With financial services regulation developing at pace in areas such as ESG, Fintech and new technologies, our newly launched horizon scanning tool, the Global Financial Services Regulatory (FSR) Momentum Monitor enables financial service providers to plan and prepare for coming regulatory developments across the jurisdictions in which they operate.
In a speech delivered on 17 March 2021 for the HM Treasury Women in Finance Charter Annual Review Launch 2021, FCA CEO Nikhil Rathi sent a warning to the financial services industry that diversity and inclusion should form a core part of firm and senior management culture, and that the regulator will start taking action where it fails to see improvements made.
As 2021 comes into view, what can we expect to be at the top of regulators’ agendas? As well as continuing priorities like sustainability, innovation and consumer protection, we think prudential reform will be a key issue in 2021, along with the reshaping of the UK regulatory landscape beyond Brexit. We’re delighted to share our predictions in our briefing What does 2021 hold?, which explores regulatory hot topics for financial institutions to watch in 2021.
On 16 September 2020, Ted MacDonald (Advisor in Wholesale Bank Supervision) and Olivia Fahy (Lead Associate in the Conduct Specialists Department) from the Financial Conduct Authority (FCA) joined experts from Baker McKenzie to discuss the potential conduct and culture challenges of working in the current and post COVID-19 environments.
The UK’s financial regulators have imposed a ban and fine of over £150,000 on the former CEO of Scottish mutual insurer, SBMIA, for misconduct involving his liability to tax.