Welcome to our Winter Newsletter

January 2023

Dear Clients and Partners, 

Welcome to our first Newsletter for 2023 and here's wishing you all the very best for a happy and healthy year!

Looking back, 2022 had many highlights for My Compliance Centre. We were delighted to be awarded Best Compliance Management System at the Compliance Register awards in September, a great recognition for the hard work of our team. We were also delighted Sunil Sehdev joined us as CEO at the end of the year. 2023 is a year we are looking forward to with renewed energy and enthusiasm as we look towards the ongoing growth of the company.

Within the newsletter, in 'Meet Our CEO' - Sunil Sehdev gives us a glimpse of his key focus areas for this year and what he believes will drive the take up of compliance management software in the future.

In our featured article, They are looking in the wrong place’, Ben Mason, Founder of My Compliance Centre, compares the cost of what he calls ‘the biggest Regulatory scandal since the credit crunch’, with the cost of other high profile market failures, such as the recent collapse of FTX and concludes that it is just possible the authorities are looking in the wrong place in their attempt to fix the market.

 

 

The FCA and the ICO, two critical regulators for everyone reading this article, have both recently laid out a vision for the future. Their vision is very different, however, and comparing the two offers a stark reminder of the pressure the FCA is under and is transferring to regulated firms.  Two regulators, two approaches compares the FCA and ICO’s respective approaches.

The FCA, in particular, has had a very busy 2022, in every sense. Our quarterly summary, Regulator Watch, is a high level analysis of what regulators have been up to, enforcement, supervision and their overall activity, juxtaposed with Ben Mason’s opinion and insight on the last quarter’s regulators activities.

Our regular features include:

 

Wishing everyone all the best for the new year.

Ben Mason, Founder, My Compliance Centre

E:[email protected]

T: +44 (0) 20 8017 8273

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Best Compliance Management System - Compliance Register awards in September 2022

Regulator Watch Q42022 - The busiest quarter so far!

We like to keep an eye on our primary regulators and what they are up to. Using our automated regulatory data feed, we've analysed which regulators are most active and the standout notification of this quarter.

Read Article Here

 

 

Featured Article

The biggest Regulatory scandal since the credit crunch!

Read Feature Article Here

 

 

 

Platform update

We are pleased to share Our System Status and New Features Update. This overview also covers some of the numerous feature upgrades coming to My Compliance Centre soon.

Read more about our system here

Article

The FCA and the ICO, have both recently laid out a vision for the future, with two very different approaches.

Read full article here

QUOTE OF THE QUARTER

11 January 2023

Our quote of the quarter reflects something we have comments on often – the need to regulate crypto currencies like other parts of financial services. 

Numerous luminaries argue that cryptos should not be regulated – and given ten years of inactivity by the British government, implicitly they agree.

However, Sir Jon Cunliffe, Bank of England Deputy Governor, sees it differently and articulates very clearly just one of many angles as to why crypto currencies should be regulated:

“We had banks and investment funds and others who wanted to invest in it and I think we should think about regulation before it becomes integrated with the financial system and before it becomes a systemic problem.”

Bank of England Deputy Governor Sir Jon Cunliffe

 

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