February 16, 2023

The Consumer Credit Act 1974 (CCA) is a significant piece of legislation that regulates credit agreements, such as personal loans, overdrafts, and credit card purchases. However, the CCA has undergone numerous changes over the years, resulting in a fragmented and complex consumer credit framework that is difficult to navigate.

The European Parliament has decided to approve a set of rules to enhance the EU's anti-money laundering and terrorist financing tools, with a specific focus on the cryptocurrency business. The regulation mandates the implementation of heightened due diligence protocols and identity verifications for customers. Obligatory entities, including cryptocurrency asset managers and institutions, are required to notify Financial Intelligence Units (FIUs) or other competent authorities of any suspicious activities. An elevated degree of due diligence is being applied to the cryptocurrency sector.

May 15, 2021

Virtual asset service providers have been defined as a new financial sector facing significant money laundering and terrorist financing risks.

July 28, 2021

The Financial Conduct Authority (FCA) issued a warning to retail banks in May 2021 (made public on 29 June) over continued weaknesses and failings surrounding their financial crime controls.

November 23, 2022

Changes to the Appointed Representatives regimes will take effect from 08 December 2022. The final rules were published in the Financial Conduct Authority’s policy statement to improve the appointed representative's regime.

In response to evolving regulatory landscapes and recent global events, the Financial Conduct Awareness (FCA) has unveiled proposed updates to its Financial Crime Guide, CP24/9. The revisions aim to enhance sanctions systems, address proliferation financing, and refine transaction monitoring with a focus on modern technologies like Artificial Intelligence and cryptoassets. With these updates, the FCA seeks to fortify financial crime prevention measures and ensure firms are well-equipped to meet new challenges. As firms adapt to these changes, MEMA Consulting stands ready to offer expert guidance and tailored support, helping businesses align with FCA's stringent standards and navigate this complex regulatory terrain effectively.

April 20, 2023

The Financial Conduct Authority (FCA) has highlighted its focus on ensuring good consumer outcomes in its latest Business Plan, selecting 'putting consumers' needs first' as one of its four priority areas for the upcoming year. This comes in response to the ongoing cost of living crisis, and the FCA is committing additional resources and headcount to Consumer Duty-related activities.

September 26, 2022

The common question we receive when firms are deciding whether to get authorised or not as an FCA regulated firm is how much will it cost?

April 11, 2021

In a recent post, the FCA has released its views urging Claims Management Companies and High Cost Lenders to work better together

July 17, 2025

This week’s FCA updates focus on growth, governance, and global cooperation. A record £42 million fine against Barclays underscores the FCA’s uncompromising stance on financial crime controls.

February 6, 2023

Compliance control monitoring is a crucial aspect of maintaining regulatory compliance for financial firms. The Financial Conduct Authority (FCA) requires firms to have robust controls and monitoring systems in place, and it is up to individual firms to implement these measures effectively. In this article, we will discuss the steps that firms can take to conduct compliance control monitoring.

May 12, 2025

The FCA's recent activities highlight its focus on several key areas: conduct and culture, tech adoption, data and reporting efficiency, and global reach. The blog emphasizes that firms should proactively align with these themes to prepare for future supervision.

November 19, 2024

Understand the UK's proposed regulation of 'Buy Now, Pay Later' lenders and what financial firms need to prepare for. Insights from MEMA Consultants.

October 15, 2021

As an institution with financial services activities, you are likely to require authorisation by the FCA.