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NEWSLETTER: With mid-year only a month away, the FCA has given some guidance on its priorities for the second half of 2025.
The corporate offence of Failure to Prevent Fraud comes into force on 1st September 2025. This means “large” UK firms have only three months to complete their preparations. We’ve laid out three things that you should be doing to get your anti-fraud framework in a good place.
The FCA is proposing to overhaul the UK AIFMD framework, aiming to simplify the rules and boost growth for medium sized fund managers. The rules are designed to help AIFMs grow, compete, and innovate whilst ensuring sensible risk behaviour and consumer protection. Firms affected might also be interested in our upcoming webinar on conflicts of interest, where we’ll be sharing some advice on how asset managers can best handle conflicts and stay ahead of the regulator. Do join us if you are interested.
Although the CASS audit season has ended for many, pushing forward with any remediation should be a priority. Firms who received qualified or adverse findings should be making sure they have a comprehensive remediation plan, realistic timelines and the right team ready to implement any changes.
On the prudential side, a consultation paper on the definition of capital for investment firms (CP25/10) has been published. Some firms have certainly been struggling to navigate the current requirements under UK CRR due to complexity and the sheer volume of text, so this paper aims to simplify things.
On 2nd July we will be running a half day training course in London with NEDs in FS, designed to help non-executive directors understand and be able to challenge their firm’s ICARA.
On the topic of regulatory expectations and board clarity, we’ve gathered some thoughts on how payments firms can build compliance monitoring programmes which manage risk in a way that supports business growth.
Finally, sign up to our next virtual session on compliance monitoring next month, where we’ll dive deeper into how to keep your CMP current and effective, using real client examples.
If you want to discuss any of these updates or events, feel free to get in touch.
Rebecca Thorpe, Global Head of Regulatory Consulting