FINTRAIL’s Post

🚨 Headed to California MBA’s Legal Issues & Regulatory Compliance Conference? Don’t miss Hudson Cook, LLP Partner Jed Mayk on a panel with Nema Daghbandan, CEO, Lightning Docs, and Michael Snelling, Vice President, HUB International, moderated by Kris Kully, Partner, Mayer Brown. The panel will discuss "Hot Topics in Regulatory Compliance and Risk Management." This session is a must-attend for mortgage compliance professionals and legal counsel, covering actionable insights on the NAR settlement, business lending, insurance developments, and more. #RegulatoryCompliance #MortgageIndustry 

The recent prosecution of Sanjeev Gupta and his companies underscores the critical importance of corporate compliance. With over 70 companies facing enforcement action from Companies House and an ongoing Serious Fraud Office investigation, this case highlights the risks of failing to meet financial reporting requirements. At Gannons, we specialise in helping businesses navigate complex regulatory environments, ensuring that your company stays compliant and avoids costly legal battles. Whether it’s corporate governance, financial oversight, or responding to enforcement actions, our expert team is here to provide strategic advice and support. Reach out to us today to safeguard your business against regulatory pitfalls. Compliance is not just about avoiding penalties—it's about protecting your reputation and securing long-term success. #CorporateLaw #Compliance #RegulatoryRisk #LegalSupport

In the auto finance industry, understanding and preventing financial fraud is crucial. One method on the rise is the "straw purchase," where a buyer acquires a vehicle for someone else who may struggle with credit or income. This practice can lead to serious legal issues if not disclosed. Why should businesses care about straw buyer fraud? Straw buying has many detrimental implications on a business such as increased loan defaults, reputational damage, legal consequences, higher cost of risk management and reduced profitability. Staying informed about these tactics is key to protecting your dealership and clients. Check out our latest blog for insights on how to identify and avoid straw buyer fraud: https://bit.ly/3vDkxTy #AutoFinance #FraudPrevention #Compliance #DealershipTips

The FCA contacted the CEOs of Annex 1 Financial Institutions, setting out some of the weaknesses identified and concerns the FCA has in relation to Annex 1 firms. Annex 1 firms must take note of these findings and, complete a gap analysis against each of the common weaknesses the FCA outlined within six months of receipt of the Dear CEO Letter. Waystone has set out a simple summary of the Dear CEO Letter, with guidance on what firms should do next. Please do reach out to discuss how you can deliver these expectations within the timeframe set out by the FCA. 

Whenever we’re asked to provide specialist support to turn around a business, we’re always focused on achieving a positive outcome. Like the manufacturer which discovered evidence of fraud – putting the firm in breach of a loan agreement and 300 jobs at risk. As a result of our involvement, the audited accounts were successfully signed off and the company’s future was safeguarded. #turnaround #financialrecovery #ROI

We’ve seen the fallout from the Financial Conduct Authority investigation into car finance commissions send shockwaves through the industry. 🚘 Without internal expertise, criminal threats and complex regulations can be a challenge. The key is to access specialised consultancy support to ensure you remain protected and compliant. Our latest financial crime blog explores how consultancy firms can support the motor finance industry https://lnkd.in/e5fxeTxv #FinancialConductAuthority #FCA #MotorFinance #Compliance

The recent fallout from the Financial Conduct Authority investigation into car finance commissions has highlighted how important partnering with an expert specialist consultancy is to remaining compliant and protecting yourself against criminal threats.  A partner can support you with: ⭐️Tailored Compliance Solutions ⭐️Guidance on Regulatory Changes ⭐️Risk Management and Mitigation ⭐️Enhancing Transparency and Consumer Protection ⭐️Building Resilience Through Collaboration ⭐️Rebuilding Consumer Trust Our blog shares more details 👉 https://lnkd.in/eu9ahXSa #FinancialCrime #FCA #FinancialConductAuthority #CarFinance

FCA fines PwC £15m over failure to report suspected fraud at LCF The Financial Conduct Authority (FCA) has fined Big Four consultancy PwC for failing to report to the regulator their belief that London Capital & Finance (LCF) might be involved in fraudulent activity, which the FCA said potentially deprived it of useful information. This is the first time the FCA has fined an audit firm. #FCA #PwC #fraud #fines #regulation #audit #TheDESK #minibonds https://hubs.li/Q02LxPJT0

🌟 Did You Know? Navigating Consumer Finance Law for Empowerment🌟 In the realm of consumer finance, knowledge truly is power. One essential tip for everyone to remember is the importance of understanding your rights under the Fair and Accurate Credit Reporting Act (FACRA). The FACRA is designed to ensure the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. It gives you the right to know what information is in your credit report, to dispute incomplete or inaccurate information, and to obtain one free credit report from each credit reporting agency annually. Why is this important? Because your credit report impacts many areas of your life, from loan approvals and interest rates to employment opportunities and rental applications. By understanding and utilizing your rights under the FACRA, you can take proactive steps to maintain a healthy credit score and protect your financial future. 🔍 Regularly reviewing your credit report not only helps you catch and rectify any errors quickly but also guards against identity theft. Remember, your financial well-being isn't just about managing money; it's also about safeguarding your rights and ensuring the information about you is accurate and fair. Stay informed and take control of your financial destiny! 💼✨ get your www.annualcreditreport.com right here #ConsumerFinance #FinancialWellbeing #CreditRights #FACRA #Empowerment #FinancialLiteracy

In the decade that I’ve been in the insolvency business, I’ve noticed that “financial dressing” is actually more common than we might like to think. The standard answer from governments around the world to solve this issue is inevitably the creation of more regulation. However, regulations and laws are pointless if they cannot be enforced. So, how can you enforce things? Well, one common sense idea is to make it safe for people to blow the whistle. - https://lnkd.in/giagMgz2 Blackstone & Gold Mann & Associates PAC Association of Certified Fraud Examiners (ACFE)