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Articles by Cheryl Jones
THEVGPRO Builds a Digital Financial "Reserve Trust Layer" to Reshape Global Trust Order with Real Assets
New York, USA, Nov. 12, 2025 (GLOBE NEWSWIRE) -- U.S. compliant fintech organization THEVGPRO has officially launched the "Digital Reserve Program," aiming to establish a foundational trust layer for global digital finance composed of verifiable on-chain real assets. The initial reserve assets include Bitcoin (BTC), Ethereum (ETH), and mainstream stablecoins USDC and USDT.
Jack Henry’s 2024 Strategy Benchmark: 6 Key Takeaways to Help Your Strategic Planning
3 minutes Credit union and bank CEOs share their top priorities for 2024 and 2025. Sponsored by CUES Supplier member Jack Henry™. Amid rising competition and volatile market conditions, credit unions are under pressure to increase profitability, address non-interest income concerns and find innovative ways to attract new business and nurture existing relationships.
Member Insights: 3 Digital Banking Essentials
3 minutes Providing members with the tools they desire begins with investing in a digital banking platform that prioritizes their interests. Sponsored by CUES Supplier member Alogent. When credit unions step up their digital banking game, they're not just upgrading technology—they're building stronger bonds with members and upping their service. But before splurging on fancy tech, it's crucial to know what your members really care about.
Strengthening Risk Management in Light of Recent Bank Failures
4 minutes What your credit union should learn about risk and liquidity from First Republic, Republic First and other bank seizures A nearby house fire caused by the lack of fireproofing might prompt a family to install fire-resistant materials inside their house, update smoke detectors and sprinklers, and perform recurring maintenance to the furnace and any other equipment that could start a fire.
Stand Up and Lead Others to Value Everyone
8 minutes 8 concrete ways to do the right thing and reap the business benefits. Only 4% of the members of Gen Z are credit union members, according to an article by CUESolutions provider PSCU/Co-op and pymnts.com. “And that’s a problem,” the headline of the article asserts. Why is that a problem? It’s a problem because over the next 20 years, $84 billion will be transferred from older generations to younger people—and Gen Z is clearly not bringing those assets to credit unions.
Law Society concerns over legal aid provision in Wales leads to government intervention
Following concerns raised by the Law Society of England and Wales and local practitioners about legal aid in West Wales, the Ministry of Justice (MoJ) has intervened by uplifting police station fixed fees in Llanelli. Duty solicitors who were covering Amman Valley, Carmarthen, were facing a dramatic reduction in their fees due to a change in custody suites last month.
The Five Key Elements of an Effective Audit Program
4 minutes How do you know if your ‘third line of defense’ is strong enough? There’s a reason that internal auditors are called the third line of defense. They ensure your credit union’s operations are safe and compliant. But how do you know if your defense is strong enough? Regardless of whether your credit union has an internal audit function or uses an audit firm, an audit program needs five key elements. I’ve outlined them here.
Creditworthiness and affordability at the forefront of FCA’s agenda
Clare Hughes, a partner in the Commercial team at Eversheds Sutherland, considers the Financial Conduct Authority’s (FCA) proposed changes to its rules and guidance on assessing creditworthiness in consumer credit. She advises that firms should review and amend their assessment methodologies, policies and procedures, and obtain senior level approval of the approaches being taken.
FCA Chair John Griffiths-Jones leaves the regulator in good shape
The FCA’s Annual Public Meeting 2017, The QEII Conference Centre, London 18th July 2017 The fourth annual public meeting of the Financial Conduct Authority (FCA) was opened by FCA Chairman, John Griffiths-Jones acknowledging that “the period had been an uncertain one for parts of the financial sector.” This was due in part by Brexit, however, Mr Griffiths-Jones was unequivocal in stating it would not derail the objectives of the FCA as “there is a significant amount to deliver regardless.”...
Robo Branches, the Next Big Thing?
