Regulation round-up: Enhanced supervision, Pension Schemes Bill and protection of client money

Regulation round-up: Enhanced supervision, Pension Schemes Bill and protection of client money

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In his latest monthly instalment, David Thomson provides an update on the key regulatory events of the past few weeks...

  The Financial Conduct Authority (FCA) intends to tackle serious failings of standards in firms through a new approach called 'enhanced supervision'. This applies to all firms and is a formalisation of how it supervises in practice: focusing on the root causes of failings in firms. Where a serious failure of standards poses a risk to the objectives of the regulator, and the FCA's normal approach may not enable it to tackle these issues in a timely way, the firm will be made formally subject to enhanced supervision. Indicators of the kind of failings that will prompt a firm to be p...

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