EVENT: FCA Executives Brief Arab bankers on regulatory expectations
Date: 24th May, 2018 Time: 10:30 am - 12:30 pm
Five executives from the Financial Conduct Authority (FCA) came to the ABA offices on 24 May to brief the London Arab banking community on recent regulatory developments and current expectations.
The ABA regularly arranges such meetings with both the FCA and with the Prudential Regulation Authority. The meetings are held under the 'Chatham House Rule' so details of the discussion cannot be disclosed.
The five FCA executives were:
Lucinda Hartley, Manager, Wholesale Banking
Ted McDonald, Technical Specialist, Wholesale Banking
Michael Lloyd, Senior Advisor, Wholesale Banking
Edmund Weighell, Senior Associate, Wholesale Banking
Jeremey Tizard, Manager, Financial Crime Specialists Division
Key points of the discussion included regulatory expectations on PSD2; current FCA thinking on cyber risk and operational resilience for small banks; updates on the FCA's financial crime programme, including its programme of visits to banks; ways in which the FCA measures the effectiveness of banks' financial crime training; and advice on good practices for documenting banks' annual Senior Management Function fit & proper assessments.
Twenty London Arab banks (subsidiaries and branches) were represented at the meeting, including several CEOs and numerous compliance officers.
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