City Limits: FCA Compliance for Financial Businesses – 2nd Edition

More than 56,000 financial businesses – from stockbrokers and independent financial advisors to credit card companies and hedge fund managers – are authorised and regulated by the Financial Conduct Authority. These firms vary widely in the activities they carry on and the types of clients they serve. What they all have in common is an obligation to comply with an extensive and sometimes complex financial regulatory framework. This user-friendly book is for lawyers, compliance professionals and senior managers tasked with advising on or overseeing regulatory compliance for FCA-authorised firms. It offers succinct synopses of bedrock topics within FCA compliance, covering supervisory processes, a firm’s systems and controls, and conduct of business. New in the second edition: Senior Managers and Certification Regime MIFIDPRU prudential framework Covid-19 regulatory intervention Onshored versions of EU-derived laws and regulations ABOUT THE AUTHOR James Brilliant is a financial services regulatory lawyer and partner in an international asset management firm. He has held senior legal and compliance positions in the financial sector since 2012. Before that, he was in private practice at Fred Philpott’s chambers in Gough Square and then law firms Shearman & Sterling and Kirkland & Ellis. CONTENTS Chapter One – Introduction Chapter Two – Abbreviations PART A – SUPERVISORY PROCESSES Chapter Three – FCA Authorisation Chapter Four – Senior Managers and Certification Regime Chapter Five – Regulatory Supervision Chapter Six – Enforcement PART B – SYSTEMS & CONTROLS Chapter Seven – Governance and Staff Organisational Requirements Chapter Eight – Operational Infrastructure Chapter Nine – Financial Controls Chapter Ten – The Second and Third Lines of Defence PART C – CONDUCT OF BUSINESS Chapter Eleven – Treating Customers Fairly Chapter Twelve – Website, Publicity and Marketing Chapter Thirteen – Sector-Specific Regimes Epilogue – On the Horizon