Financial Services Risk and Regulation Unravelled Podcast

We bring you this episode live from COP28, where Irina Velkova welcomes Michael Mainelli, Lord Mayor of the City of London. The Lord Mayor has voiced that climate action is investable and solvable, so in this episode we delve into this further, discussing the important decisions that will come out of COP28, carbon credit-trading, and Government Green Bonds.

Fossil fuel debate takes centre stage as COP28 continues in UAE, with more than 100 countries already supporting a phase-out to bring fossil fuel emissions to zero.  We bring this episode live from COP28 where Irina Velkova welcomes Andrew Griffiths, Director of Policy & Partnerships at Planet Mark, to discuss the latest update on fossil fuel phase-out. The key talking point is the claim by Sultan Ahmed Al Jaber, President of COP28, that there's ‘no science’ indicating that a phase-out of fossil fuels is needed to restrict global heating to 1.5C. Decarbonisation of the global energy system and ramping up clean energy as we move away from the use and production of fossil fuels was also discussed. 

David Morrey and Ben Farmer discuss new reporting changes for diversity and inclusion (D&I) and how firms will need to improve their D&I strategies, reporting further on disability and ethnicity alongside the already-reported gender pay gap. Other developments discussed include: Consumer Duty, crypto, interest rates, and much more – sharing insight on how firms and consumers can prepare for the changes ahead.

What factors affect 'fair value' for the Consumer Duty?  Setting higher and clearer standards for firms of consumer protection within the financial services sector, David Morrey and Ben Farmer discuss the FCA's Consumer Duty initiative and the outcomes that it's trying to achieve through 'fair value' in their recent regulatory update.  Other developments discussed include: cost of living, crypto, lending and mortgages, and much more – sharing insight on how firms and consumers can prepare for the changes ahead.

Topics discussed include the future of internal audit in the financial services industry, skills gaps in ESG, cyber security, data analytics, financial crime, and credit risk, the importance of diversity and inclusion in internal audit, the significance of scorecards, metrics, and inclusivity in organizations, the importance of inclusivity and retention in the workplace, and the use of AI and technologies in internal audit functions.

In this podcast, David Morrey and Ben Farmer discuss the cost-of-living crisis in the UK and its impact on households. They cover topics such as the Consumer Duty, mortgage and interest rates, Solvency II, enforcement cases, and more. The podcast also delves into consumer credit mortgage protections, compliance with the Consumer Duty, broadening access to long-term asset funds, recruiting Gen Z talent, regulatory updates for insurers, fraud and market manipulation in the financial industry, and failures of governance and supervision.

The next Consumer Duty deadline comes into force in July this year. Introducing new arrangements, enhancing existing governance, making fair value assessments, monitoring processes, and ensuring they can demonstrate compliance by the deadline has been an intensive and challenging journey for many firms.  In this episode, Irina Velkova welcomes Joseph Twigg, CEO at Aveni, and Simon Murphy, Sales and Marketing Director at Vizolution, to our Risk and Regulation Unravelled podcast to discuss the major role that regtech firms play in supporting implementation of the Duty, and the value of technical solutions. 

As the next Consumer Duty deadline fast approaches, David Morrey and Ben Farmer discuss what looms for firms, and which assessments will help them meet the new requirements as they prepare for the significant restructuring of consumer protections. Other developments discussed include: sustainability, greenwashing, mortgages, the Prudential Regulation Authority’s Business Plan, climate change, and much more – sharing insight on how firms and consumers can prepare for the changes ahead.

This podcast discusses the collapse of SVB, the FCA Business Plan, the Financial Services and Markets Bill's progress, and the first consultation on the Senior Managers and Certification Regime, providing insight on how firms and consumers can prepare for the upcoming changes.

The Financial Conduct Authority (FCA) has published its Business Plan for 2023/24. This year the plan has a strong alignment with the FCA’s strategy, focusing on better outcomes for consumers and markets. The regulator will be accelerating its work in four areas over the next year: putting customers’ needs first; preparing financial services for the future; strengthening the UK’s position in wholesale markets; reducing and preventing financial crime. David Morrey and Ben Farmer delve deeper into the FCA’s priorities and discuss what it means for businesses in the rest of the year and beyond.