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Episode 30: regulatory update - the Edinburgh Reforms

Financial Services Risk and Regulation Unravelled Podcast

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Lack of Regulatory Compliance Culture in a Newly Regulated Sector

This chapter explores the lack of regulatory compliance culture in a newly regulated sector compared to other firms. It discusses the reluctance of many companies in the sector to be authorized or to leave the industry. The chapter also highlights specific cases of significant fines imposed on TSB Bank and Standard Chartered for operational resilience and liquidity reporting failures.

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