EVENT: FCA Executives Brief Arab bankers on regulatory expectations

Date: 24th May, 2018 Time: 10:30 am - 12:30 pm
FCA Executives Brief Arab bankers on regulatory expectations

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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