Financial Services Risk and Regulation Unravelled Podcast

Businesses all over the world are facing another large transformational change: hybrid working. And, change always brings challenge: from organisational and operational resilience, and culture, to security risks and leadership. On hybrid/remote working, the FCA has set out its own expectations so firms can ensure they're meeting their regulatory responsibilities. Our host Irina Velkova discusses the impact of these new ways of working with an expert panel: Andre Katz, Group Risk Director for Operational Resilience, Lloyds Banking Group, Susan Andrew, Head of Delegated Underwriting Management, Brit Insurance and Aegean Simpson, Senior Manager of People and Culture, Grant Thornton UK LLP. Listen for insight on the lessons learned from last two years, and guidance on what the future of work will look like.

Discussion on FCA's 2022 priorities, including crypto and enforcement cases. Mention of union strike action and turnover in FCA executive team. Emphasis on assertiveness, transparency in financial services industry. Exploration of criminal prosecutions, PRAs' standard letters. UK banks' agenda: recovery, climate change, regulatory reporting, cryptocurrency promotions.

As we approach the end of the year, the FCA has released its much-anticipated final consultation on the proposed new consumer duty. It seems to be little change from the original. David Morrey, Partner, Head of Investment Management, Financial Services Group, Grant Thornton UK LLP, and Gavin Stewart, Director, Grant Thornton UK LLP discuss the what this version means for firms – whilst looking back on the year and sharing insight on what to expect in 2022.

David Morrey, Partner at Grant Thornton UK LLP, and Gavin Stewart, Director at Grant Thornton UK LLP, discuss the FCA's ESG strategy and the UK's financial services regulation. They explore potential funding sources, lack of accountability, regulating beyond core financial activities, negative interest rates, challenges in banking competition, and the implications of data-led regulation.

HM Treasury published its final consultation paper for the Future Regulatory Framework (FRF) Review on 9 November 2021. The FRF sets out the government's views on post-Brexit financial services regulation in the UK. Our host, Irina Velkova, is joined by Matthew Conway, Director, Strategy & Policy, at UK Finance, and Gavin Stewart, Director, Grant Thornton Financial Services Group, an established commentator on regulation – the panel shares their insight on the new changes taking shape, the practical challenges it might bring, and what the FRF means for you. 

Regulators and HM Treasury are expected to release several updates imminently including the Future Regulatory Framework (FRF) Review, Regulatory Initiatives Grid, and consultation papers. David Morrey, Partner, Head of Investment Management, Financial Services Group, Grant Thornton UK LLP and Gavin Stewart, Director, Grant Thornton UK LLP share their insight on this months' regulatory developments and take a deep dive into what's expected from the regulators' crowded pre-Christmas agenda. 

Earlier this year, the FCA published its final guidance on the fair treatment of vulnerable customers. This is intended to drive a practical shift in firms' actions and behaviours towards these customers. In this episode, Irina Velkova is joined by Maxine Pritchard, Head of Financial Inclusion and Vulnerability at HSBC UK, and Peter Lovegrove, Director at Grant Thornton UK LLP, for a conversation around how firms are expected to implement this guidance.

The Financial Conduct Authority (FCA) is trying to move on from COVID-19 in the last few months of 2021. As we prepare for 2022,David Morrey, Partner, Head of Investment Management, Financial Services Group, Grant Thornton UK LLP, and Gavin Stewart, Director, Grant Thornton UK LLP discuss this month’s regulatory developments and look back at the summer. The packed episode includes the end of the furlough scheme, recent enforcement cases, the FCA's 'Transformation', and its consumer investment strategy. 

The FCA published their Business Plan for 2021/22, setting an ambitious agenda for change. This year’s Business Plan can be viewed as an attempt to transition the Financial Conduct Authority (FCA) to become what is hoped to be a new regulator for the 2020s – more “innovative, assertive and adaptive.” David Morrey and Gavin Stewart delve deeper into the plan and priorities of the FCA and discuss whether we're looking at a new type of regulator. On the podcast this week: • David Morrey, Partner, Head of Investment Management, Financial Services Group, Grant Thornton

The UK Investment Firm Prudential Regime is a new, streamlined and simplified process for the prudential regulation of investment firms in the UK.  We're joined by Colm Donnelly, Head of EMEA Prudential Reporting, Invesco to discuss the key aspects of the regime, how this will impact the way firms approach risk, and what is needed for implementation.