In a recent The Financial Brand article, Jeffry Pilcher, CEO, writes about Bank of America’s new “robo branch” concept. These unstaffed branches utilize an ATM and video conferencing within 1,000 to 1,500 square feet. Customers can set up meetings with staff remotely and then use the conference room when they arrive. A digital ambassador will be present at robo branch openings to make customers more comfortable with the new concept. This concept has been tried in the past.
Brexit and the future of the Capital Markets Union
Banking & Finance analysis: Peter Workman, partner at PwC, discusses the impact of Brexit on the UK’s participation in the Capital Markets Union (CMU) project. What is the CMU? CMU is an initiative launched by the European Commission back in 2014.
Brexit and the Crown dependencies—Jersey | LexisNexis Blogs
Public Law analysis: What impact will the vote to leave the EU have on the Crown dependencies? Guy Coltman, partner, and Paul Tominey, associate, in Carey Olsen’s Jersey office, consider the key concerns of Jersey’s Government regarding the Brexit negotiations, and explain why any resulting downturn in the UK economy could have implications for Jersey. What are the key concerns for Crown dependencies and overseas territories in light of the EU referendum result?
Reviewing the delegated acts on MiFID II and MIFIR
Financial Services analysis: Michael McKee, partner at DLA Piper, explores the European Commission’s delegated regulations on the Markets in Financial Instruments Regulation (MIFIR) and the Markets in Financial Instruments Directive (MiFID II), examining what these developments will mean for the UK. What are the key provisions contained in the delegated acts that would have the biggest impact on the way UK financial institutions organise their business?
Libor manipulation and defining dishonesty
Discussing the recent Barclays Libor trial, Charles Bott QC, head of Carmelite Chambers, suggests that the most interesting—and unresolved—issue is the extent to which the manipulation of Libor and other financial benchmarks was part of unspoken banking policy at the time. Briefly, can you describe the background to and the result of the Libor trial? This was the third criminal trial for Libor manipulation in the UK.
MiFID II delegated Regulations—market liquidity, trade transparency and product intervention | LexisNexis Blogs
Financial Services analysis: Following the adoption of a number of delegated Acts containing implementing and regulatory technical standards, Simon Lovegrove, head of financial services knowledge global at Norton Rose Fulbright, examines the key provisions which will impact on the way UK financial institutions organise their business.
What’s changing in relation to price comparison websites?
Financial Services analysis: George Mallet, barrister at Henderson Chambers, considers the changes introduced by a recent Financial Conduct Authority (FCA) policy statement on price comparison websites. Original news Final FCA rules for price comparison websites, LNB News 26/05/2016 108 Following a consultation, the FCA has issued the final text of its rules and guidance for price comparison websites (PCWs) comparing high-cost short-term credit (HCSTC) products.
The Action Plan—tackling money laundering and terrorist funding | LexisNexis Blogs
Corporate Crime analysis: What are the main practical issues with implementing and enforcing the government’s Action Plan? Zia Ullah, partner, and Victoria Turner, associate, in the financial services disputes and investigations team at Eversheds, explore some of the key issues. Original news An Action Plan published by the Treasury and the Home Office sets out the government’s plan to stop money laundering and the funding of terrorism.
Will the Mortgage Credit Directive benefit consumers?
Will the Mortgage Credit Directive benefit consumers? Why is the Law Society concerned about the effects of the Mortgage Credit Directive (MCD) and the Financial Conduct Authority’s (FCA’s) proposals for implementation? Charlotte Eborall of 3 Verulam Buildings, explains the background to the MCD and the FCA’s proposals and discusses the Society’s concerns surrounding lenders’ binding offers. What’s the background to these rules?
Preparing for UCITS V and VI
What’s the current status of UCITS V and VI? Imogen Garner, partner at Norton Rose Fulbright, says practitioners need to understand the new requirements of UCITS V and should be evaluating its impact on their clients’ businesses—particularly those with clients in the asset management, custodian and depositary spheres. What is UCITS V? UCITS V (Directive 2014/91/EU) is an EU Directive which makes a number of reforms to the rules governing UCITS funds and their management.
