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If you work in compliance you will not want to miss our new podcast series. The Compliance Files is a unique podcast series, giving you access to industry insights and key perspectives on how the evolving regulatory landscape is driving change, challenge and opportunity for compliance professionals everywhere.
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Thursday Mar 03, 2022
Thursday Mar 03, 2022
Safeguarding is the process by which regulated firms providing payment services protect customer funds. The purpose is to ensure that funds are always ring-fenced such as in the liquidation of a firm to ensure customer funds are not co-mingled with operational funds and claims of customers will be met in priority. Safeguarding is subject to stringent legal requirements compelling firms not just to safeguard customers funds but to ensure controls around safeguarding are robust. Kathy Jacobs, former Compliance Institute President, speaks to Alison Donnelly, Director in fscom and Russell Burke, an independent payments consultant, on the origins, challenges and upcoming developments in safeguarding.
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