The way in which financial service firms make, document, and justify decisions on account access continues to be an area of focus for regulators, and is also high on the political agenda.

With the legislative and regulatory landscape continuing to evolve, it is critical that firms remain attuned to these changes and adapt their policies, processes, systems and controls where required.

In this article, Imogen Cronin summaries the key findings from the FCA’s recent report “UK Payment Accounts: access and closures”.

Read the full paper here: Account access and closures

——-

Plenitude has supported a broad range of financial institutions to help them comply with their regulatory obligations and reduce their financial crime risk exposure, by providing deep subject matter expertise, advisory and transformation services. Appointed to the FCA’s S166 Skilled Persons panel for Financial Crime, Plenitude is uniquely positioned to support firms in managing the impacts of these changes.

To discuss how we can support you, please contact us at enquiries@plenitudeconsulting.com