May 23, 2017

The new EU General Data Protection Regulation (GDPR) will be enforced from May 2018. GDPR will supersede all member states national Data Protection laws. For the UK, this means the GDPR will replace the Data Protection Act 1998.

May 23, 2017

In the Financial Conduct Authority (FCA)s 2017/18 Business plan, it was announced that a review was being prepared targeting the Motor Finance Industry.   The FCA specified “We are concerned that there may be a lack of transparency, potential conflicts of interest and irresponsible lending in the motor finance industry.   We will conduct an…

May 16, 2017

The Provision of Services Regulations 2009 came into force on 28 December 2009. The Regulations apply to the majority of private sector businesses in the UK. They apply to business-to-business and business-to-consumer services.   The Regulations impose obligations on businesses to make certain information available to customers, and to deal with customer complaints promptly. They…

May 16, 2017

National Cyber Security Centre – Updated:  14 May 2017 The latest NCSC guidance on Ransomware The NCSC are aware of a ransomware campaign relating to version 2 of the “WannaCry” malware affecting a wide range of organisations globally. NCSC are working with affected organisations and partners to investigate and coordinate the response in the UK. This…

May 10, 2017

Statements Published: 09/05/2017 Last updated: 09/05/2017 We are aware that fraudsters are sending emails that appear to be from an FCA email address or refer to the FCA in the email subject. You should delete suspicious emails without opening them.

April 28, 2017

Article from ICO 19th April 2017 A finance brokerage firm responsible for sending thousands of spam text messages has been fined £40,000 by the Information Commissioner’s Office (ICO). Monevo Limited, based in Macclesfield, Cheshire, sent 44,172 unsolicited marketing texts promoting loans in three months.

April 28, 2017

by: Jason Morris (Research & Development Manager) for ICT News on Tue Apr 25, 2017   In a recent ICT article, we addressed the issue of de-risking and in particular the effect this is having in the Caribbean. The article referred to the fact that the United States are mostly responsible for the

April 26, 2017

An article from the Financial Ombudsman Services – 11 April 2017   We’ve heard that people are getting fraudulent phone calls again from scammers claiming to be from the Financial Ombudsman Service. The scammers are falsely using our name to try to persuade people to reveal details about their personal and financial circumstances.

April 24, 2017

Welcome to the first compliance newsletter in which going forward we hope to bring you a mix of news views and updates from the Association’s compliance team.   If you do not already have a compliance services provider we would welcome you as a subscriber to our services.   Over the past year member firms…