Below are six key areas that we identified as pertinent to the Financial Services industry. You will find more in depth detail in the newsletter which can be accessed via the dedicated links below.
The PRA had recently published SS3/18 and CP6/22 which covered model risk principles as well as a Business Plan for 2022/23 which identifies areas that the PRA will aim to develop in the coming year to reflect the changing regulatory landscape.
In April 2022, the HM Treasury (HMT) published its Review on Solvency II: assessing its impact on the UK’s Insurance Sector, the review focused on:
The impact of Russian sanctions is still creating a compliance challenge. We have seen various scenarios playing out that require firms to conduct a meaningful investigation to determine whether there has been a breach.
Banks and insurers must ensure their compliance with SS3/19 and continue to develop to ensure their approaches are proportionate to the scale of the risks and the complexity of their operations.
Reflections on the FCA CryptoSprint The FCA held its first CryptoSprint event in May 2022. The event was held over two days and was attended by 100 participants from across the industry including crypto firms, financial services firms, academics, law firms, consumer groups and other crypto experts.
The PRA is continuing to focus on operational risk and resilience, including critical third party policy and cyber stress testing.
Expert analysis on the latest regulatory insights in the UK.
Following on from our inaugural publication of the FS regulatory affairs newsletter in December last year, this second edition covers regulatory developments in the last three months.
This inaugural edition covers the developments in the regulatory space over the past 12 months and highlights some of the main developments and areas of focus for the year ahead.
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