Running a Crypto Exchange in the UK? Here’s What the FCA Expects From Your Application
Exchanges are the front door of the crypto market. They’re where most people buy, sell and trade — and they’re where the most high-profile failures have happened. The FCA knows this, and exchange operators applying for authorisation through the September 2026 gateway should expect a higher level of scrutiny than almost any other applicant category. […]
Governance, Systems and Controls: The Three Pillars the FCA Will Assess in Your Crypto Application
When the FCA says it expects firms to “prepare early” for the cryptoasset authorisation gateway, what does that actually mean in practice? It means building evidence across the three areas that the FCA weights most heavily in any authorisation assessment: governance, systems and controls. These are not separate boxes to tick — they are interconnected, […]
The FCA’s Crypto Crackdown Is Coming: What Every Cryptoasset Firm Needs to Know
If you operate a cryptoasset business in the UK — or plan to — the regulatory landscape is about to change fundamentally. The FCA is replacing light-touch AML registration with full FSMA authorisation, bringing crypto firms under the same framework as traditional financial services: governance requirements, prudential standards, conduct rules, Consumer Duty and significantly […]
FCA Cryptoasset Authorisation 2026: What Your Firm Needs to Know Now
The clock is ticking. The FCA has confirmed a five-month authorisation window — 30 September 2026 to 28 February 2027 — for firms to secure or vary their cryptoasset permissions ahead of the new regime taking full effect on 25 October 2027. Whether you’re a new entrant or an existing FSMA-authorised firm, this window is […]
CONSUMER DUTY THE NEXT PHASE
Further to our previous blog on the Consumer Duty implementation plan, which should have been completed at the end of October, we wanted to outline the next steps. If you haven’t completed your implementation plan yet, it is imperative that you do. We can help you catch up the curve, please get in touch. The […]
CRYPTO REGULATION
The Financial Conduct Authority (FCA) is the UK’s main financial regulatory body. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms. The FCA currently has oversight to check […]
PAST CUSTOMER OUTCOME REVIEWS (AND REMEDIATION)
If you suspect, or Management Information (such as Complaint trends) is suggesting, that a product or process may have led to unintentional customer harm or indeed, if the regulator has expressed concerns over your firm’s previous business processes, undertaking a review of past business can reveal exactly where an issue lies, and allow you to […]
HAVE YOU UPDATED YOUR ANTI-MONEY LAUNDERING DOCUMENTS?
The Money Laundering and Terrorist Financing (Amendment) (No.2) Regulations 2022 introduced a requirement for proliferation financing to be considered in Anti-Money Laundering (AML) risk assessments with effect from 1 September 2022. What is proliferation financing? The term ‘Proliferation Financing’ (PF) relates specifically to the proliferation of weapons of mass destruction. This involves financing the manufacture, […]
LHI CONSULTING COMPLAINTS HANDLING ASSISTANCE
WHAT LHI CONSULTING CAN OFFER COMPLAINTS HANDLING RESOURCE AND EXPERTISE LHI Consulting utilise our team of complaints experts (often at short notice) to supplement your operations, no matter how large or small, aligning capacity to current or expected complaint volumes. Our team are experienced, multi-skilled complaint handling professionals. Our engagements include not only the people […]
ARE YOU READY FOR THE FIRST KEY DELIVERABLE OF CONSUMER DUTY REQUIREMENTS?
With just weeks to go before the first Consumer Duty key date (to get an implementation plan in place and signed off by the board by the end of October) and the expected implementation date of July 2023 looming large, firms need to ensure they are not falling behind the curve. Experience has shown us […]