Financial Services Risk and Regulation Unravelled Podcast

Episode 39: regulatory update – the upcoming Consumer Duty deadline

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.

Episode 38: regulatory update – consequences of the (latest) banking crisis

In this episode David Morrey and Ben Farmer discuss learnings from the collapse of SVB, the FCA Business Plan, the Financial Services and Markets Bill's progress through the House of Lords, and the first consultation on the Senior Managers and Certification Regime – sharing insight on how firms and consumers can prepare for the changes ahead.

Episode 37: regulatory update - FCA Business Plan

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.

Episode 36: Sustainability Disclosure Requirements - where do we stand now?

The FCA has made it clear in their recent consultation paper that it is determined to tackle greenwashing and has highlighted that it will apply the marketing guidelines as early as June 2023, once the final rules are published.

In this episode, Irina Velkova is joined by Sarah Woodfield, Active Ownership Manager at Schroders, and Kate Boulden, Associate Director, Alternative Investment Management Association, for a conversation around sustainability disclosure requirements (SDR), and what we may see coming later this year in the final rules.

Please note: this podcast was recorded before the FCA updates on SDR and investment labels consultation.

Episode 35: banking challenges and trends 2023

Basel 3.1, interest rate environment, regulation and macroeconomic uncertainty are just some of the challenges the banking sector will continue to face this year. Banks need to ensure they have the correct processes, governance, and agility to adapt effectively.

In our latest podcast, our regular host Irina Velkova is joined by Paul Garbutt, Partner, leader of our financial (prudential) regulatory practice, and Simon Hills, Director of Prudential Regulation at UK Finance to explore the key themes for the banking sector in 2023.

Episode 34: investment management challenges and trends for 2023

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.

Episode 33: regulatory update - Regulatory Initiatives Grid 2023

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.  

Episode 32: regulatory update – FCA Feedback on Consumer Duty

The FCA's Consumer Duty regulation sets higher and clearer expectations for financial services firms, requiring them to put customers’ needs first.

As we creep up to the relevant phased deadlines for implementing the regulation, David Morrey and Ben Farmer look at key feedback, including Dear CEO letters for sectors, and multi-firm reviews. David and Ben also discuss financial hot topics, including: Buy Now Pay Later, crypto-consultation, the Financial Services and Markets Bill, and much more – sharing insight on how firms and consumers can prepare for the changes ahead.

Episode 31: A financial services forecast for 2023

2022 gave us new operational resilience expectations, the Consumer Duty, and a magnified outlook on climate change and biodiversity. But with firms now integrating these changes into their strategies, what will the year ahead bring?

In this episode Irina Velkova is joined by Robert Hannah, Head of International, Large Corporate and Governance Advisory, who also sits on our strategic leadership team, and Alex Ellerton, Head of Financial Services,  They'll discuss what developments we expect in 2023, including in response to geopolitical tensions, AI, sustainability, cryptocurrency, the cost-of-living crisis and other economic pressures.

Episode 30: regulatory update - the Edinburgh Reforms

The Edinburgh Reforms will consist of over 30 regulatory changes, aiming to lead development and competitiveness in financial services. As the Chancellor only announced 13 of them in his December speech, there's still plenty of scope to speculate on what they might look like. 

Alongside a discussion of the reforms, David Morrey, and new co-host Ben Farmer, tackle other developments within financial services: Consumer Duty; recent FCA board minutes; inclusion and diversity; and enforcement cases. They'll be looking back on their 2022 highlights to share guidance on how firms can prepare for the changes ahead.

Related content: Edinburgh Reforms – key announcements | Grant Thornton