New course – SMCR: The Senior Managers and Certification Regime
Since 2019, all FCA-regulated firms are required to comply with the Senior Managers and Certification Regime (known as SMCR, or SM&CR) a program designed to raise standards of conduct for everyone working in financial services. Formulated after the financial crisis of 2008, SMCR provides a framework for firms to: Encourage all staff to take personal […]
Why workplace training is key to supporting LGBT staff
Following a recent survey by YouGov, the TUC has called for the government to introduce a range of measures to support LGBT people at work. Along with pay gap reporting, which indicates that LGBT workers are paid 16% less (effectively £6,703 per year), the government is being urged to consult with unions to protect LGBT […]
Latest on Corporate Criminal Offences Investigations Under the Criminal Finances Act
Companies being investigated for failure to prevent facilitation of tax evasion The Criminal Finances Act, which came into force in September 2017, introduced the requirement for businesses to have reasonable procedures to prevent the facilitation of tax evasion. If you do not feel that your organisation complies with the Criminal Finances Act, it is important […]
LSAG guidance approved by the HM Treasury
The Legal Sector Affinity Group (LSAG) guidance has now been approved by HM Treasury, although this comes with some changes to the original guidance issued in 2021. This specific regulation sets out that when judging whether a legal practitioner or practice has committed an offence by not following the regulations, the court must decide whether […]
Download your ESG guide to GRI (Global Reporting Initiative)
Far from a buzzword, ESG is fast becoming the standard for businesses to manage and report on their risks. ESG: environmental, social and governance, are essentially the broadest set of factors which can be used to measure a company’s impact in the world. ESG reporting and ratings drive a huge and growing amount of investment. Deciding […]
Why workplace education is key to supporting LGBT staff
Following a recent survey by YouGov, the TUC has called for the government to introduce a range of measures to support LGBT people at work. Along with pay gap reporting, which indicates that LGBT workers are paid 16% less (effectively £6,703 per year), the government is being urged to consult with unions to protect LGBT […]
Increased SRA fines and recent disciplinary decisions to be aware of
SRA increased fining powers by more than 10x The SRA has been granted approval from the government to increase regulatory fines from £2,000 to £25,000. The SRA also plans to introduce a new system of fixed penalties for lower-level breaches, with the goal to reduce the number of cases passed on to the Solicitors Disciplinary […]
Money laundering for payment providers and art market participants
Upcoming changes to the UK’s anti-money laundering regime – Part 1 In July 2021, HM Treasury launched a new AML consultation entitled ‘Amendments to the Money Laundering Terrorist Financing and Transfer of Funds Regulations 2017’. This consultation outlined ways in which the government intended to amend the UK’s money laundering regulations (MLRs) with several time-sensitive […]
Reduced workforce? Here’s 5 health and safety areas you need to revisit
Maintaining health and safety standards in the new working world In 2022, a growing number of businesses have moved, or are in the process of moving, to a hybrid working model. As such, employers now have staff working from various locations, coming and going between home and the workplace. On top of this, staff shortages […]
Upcoming SRA AML survey: Make sure you’re prepared!
On your marks, get set and complete your SRA AML Questionnaire! The deadline for completing the mandatory SRA AML survey is 31 July. If your firm does work that falls within the scope of the Anti-Money Laundering Regulations 2017, your COLP should by now have received an email from the SRA asking you to complete […]
