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Our blog explores the latest issues in financial services risk and regulation.

21 February 2017

Asset Management Market Study: Regulatory impact of the FCA interim report

By Amanda Rowland and Andrew Strange The Financial Conduct Authority's (FCA) Asset Management market study interim report has been of particular concern to asset management clients since it was published in November 2016. In this video Andrew Strange, a director in our Financial Services Risk and Regulation Centre of Excellence,...

MiFID II Product Governance: making sense of uncertainty

By Philip Raines and Naveed Rajput Market participants have woken up to the significant amount of change that MiFID II Product Governance will enforce on banks and financial institutions. The regulatory text is broad, complex and left open to interpretation. If banks are to be compliant with European Securities and...

Why diversity and inclusion is a real business risk

By Jon Terry Financial services is all about understanding and taking risks within a firm’s appetite. But an exception is the risks associated with diversity and inclusion, which haven’t generally been recognised sufficiently and have been under-managed. This is perhaps because diversity and inclusion has historically been seen as HR’s...

16 February 2017

How data and technology can be used to restructure costs in insurance claims

By Michael Cook In 2015, £37.4bn was paid out in insurance claims in the UK. This is the largest area of expense for insurers and it is therefore not surprising that claims is a key area of focus for delivering savings. 60% of Insurance CEO's confirmed that they plan to...

01 February 2017

Financial Services Mis-selling: Minimising Risk

If we are to restore the integrity of the global financial services sector steps need to be taken by firms to minimise the risk of mis-selling.

From resilience to improved performance: making the second line pay its way

By Nick Forrest Pressure on bank returns means there can no longer be a blank cheque for capital and compliance costs. The ‘second line’ needs to pay its way as part of an approach that shifts the business focus beyond regulatory compliance to sharpening competitive advantage. Regulatory reforms have helped...

FCA Asset Management Market Study: Governance to drive value?

By Amanda Rowland and Caroline Berryman While we believe that asset managers act as a ‘good agent’, mitigating conflicts of interests and contributing to better outcomes for investors, the interim results of the Financial Conduct Authority’s (FCA) asset management market study may tell a different story for some. The main...

23 January 2017

Being fearless with …a KISS

By George Stylianides I’ve been thinking a lot recently about simplicity and the KISS principle – Keep It Simple Stupid (or keep it short and simple’). The phrase is attributed to the US aircraft engineer, Kelly Johnson, in the 1960s when he told his team of design engineers to remember...

18 January 2017

Asset Management Market Study: Active or passive? Or just transparent and appropriately priced?

By Amanda Rowland and John Newsome The Financial Conduct Authority’s (FCA) focus on performance in active asset management is nothing new. But last month’s asset management market study interim report (MS) further underlined its focus. While active funds generally outperform their benchmark gross of fees, the MS identified that this...

17 January 2017

The underlying impact of REP-CRIM…

The FCA financial crime return (‘REP-CRIM’) came into effect on 31 December 2016. Firms need to be looking at their Management Information (MI) reporting and asking how this can be used and tailored to respond to the 35 REP-CRIM questions on financial crime risk and controls.

Packaged Bank Accounts: Time to Act

By Mark Gossington and Stephen Carr Alarmists were quick to label packaged bank accounts (PBAs) as ‘the new PPI’. While this remains to be seen, PBAs are the second most complained about product after PPI (the Financial Ombudsman received 44,244 complaints last year), prompting the Financial Conduct Authority (FCA) to...

04 January 2017

Soft power: Trusting to culture, governance and risk management

By Andrea Wintermantel As your organisation looks at how to master the new regulatory landscape and its commercial impact, the yardstick for success can’t just be straight compliance. Rather the ultimate aim should be sharpening competitive advantage, given how much has been invested and how much the business still needs...

15 December 2016

Under Construction: Prudential regime for investment firms

The European Banking Authority’s (EBA) discussion paper on proposed capital requirements intends to re-classify the population of investment firms and then redesign the minimum regulatory capital requirements

14 December 2016

10 ways financial services organisations are preparing for the GDPR

Read our GDPR summary for banks, insurers and asset managers

09 December 2016

Asset Management Market Study: Clarity of charges – but a transfer of risk?

By Amanda Rowland and Matthew Bence Even before the Financial Conduct Authority’s (FCA) recent asset management market study there was much debate about the communication of charges to investors. The FCA's 2014 Clarity of Fund Charges review drove a focus on the ongoing charges figure (OCF) as a single charge...

05 December 2016

What would it take for you to ‘be fearless’?

By George Stylianides With RiskMinds just around the corner, this feels like a good time to step back and consider the current state of risk management in Financial Services. The more I look at the financial services (FS) sector, the more I begin to wonder if we’ve forgotten what FS...

30 November 2016

Solvency II narrative reporting: The Story of Goldilocks and the Fire Drill

Pillar 3 often feels like the forgotten Pillar of Solvency II. The stark realisation of how the size, complexity and speed of reporting will impact companies and how quickly the first external public disclosure is coming around.

29 November 2016

Reforming EU banking capital and liquidity requirements, with a flavour of post-Brexit regulation

The European Commission publishes its first proposals for revised rules to calibrate capital and liquidity requirements – in the form of a Regulation and a Directive (CRR II and CRD V), as well as additional amendments to the bank recovery and resolution Directive (BRRD), to implement global standards for total loss absorbing capital (TLAC)..

28 November 2016

Social media and financial services: Time to innovate

Many financial services companies are looking to innovate in the social media sphere; no longer is it just about using social media purely as a communications and marketing tool, it also provides opportunities to deliver services in a completely different way and respond to customer demand.

21 November 2016

Financial crime risk: Time for a rethink

The world of financial crime is extremely active, innovative and dynamic. A threat can come from anywhere – within or outside your organisation. And by definition, the people behind the crimes don’t play by the rules – they just try something and see if it works.