The FCA’s Martin Wheatley has Unfinished Business
By Cheryl Jones Original news The FCA’s Annual Public Meeting 2015, The QEII Conference Centre, London 22nd July 2015 What were the key points to take away from the Financial Conduct Authority’s (FCA’s) annual public meeting? ‘Another year of solid progress’ said FCA Chairman John Griffith-Jones, but there remained ‘a continuous quest for further improvement’.
Consumer protection--statutory wording and contractual effect
What rights do consumers get when a lender uses documentation compliant with the Consumer Credit Act 1974 (CCA 1974) for loans outside the scope of the Act? David Bowden comments on the submissions made to the Court of Appeal in the expedited Northern Rock appeal. Northern Rock Asset Management Plc (NRAM) v Jeffrey McAdam & Ann Hartley A3/2015/0150 What is the background to this case?
Inside information: predicting the direction of price movement and insider dealing
In this month’s Butterworth’s Journal of International Banking and Financial Law, Oliver Pegden, a Senior Associate in the regulatory investigations and financial crime team at Clifford Chance in London, looks at the case of Jean-Bernard Lafonta v Autorité des marchés financiers (case C-628/13), 11 March 2015 and discusses its potential relevance to cases of insider dealing. Click here to download the article
FCA Merrill Lynch fine—pour encourager les autres? | LexisNexis Blogs
To what extent is the Financial Conduct Authority’s (FCA’s) recent penalty against Merrill Lynch a warning to other firms about the consequences of transaction reporting failures? Rosali Pretorius, partner at Dentons, tells us why firms should be particularly concerned about this outcome.
The dangers of informal advice
In what circumstances can a casual conversation turn in to legal advice? We ask a panel of experts for their thoughts on how lawyers can navigate around the perils of informal advice. The panel Peter Steel, partner at Bevan Brittan LLP Richard Moorhead, Professor of Law and Ethics at University College London Mark Stobbs, director of legal policy at the Law Society When does a chat down the pub turn in to legal advice?
Serious Crime Act 2015—an overview | LexisNexis Blogs
What do the provisions of the Serious Crime Act 2015 (SCA 2015) tell us about the development of the regulatory environment in the UK? Daniel Hudson, partner at Herbert Smith Freehills, explores the key provisions of SCA 2015. Original news Serious Crime Act 2015, LNB News 04/03/2015 101 What are the key changes that will arise as a result of the coming into force of SCA 2015? There are two principle changes of interest from a corporate crime perspective.
Scope of fiduciary duties extended to cover credit brokers
Scope of fiduciary duties extended to cover credit brokers In what circumstances will the court request for the disclosure of commission? Adam Finch, litigation partner in Harrison Clark Rickerbys, comments on the effect of the recent Court of Appeal judgment in McWilliams v Norton Finance. Original news McWilliams v Norton Finance (UK) Limited (in liquidation) [2015] EWCA Civ 186 This appeal was heard by the Court of Appeal on 2nd December 2014.
All change for consumer credit guidance?
What could a new Financial Conduct Authority (FCA) consultation on amendments to its consumer credit regime mean in practice? Harriet Milburn of Addleshaw Goddard LLP examines the detail of the proposals. Original news FCA proposes consumer guidance changes, LNB News 24/02/2015 79 Proposals on changes to consumer guidance on credit broking, guarantor lending, high-cost short-term credit, financial promotions, arrears, default and collection and mortgages are set out in a consultation from the FCA.
Preparing for MAR
What’s next for the EU Market Abuse Regulation? Anne Kirkwood, professional support lawyer at Herbert Smith Freehills, explains the new technical guidance. Original news ESMA clarifies market abuse requirements LNB News 03/02/2015 121 Enhanced disclosure of managers’ transactions under the Market Abuse Regulation (EU) 592/2014 (MAR) is clarified in technical advice submitted to the European Commission by the European Securities and Markets Authority (ESMA).
