Regulatory gap analysis: FCA Dear CEO letter for payments firms
The FCA has issued its latest Dear CEO letter, outlining crucial priorities for payment portfolio firms from 2025 onwards. The letter emphasises the importance of:
Keeping Customer Funds Safe: Ensuring that customer funds are protected and managed with the highest level of integrity.
Preventing Financial Crime: Implementing robust measures to detect and prevent financial crime, including money laundering and fraud.
Enhancing Operational Resilience: Building resilient systems and processes to withstand operational disruptions and maintain continuity.
Addressing Emerging Risks: Staying vigilant and proactive in identifying and mitigating new and evolving risks in the financial landscape.
To stay ahead and avoid regulatory scrutiny, it is imperative for firms to align their practices with these priorities.
Our Regulatory Gap Analysis provides a comprehensive review of the letter’s key themes and offers insightful questions to help you identify and address any gaps in your risk management framework. By addressing potential gaps now, you can ensure your firm is well-prepared for future regulatory challenges.
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