Financial Sanctions Compliance: FCA Expectations & Effective Controls

Introduction

Regulated firms remain exposed to sanctions risks via their business relationships and activities. The FCA want those they regulate to have adequate systems, controls and oversight mechanisms to prevent, detect and respond to potential non-compliance with the UK financial and trade sanctions regimes.

The FCA have found a number of activities which risk breaching sanctions. This bitesize webinar will explore those activities and explain some of the processes required for maintaining compliance.

What You Will Learn

This short webinar will cover the following:

• Activities which risk breaching sanctions:
• An overview from the FCA’s Good / Poor Practice feedback
• Root causes of the breaches
• Key processes for maintaining compliance:
• Due diligence
• Alert management
• Evasion detection
• Transaction and name screening, and
• Management of frozen assets
• Governance frameworks:
• MI
• Calibration, configuration, and assurance testing