Reclaiming funds following fraud
How can victims of fraud trace and claim monies they paid into an investment scheme which later became fraudulent? Ian Wilson and Pia Dutton, both barristers at 3 Verulam Buildings, discuss the Chancellor’s guidance on the means and mechanisms by which such monies should be recovered in his decision in the case of the National Crime Agency v Robb.
Regulating financial benchmarks
Regulating financial benchmarks The Financial Conduct Authority (FCA) recently published a consultation paper seeking views on its proposed regulation of seven additional benchmarks. Tom Dane, a partner at Nabarro LLP, takes a look at the proposals and their potential ramifications.
FCA’s proactive pledge
Is this the dawn of a new era for the Financial Conduct (FCA)? Michael Cotter of Regulatory Legal assesses the FCA’s proposed new proactive approach in light of feedback from firms. Original news Firms’ feedback drives FCA action on retrospection in the market, LNB News 22/01/2015 199. To achieve its aim of becoming more forward-looking, the FCA plans to improve the way in which it identifies issues and problems in the market, allowing it to intervene at an earlier stage.
Promoting consumer interests in the cash savings market
What impact will the Financial Conduct Authority’s (FCA’s) new report on the cash savings market have on lenders? Tim Dolan, partner in the financial markets department at King & Wood Mallesons and Helen McEwan, a trainee in the department, assess the report.
Payments regulation—the shape of things to come | LexisNexis Blogs
Will a new regulatory framework for payment systems in the UK lead to a world class payments system? Original news New Payment Systems Regulator consults on how it intends to regulate. The new Payment Systems Regulator (PSR) has set out how it proposes to regulate the £75trn payments industry when it becomes operational on 1 April 2015.
Financial Services—a look forward to 2015 | LexisNexis Blogs
Our panel of experts considers the cases, legislation and trends likely to affect financial services lawyers and their clients in 2015. The experts Duncan Black, partner, contentious financial services, Fieldfisher Jon Holland, partner and co-head of the global financial Services Litigation team, Hogan Lovells Nathan Willmott, partner, financial services investigations and head of the commercial dispute resolution group, Berwin Leighton Paisner What are the key cases and legislation for 2015?
Financial Services—a review of 2014’s legislation | LexisNexis Blogs
Our panel of experts examines the impact of 2014’s legislation on financial services lawyers and their clients. The experts Duncan Black, partner, contentious financial services, Fieldfisher Jon Holland, partner and co-head of the global financial services litigation team, Hogan Lovells Nathan Willmott, partner, financial services investigations and head of the commercial dispute resolution group, Berwin Leighton Paisner What were the key legislative developments of 2014?
Financial Services—a review of 2014’s cases | LexisNexis Blogs
Our panel of experts examines the impact of 2014’s cases on financial services lawyers and their clients. The experts Duncan Black, partner, contentious financial services, Fieldfisher Jon Holland, partner and co-head of the global financial services litigation team, Hogan Lovells Nathan Willmott, partner, financial services investigations and head of the commercial dispute resolution group, Berwin Leighton Paisner What were the most significant cases of 2014?
The five things you need to know about the Fourth Money Laundering Directive
The five things you need to know about the Fourth Money Laundering Directive Original news Anti-money laundering—Commissioner Barnier welcomes progress in Council The use of the financial system for the purpose of money laundering and terrorist finance is prevented by a Directive in a proposed anti-money laundering (AML) package agreed by the European Council.
