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

20 April 2017

Brexit in Financial Services - a new type of challenge

In this suite of 3 articles, we will explore the challenge of Brexit, then the timescale required for implementing Brexit and lastly the pragmatism necessary to avoid major market disruption.

19 April 2017

What can we learn from the FCA’s business plan?

Sarah Isted The Financial Conduct Authority (FCA) has set out its priorities and agenda for 2017/18 in its annual business plan. The regulator continues a number of themes from its work in 2016/17, while signalling an increasing focus on vulnerable customers, cyber resilience and FinTech. The FCA sets out six...

05 April 2017

Harrowing the ploughed field: addressing capital requirements in UK banking

This article looks at how regulators will address capital requirements as they seek to promote competition in UK banking.

04 April 2017

The impact of the Chief Data Officer being brought into the Senior Managers Regime

By Nick.Bouch and Sarah Isted At the first anniversary of the Senior Managers Regime (SMR), many firms are reflecting on their population of Senior Managers. Some are particularly looking at whether the Chief Data Officer (CDO) or equivalent should join this group of individuals. Data management has gained significant attention...

28 March 2017

MiFID II research: will your firm be ready?

Investment firms are starting to acknowledge that delays to the implementation of their research programmes won’t just jeopardise MiFID II compliance but may also lead to material revenue impacts for their businesses. Buy-side firms are now engaging with research providers to plan for how they will meet their own MiFID II obligations by the deadline.

24 March 2017

Are you aligned when it comes to the GDPR and PSD II?

So what makes a successful implementation strategy for the GDPR and PSDII programs?

21 March 2017

All change: Fast beats slow, not big beats small - How can ‘big banks’ respond as the landscape transforms?

By Martin Roets and Simon Westcott PwC research reveals that while many so-called ‘challenger’ banks do not see themselves as taking on the incumbents, their exploitation of new technology and regulation will nonetheless change the game. How should the big banks respond? Should Britain’s biggest banks be worried? New PwC...

17 March 2017

The critical role of governance, risk and control in the successful implementation of MiFID II

What makes implementation of a governance, policy and control framework for MiFID II successful?

13 March 2017

Who are you calling a challenger? Competition is alive and kicking in UK Banking

By John Lyons Competition in UK banking is alive and kicking after decades of consolidation: no fewer than 19 new banking licenses have been awarded since 2010, with a further eight pending. Our interviews with more than 25 banking CEOs who operate in the ‘challenger segment’ – as well as...

10 March 2017

Asset Management Market Study: broader challenges facing UK Asset Management firms

By Mark Pugh 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,...

08 March 2017

FCA technology and cyber resilience request - five considerations for your response

By Simon Chard Last week a number of our clients received a letter from the Financial Conduct Authority (FCA) asking them to respond to a Technology and Cyber Resilience Information Request. This request seeks to gain insight into the cyber and technology resilience maturity of the FCA’s priority organisations across...

06 March 2017

Brexit, restructuring and the proposed EU Intermediate Parent Company requirement

Banks will need to ensure their structure post-Brexit allows them to continue to serve EU-27 customers and transact with counterparts, while at the same time minimising costly restructuring. In this article we explore the evolving regulatory framework, with important proposals in CRD 5 such as a requirement that non-EU G-SIBs and other large banks being required to form an EU intermediate parent company (IPC).

From regulatory project to business as usual - the key role of transition

Financial institutions have spent the past few years working through enormous regulatory and operational change. There is risk associated with change and firms have turned to project management in order to keep risks under control. But one stage is often overlooked; the transition phase from a project to ‘business as usual’.

03 March 2017

Working with government to make the most of people’s unclaimed assets

By Mark Batten and James Ferris We have been working with the Government to widen the scope of the Dormant Asset Scheme (“DAS”), which could potentially free up billions of pounds for good causes. It’s a unique project, where we are able to offer creative solutions and options aiming to...

24 February 2017

Improving financial wellbeing through fairer customer outcomes

Why financial services industry’s commitment to better and fairer customer outcomes has to take into account the damaging link between money and mental health.

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.