Strong and Simple regime
The PRA is expected to introduce a more proportionate prudential regime for less systemically important banks and building societies. This will be known as the ‘Strong and Simple’ regime.
Regulatory Compliance
Regulatory reporting requirements for the banking sector are ever-increasing, posing significant challenges for banks. The EU Capital Requirement Directive (CRD), implemented through UK law, introduced Internal Capital Adequacy Assessment Process (ICAAP) and Internal Liquidity Adequacy Assessment (ILAA) documents and the Pillar III disclosures.
EU Capital Requirements Regulation (CRR) requires institutions to complete the EU Common Reporting (COREP) in addition to the local prudential templates (FSA returns.) Finally, a Recovery and Resolution Plan (RRP) compliant with the UK regulation and the EU Bank Recovery and Resolution Directive (BRRD) should be maintained. We can help you in successfully facing the challenge of completing all these reports in a timely and efficient manner taking into consideration any changes to the regulatory environment.
We lead and facilitate discussions on critical regulatory topics at seminars and in thought leadership articles to provide a platform to our clients to share their experiences and views.
Our service areas:
- Regulatory authorisations
- Regulatory relations and developments
- Prudential regulatory services
- Regulatory Reporting
- Conduct of business and market conduct
- Governance, risk management and internal controls
- Financial crime
- Skilled persons (s166) reviews
- Market Integrity
- Operational resilience
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For more information on how we can help, please contact us.
Achieving and maintaining operational resilience
Operational resilience has been high on the international and UK regulatory agenda for some time and remains an area of strong focus due to significant issues experienced by financial services firms which include IT outages, cyberattacks, failings in relation to outsourcing arrangements and all sorts of physical events. Additionally, the Covid-19 crisis puts banks in front of one of the most severe...
Regulatory reporting
Banks must submit reliable and accurate regulatory returns to the regulator. To comply with regulatory expectations and adapt to changing requirements, banks and investment firms must develop a robust system of governance, data management, testing and validation for their regulatory returns. This will enable firms’ management bodies to speak for the quality of their regulatory returns.
Market Integrity
Market Integrity is about enhancing market conduct, enabling all participants to access the market on a non-discriminatory basis and providing them with transparent and accurate information.
Skilled Persons Reviews
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have the power to commission reviews by Skilled Persons to obtain an independent view of regulated activities that may give cause for concern or need further analysis.
Banking – synergy in risk management & culture
International and UK regulators have increased their focus on risk management and risk culture since the financial crisis revealed failings in these areas to be one of the root causes. Banks should have in place a robust risk management framework within a sound risk culture. Identifying areas for improvement and filling the gaps can turn this apparent challenge into a growth opportunity by actually...
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