FATCA Explorer | LexisNexis Blogs
The Foreign Account Tax Compliance Act (FATCA) provisions contained in the Hiring Incentives to Restore Employment Act of 2010 are designed to detect, deter and discourage offshore tax abuses and encourage improved foreign account tax compliance. But how has FATCA been received around the world? This map allows users to navigate the globe and access expert comment from regional experts on the implications of FATCA. To view the FATCA Explorer map please visit http://explorer.lexisnexis.co.uk/
Wonga to make major changes to affordability criteria following discussions with the FCA
Butterworths Financial Regulation Service is written by a team of experienced and well known authors comprising practising lawyers, regulators and academics, and provides detailed, authoritative analysis and clear, practical guidance on the UK financial regulatory system. covering the general principles and rules of financial regulation, as well as an indepth look at specific types of regulated business.
Delivering a Total Member Experience
7 minutes Avoiding having members say 'meh' requires a specific strategy. Gone are the days of treating one member as part of a whole. Today, members demand to be treated as individuals, and they tell credit unions what they want, when they want it, how they want it, and what they are willing to pay—if anything.
Can a borrower be a defaulter if a credit agreement is unenforceable?
Can a borrower be a defaulter if a credit agreement is unenforceable? Can a lender properly register a default with a credit reference agency where a borrower has not made payment under a so-called ‘irremediably unenforceable’ credit agreement? William Hibbert, a barrister at Henderson Chambers, considers the Court of Appeal’s decision in Grace and another v Black Horse Ltd.
Bank directors, shareholders and regulators - Irreconcilable differences?
Welcome to the latest article in the the Journal of International Banking and Financial Law series - "Irreconcilable differences? Bank directors, shareholders and regulators" 2014) 10 JIBFL 623 1 November 2014).
Breaking through the barriers to post-retirement investment
Breaking through the barriers to post-retirement investment Elizabeth Haggis, principal of Excuria Law, analyses the recent Financial Conduct Authority (FCA) interim report on retirement income which focused on the behavioural barriers to effective post-retirement investment by consumers and providers alike.
Approved persons under Solvency II
What will be the regime for approved persons in insurance and reinsurance undertakings under Solvency II? Robert Purves of 3 Verulam Buildings considers the seemingly identical consultations published by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
Cleaning up on dirty money
Are allegations that UK businesses are being targeted by money launderers putting the UK’s reputation at risk? Joseph Kotrie-Monson, managing solicitor in the fraud department at Mary Monson Solicitors, discusses the recent revelations and the actions that need to be taken to protect businesses in the UK.
Could law firms be brought under the FCA’s regulatory regime?
What would it mean if the Solicitors Regulation Authority (SRA) were to withdraw from the Financial Conduct Authority’s (FCA) designated professional body regime for the purposes of consumer credit activities? Ian Cockerill, compliance director of SIFA, says this would have a major impact—not just in respect of consumer credit—but in relation to other hitherto exempt financial services activities.
Wonga - what does it say about the use of FCA investigatory powers?
All change for affordability criteria? 15/10/2014 Financial Services analysis: What could Wonga entering into a voluntary requirement with the Financial Conduct Authority (FCA) mean for other payday lenders? Jacob Ghanty, partner within Berwin Leighton Paisner's financial regulation practice, analyses the significance of the case.
FCA - Debt management firms must raise their game
Butterworths Financial Regulation Service is written by a team of experienced and well known authors comprising practising lawyers, regulators and academics, and provides detailed, authoritative analysis and clear, practical guidance on the UK financial regulatory system. covering the general principles and rules of financial regulation, as well as an indepth look at specific types of regulated business.
Debt recovery—choose your agent carefully | LexisNexis Blogs
The Taking Control of Goods Regulations 2013 came into force in April 2014. Carly Davies who handles debt recovery cases at Cartmell Shepherd, along with Peter Stafford, a partner at the firm, considers the impact of the new rules.
FCA fines in cases with no customer detriment
How lenient will the Financial Conduct Authority (FCA) be when imposing fines where there has been no customer detriment? David Carson, principal of Carson & Co which specialises in financial services law, regulation and compliance advice, says the regulator is punishing not necessarily for actual customer detriment but for the fact that customers were put at risk of losing out as a result of a financial institution’s failings.
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