Financial Services Risk and Regulation Unravelled Podcast

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.

Sarah Woodfield, Active Ownership Manager at Schroders, and Kate Boulden, Associate Director at AIMA, discuss sustainability disclosure requirements (SDR) and the potential challenges of proposed regulations. They highlight the importance of flexibility and convergence in labeling sustainable investments, as well as the need for more time for firms to comply with final rules.

Experts analyze recent bank collapses and regulator response, exploring balance sheet mismatch challenges. The impact of interest rates on banks and consumers is discussed, along with senior management certification regime and ring fencing. Changes in the macro environment and meeting climate goals are highlighted. The importance of cost reduction and technology adoption for navigating the economic environment is emphasized.

It's set to be another challenging year for investment managers who must navigate macroeconomic headwinds and make big calls on investments and risk, all while the industry tackles long-term structural challenges (and opportunities) around margins and technology. Following the success of last year’s ‘top trends’ series for financial services sectors, Irina Velkova is joined by David Morrey and Jonathan Charles to discuss 2023's key trends in the investment management sector, including ESG, AI, Blockchain, the Edinburgh Reforms and Consumer Duty.

The Financial Conduct Authority (FCA) has released the sixth edition of the Regulatory Initiatives Grid. There was a delay in the publication (originally expected November 2022) so regulators could consider how the Edinburgh Reforms will impact the regulatory pipeline and initiatives in the coming years. David Morrey and Ben Farmer explain the new initiatives added to the February 2023 Grid.