Bovill Newgate

As we kick off the new year, we look back at insights from Bovill Newgate’s December edition of its Asia newsletter, packed with key updates for firms navigating the regulatory landscape:   🇸🇬 Singapore: AML enforcement and conflicts of interest guidance 🇭🇰 Hong Kong: Market soundings update and OTC reporting changes 📖 Thought Leadership: Standout reads from our Risky Women writing competition Read more below and subscribe to stay ahead in 2025!

We’re looking forward to attending the AIMA Middle East Forum in Dubai on 11 February 2025 as a Bronze sponsor. The event brings together industry leaders to dive into key topics, such as the Middle East’s global influence, investing in the UAE, digital assets and AI, and practical guidance on setting up and growing your business in the region. Our regulatory compliance expert Rebecca Thorpe will be there to connect and discuss how we’re helping firms tackle regulatory challenges. Get in touch if you’d like to arrange a meeting at the event or another convenient time. Get all the event details here: https://lnkd.in/en7br_U7 #AIMAMiddleEastForum

🇬🇧 As we kick off 2025, we’re reflecting on key regulatory insights from Bovill Newgate’s December UK newsletter. From the fifth anniversary of SMCR to the FCA’s latest Market Watch, this edition explores key regulatory updates and challenges firms continue to face. We also discuss final guidance on transaction delays in suspected fraud cases and celebrate standout pieces from our GRC writing competition in partnership with Risky Women. A must-read as we reflect on the past year and prepare for what’s ahead!

With over £14.6 trillion in assets under custody, it’s no wonder the FCA is sharpening its focus on this critical sector. In their latest supervision strategy update, the FCA identifies six key risks you need to be aware of: 📉 Falling standards 🤝 Third-party risk 🔄 Change management 🚨 Sanctions, systems, and controls 🛡️ Cyber resilience 📜 Depositaries Vessy Reid (née Mihovska) unpacks the details here: https://lnkd.in/ersqHC9A

We're excited to feature articles from the 2024 Risky Women Writing Competition, presented in partnership with Risky Women. In Liz Berger's article, she explores the evolving role of women in Governance, Risk, and Compliance (GRC), shining a light on their unique contributions, the pioneers who have paved the way, and the ongoing challenges women face in this space. Catch her powerful insights here: https://lnkd.in/eY4YWzyJ #RiskyWomen #GRC #FemaleVoices

The US Court of Appeals has reinstated the Corporate Transparency Act (CTA), effective December 23rd. In response, FinCEN has extended certain deadlines to help entities comply:   - Entities formed or registered before January 1, 2024, now have until January 13, 2025, to file.   - Entities registered between September 4, 2024, and December 23, 2024, also have an extension until January 13, 2025.   - New entities formed between December 3rd and December 23rd, 2024, have an additional 21 days to submit their initial BOIR.   Stay informed and make sure your filings are up to date – reach out to the team for more information. Portia Amato   #CorporateTransparencyAct #FinCEN #Compliance

Celebrating female voices in GRC! We’re proud to feature articles from the 2024 Risky Women Writing Competition ✍️ A standout piece, Tina Chugani’s article, "Making a Difference: How GRC Enables Meaningful Work," redefines GRC as a force for good, highlighting its role in fostering ethical practices, protecting communities, and driving sustainability. Don’t miss Tina’s piece here: https://lnkd.in/eE6DHEpe #RiskyWomen #FemaleVoices #GRC #WomenInGovernance #EmpoweringWomen

The FCA has been taking a closer look at the competence of candidates holding senior management roles. Our latest article explores the three major areas of assessment focus, so you can identify appropriate candidates and minimise the time and effort spent on applications. #SMF #financialservices #regulation #compliance

The FCA's final guidance on enabling a risk-based approach to payments is here, addressing issues for PSPs navigating Consumer Duty and AML/CTF obligations. Ben Arram Terry Rugg Layla Abdel-Spence and Anastasia Krasin take a closer look at the guidance and some of the unanswered questions including: ➡️ How should PSPs operationalise these requirements effectively? ➡️ What steps can be taken to minimise disruptions to legitimate payments? ➡️ How can firms mitigate the financial risks of delayed payments, including interest and charges? #FCA #ConsumerDuty #AML #Payments #PSP

Rebecca Thorpe recently featured in the FT Live panel on 'New Crypto Regulations: Building a Better Financial System' discussing: ➡️ How should firms prepare for the full implementation of MiCA and DORA, and the new opportunities this creates ➡️ What the regulations mean for non-EU companies operating in Europe ➡️ How firms can adjust custody and security practices, and evaluate third-party providers ➡️ The long-term impact on the global growth of digital markets You can now pick up the whole-session on demand (requires free registration) at https://lnkd.in/eUZrYTgJ