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

26 March 2020

Regulators publish guidance on the identification of key financial workers and critical outsource partners

The BoE and FCA have published guidance for firms to help them identify key financial workers. Conor MacManus discusses what this means and what firms should do.

Coronavirus: Juggling legal and conduct risks in general insurance

On 19 March 2020 the FCA set out its expectations for insurers on how they should respond to some of the challenges caused by this coronavirus (COVID-19) pandemic.

COVID-19: BoE and PRA aim to alleviate operational burdens to allow focus on what’s important

To allow firms and regulators to better concentrate on managing the impact of COVID-19, the Bank of England (BoE) and the Prudential Regulation Authority (PRA) are halting or reviewing a range of supervisory and prudential-related activities.

18 March 2020

IFRS 17: What you missed from Oracle OpenWorld

Last month’s EMEA Oracle OpenWorld was a great opportunity to explore how technology can solve the key challenges facing business today. As part of our role as sponsor, we co-hosted a client roundtable with Oracle on IFRS 17. We wanted to showcase how, when technology is approached with the right mindset, the solutions can go beyond simply meeting regulatory compliance to delivering finance transformation.

10 March 2020

European banks should note global disruption trends

There are plenty of signals coming from the global banking sector that should give European banks pause for thought over their future.

02 March 2020

What do impact tolerances and narwhals have in common?

Effective operational resilience is compared to a sea creature; this may seem an incredulous link...but hear me out.

28 February 2020

Later life mortgages: Will people really still be working at 90?

Mortgage terms are increasing and lasting later into a customer’s life. But are lenders doing all they should to fully assess the new and exacerbated risks that these new lending trends create, such as plausibility of income?

20 February 2020

Sustainable Investment Taxonomy - the end of the beginning?

Political agreement on the taxonomy is a vital first step in providing a framework to support firms in integrating sustainability considerations into the investment process and wider approaches across their business.

11 February 2020

IFRS 17 Global Roundup: February 2020

Emerging threats. The need to upskill. Growth challenges. These are all reasons why your IFRS 17 programme should deliver more than a new set of financial accounts. Alex Bertolotti discusses this in more detail.

06 February 2020

Time to capitalise on the changing face of financial ‘advice’

In this blog, Andrew Strange discusses the complexities for financial service companies on providing advice to clients and customers.

03 February 2020

IFRS 17: Why upskilling the whole workforce is critical to success

A knowledge of the implications of IFRS 17 on the business will be critical to the success and viability of new products. Similarly, it will be important the brokers, underwriters, claims handling team and those within the risk and compliance functions have an understanding. The list goes on.

31 January 2020

The urgency and opportunity of cryptoasset compliance

Cryptoasset businesses have been brought in scope of the Money Laundering Regulations in the UK. This presents both challenges and opportunities.

28 January 2020

Modernising third party risk management with a PRAgmatic regulator

Businesses must seize the opportunity to inform the Prudential Regulation Authority’s (PRA) upcoming policy on outsourcing and third party risk management.

How will automation change the compliance function of the future?

As the use of machine learning and robotics in financial services evolves, it raises a fundamental question about what the future holds for the compliance function. Against a backdrop of cost pressures and a changing regulatory landscape, many organisations are looking to automate manual activities. But could the compliance function ever become fully-automated?

22 January 2020

What does the regulatory revolution on data collection mean for firms?

We are going through a revolution in the way financial services firms use data. The quantity and complexity of the data available to firms is unprecedented. This brings unique opportunities to better tailor the services provided to customers but also significant regulatory, operational and even ethical challenges.

New year’s resolutions (and pre-emptive recovery plans) for insurers

Recovery and resolution (R&R) planning appears to have arrived in insurance, following multiple false dawns.

21 January 2020

IFRS 17: Have you considered the impact on customers?

Most of us have some form of insurance. Life, cars, gadgets, body parts, you name it, it can be covered. But, do you understand how insurance works? And do you know that it’s changing?

16 January 2020

Should EU banks be able to use capital and liquidity waivers?

With European bank profitability low and coming under constant pressure, cross-border banking groups have been arguing for the ability to move capital and liquidity across borders more easily, in order to improve their efficiency in funding economic growth.

19 December 2019

A clearer path on Brexit, but what next for financial services?

The Conservative Party’s resounding victory in the general election means the EU Withdrawal Agreement is now almost certain to be passed in the House of Commons, with the UK leaving the EU on 31 January 2020. The impact of the UK leaving the EU without a deal in January would have been damaging for the financial services sector, despite the huge amount of work that has gone into preparing since June 2016.

18 December 2019

IFRS 17: Year in review

Alex Bertolotti shares his personal IFRS 17 highlights from 2019 and looks ahead to the new year. This year so much has been accomplished by our clients, technology vendors and PwC alike.