Financial Services Risk and Regulation Unravelled Podcast

Episode 44: regulatory update - moving the dial on diversity and inclusion

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.

Episode 43: Regulatory update: Delivering ’fair value’ through the Consumer Duty

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.

Episode 42: What are the key priorities for internal audit?

In a fast-changing financial services landscape internal audit has become a force of innovation in its own right. Can your own function keep up with the pace?

To find out more about what’s happening in internal audit, listen to a special episode of our financial services regulatory podcast.

Rob Benson and Vivian Lagan from our financial services business risk team are joined by a panel of experts to discuss our recent Internal Audit Report 2022/23:

• Fotoulla Charalambous, Chief Internal Auditor, EBRD
• Carley Eaton, Chief Internal Auditor at Provident Financial Group
• Nick Curle, Chief Auditor, Natwest Group

The panel examines how internal audit can measure performance and help businesses prepare for the many challenges ahead as strategies, regulatory demands, and operating models evolve.

You can read more about our Financial Services Internal Audit Survey findings and download the full report here.

Episode 41: regulatory update – cost of living pressures

As the cost-of-living crisis continues to impact the UK, households are facing challenges with repayments and interest rates: from mortgages to everyday spending.

In July’s regulatory update, David Morrey and Ben Farmer discuss the latest pressures on businesses: the Consumer Duty, mortgage and interest rates, Solvency II, enforcement cases, and more – sharing insight on how firms and consumers can prepare for the changes ahead.

Episode 40: Consumer Duty - a strong case for mastering technology

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. 

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.