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16 November 2018 Financial Service Intelligence Watch

Maintaining market confidence: an update on Brexit

The UK's Financial Conduct Authority (FCA) has released a speech providing an update on Brexit and any potential regulatory fallout stemming from a deal, or no deal.

Speaker: Nausicaa Delfas, Executive Director of International
Event: City and Financial: 3rd UK Financial Services Brexit Summit, London
Delivered: 5 November 2018 ...

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FATF publishes list of jurisdictions with strategic AML and CTF deficiencies

The Financial Intelligence Centre (FIC) has published on its website a Financial Action Task Force (FATF) statement on jurisdictions with strategic anti-money laundering and counter-terror financing deficiencies. Countries with major deficiencies include the Democratic People’s Republic of Korea and the Islamic Republic of Iran. The FIC has advised accountable institutions ...

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Former bankers charged in massive graft case

Legalbrief Forensic

The US Justice Department has announced multiple charges against two ex-Goldman Sachs bankers linked to Malaysia's state investment fund scandal.CNN reports that it said Tim Leissner, the former Southeast Asia chairman, conspired to launder money and violate the Foreign Corrupt Practices Act by paying bribes to ...

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Working Smart

 By Lee Rossini

Andile heads up the administration department of a financial services provider (an FSP). He receives the application forms from the financial advisers after they have recommended a particular product to a client. He picks up that there is a big delay between the financial advisers seeing the client and the forms reaching his department. As a result, he is receiving a lot of complaints about delays. After a brief discussion with a senior manager, they decide that the financial advisers should attend a time-management training programme the following week in the hope that it will solve the problem. Andile outsources the training to a company that specialises in courses of this nature. The financial advisers attend the course and the evaluations indicate that they enjoyed it and anticipate that the newly acquired skills will assist them to perform their jobs better. Andile anticipates an improvement in their performance, but unfortunately this never happens.

What went wrong and why didn’t Andile get the results he was expecting?

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