Press releases

Insurance firms failing to consider value of the products and services provided to consumers

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The Financial Conduct Authority (FCA) is warning General Insurance (GI) firms about manufacturing, sales and distribution approaches that can lead to customers purchasing inappropriate products, paying excessive prices or receiving poor service.

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Top 20 Firms Collected Nearly $160 Billion in Initial Margin at Year-End 2018, Survey Finds

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ISDA has published its latest margin survey, which shows the amount of initial margin (IM) collected by the 20 largest market participants for their non-cleared derivatives trades continued to rise in 2018.

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Digital Asset and ISDA Introduce Tool to Help Drive Adoption of ISDA CDM

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Digital Asset has today announced that it is working with ISDA to develop an open-source reference code library that will help derivatives market participants adopt the ISDA Common Domain Model (CDM). This new tool will assist developers in implementing the ISDA CDM in solutions for trading and managing derivatives via DAML, the smart contract language created by Digital Asset.

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FCA fines Standard Chartered Bank £102.2 million for poor AML controls

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The Financial Conduct Authority (FCA) has fined Standard Chartered Bank (Standard Chartered) £102,163,200 for Anti-Money Laundering (AML) breaches in two higher risk areas of its business. This is the second largest financial penalty for AML controls failings ever imposed by the FCA.

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ISDA Publishes Asia Derivatives Survey

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Trading volumes in Asia’s derivatives markets are expected to increase, but achieving certainty on close-out netting is identified as an important factor in driving further development of local markets, according to a new survey of derivatives market participants active in Asia-Pacific, published by ISDA to coincide with the start of the 34th ISDA Annual General Meeting (AGM) in Hong Kong.

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UK Financial Conduct Authority and Australian Securities and Investments Commission agree to strengthen cooperation post-Brexit

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The UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) today announced they have agreed two Memoranda of Understanding to ensure there is continuity once the UK leaves the European Union. The MoUs cover trade repositories and alternative investment funds (AIFs).

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Claims management companies enter FCA regulation today

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The Financial Conduct Authority (FCA) begins regulating the claims management industry from today (1 April). All claims management companies (CMCs) in England, Scotland and Wales will now have to demonstrate they meet and maintain minimum standards set by the FCA. All existing and new CMCs will need to apply to the FCA for authorisation.

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The UK Financial Conduct Authority and the US Securities and Exchange Commission sign updated supervisory cooperation arrangements

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The United Kingdom (UK) Financial Conduct Authority (FCA) and the United States (US) Securities and Exchange Commission (SEC) have today reaffirmed their commitment to continue close cooperation and information sharing in the event of the UK’s withdrawal from the European Union (EU).

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Brexit: the FCA confirms final rules for firms

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The Financial Conduct Authority (FCA) has today published its final instruments and guidance that will apply in the event the UK leaves the EU without a deal or an implementation period.

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FCA fines Goldman Sachs International £34.3 million for transaction reporting failures

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Goldman Sachs International (GSI) has been fined £34,344,700 by the Financial Conduct Authority (FCA) for failing to provide accurate and timely reporting relating to 220.2 million transaction reports between November 2007 and March 2017.

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