encouraging innovation in financial services, and fintechs appear to be even more interested in the UK now than they were before the Brexit referendum, as Michael Imeson explains.
    Four years in: Has the U.K. FCA’s early enforcement approach paid off?
    (Published May 16, 2017) In April 2013, the Financial Conduct Authority (FCA) took over from the Financial Services Authority (FSA) as conduct regulator for the U.K. It shares overall regulatory responsibility of the financial services industry with the Prudential Regulation Authority (PRA) under a twin-peaks approach. Now four years down the line are we seeing a reduction in the number and value of financial penalties being issued; and has the FCA’s approach to heavily punish firms and individuals in its early years of regulatory oversight started to pay dividends; or is it just changing tack completely; and is there a solution for continual failure of firms to satisfy FCA ‘Principle for Business 3: management and control’? Mary Stevens takes a closer look.
    Reading the Article 50 tea leaves…where is compliance heading in the next two years?
    (Published May 12, 2017) Now that Article 50 has been triggered and the wrangling has begun, compliance officers might reasonably ask if there will be a reprieve from the flood of financial regulation. Selwyn Parker reviews.
    Keep Calm UK and Carry On – Regulation after Brexit
    (Published April 24, 2017) Goodness knows there’s a lot going on at the moment for the UK that can keep even the most optimistic of us from our sleep. Climate change, the world political situation, Brexit, and the fact that we don’t know who the next Doctor Who will be can all be causes for concern during the dark reaches of the night. Every day’s news seems to bring something else to add to the worry-party. Renowned wit Dorothy Parker was said to react to the sound of her doorbell with the phrase “What fresh hell is this?” – an understandable sentiment for our difficult times! Sue Berwick comments.
    The CPM Edge: Why Compliance Program Management Is Right For You White Paper
    (Published April 11, 2017) Compliance failures during regulatory exams can come from a variety of sources, whether it’s incomplete requirements knowledge, a broken regulatory change management process, or just inefficient policies and procedures. This whitepaper details how an all-encompassing “Compliance Program Management” system can help you address such gaps, and ultimately achieve regulatory readiness and accountability across your organization.
    Europe’s AML regulations…more changes on the horizon?
    (Published April 17, 2017) Just when you thought it was all over, Europe’s anti-money laundering regulations are likely to change again. The 4th AML Directive comes into effect this June, but already the authorities are talking about future amendments. Michael Imeson explains.
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