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PEPs and Sanctions

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Building a Faster, Smarter, Safer Market: Research Report

This research report delves into the challenges posed by the ever-evolving regulatory landscape, which have resulted in decreased process efficiency and compliance impacts. Despite the proliferation of technology, the market remains hesitant to fully embrace regulatory technology (RegTech) solutions. However, businesses that have adopted RegTech have experienced significant benefits in streamlining their compliance operations. How can the market overcome the barriers and leverage technology to thrive in the face of regulatory pressures?

How to Identify Politically Exposed Persons (PEPs): A comprehensive Guide for Insurance Professionals

Conducting Politically Exposed Persons Checks is an important process for firms that work in the insurance and financial services sectors, particularly with the pressure they face by regulators such as the FCA. PEPs screening is also crucial for reducing the risks linked to money laundering, corruption, and other forms of financial misconduct.

Sanctions Screening Tools: How Insurers and MGAs Should Choose One

In today's dynamic financial landscape, regulatory compliance is a necessity for regulated institutions worldwide. Among the myriad compliance challenges, managing risks associated with Politically Exposed Persons (PEPs) and sanctioned individuals demands rigorous scrutiny...

Adverse Media Screening

The insurance industry and the regulatory requirements around counterparty risk is always evolving, and so the obligations to minimise the risk and safeguard customers is becoming much more challenging for insurance companies. In the wake of COVID-19, financial crime continues to increase and whilst not all of these can be stopped, it is crucial they are recognised.

Sanctions Screening and Responsibilities of Insurance Brokers

Regardless of their role in an insurance deal, brokers must verify that their potential clients and trading partners aren't barred from entering insurance transactions. However, carrying out these checks can be a challenging task. What is the impact of the task and responsibilities brokers have and how can they manage risks?

Sanctions and Russia

With the UK government imposing a tranche of sanctions on Russia in response to the situation in Ukraine, make sure you're up to date with UK sanctions obligations. All firms regulated by the Financial Conduct Authority must have appropriate policies in place to make sure they comply with sanctions legislation. This includes carrying out regular and appropriate checks of sanctions lists...