Regulatory Insights

Welcome to the first 2020 edition of our re-vamped quarterly regulatory Radar. Here you will find an ‘at a glance’ summary of Q1 developments covering Prudential, Conduct, Financial Security, Market Developments, Sustainable Finance and Innovation.

Please note that as the regulatory response is evolving quickly, the content of this note states the position as at 23 March 2020.

Welcome to Mazars’ Regulatory Outlook for 2020. In this publication, we present our Banking clients with what we hope will be a useful snapshot of some of the regulatory developments they can expect to see over the coming year.

The regulators have adopted a co-ordinated approach in their proposals outlining the detailed requirements on firms to maintain an Operational Resilience framework. These will have far-reaching implications across the financial sector.

20 May 2019

The cross-sector priorities for the FCA have been subject to little change in the past few years and the 2019/2020 Business Plan has raised no big surprises in this regard.

The Financial Conduct Authority (FCA) sees pricing as one of the most significant business activities in general insurance with the potential to cause harm to consumers.

From 10 January 2020, UK cryptoasset businesses must comply with the UK’s updated Money Laundering and Terrorist Financing (Amendment) Regulations 2019 and now fall into the Financial Conduct Authority’s (FCA) supervisory responsibility for the first time.

The most recent CEO letter from the Financial Conduct Authority (FCA)in relation to non-financial misconduct and culture failings highlights some worrying behaviours within the insurance industry.

For the latest round-up of regulatory updates for the banking industry check out the December editions of Mazars RegWatch here.

In November 2019 the Financial Conduct Authority (FCA) published its finalised guidance after issuing its draft guidance for consultation in April this year.

The FCA has identified that discretionary commission models have led to higher finance costs for consumers and is now seeking to ban such commission models and make amendments to existing rules and guidance in relation to the disclosure of commission arrangements.

A round up of recent banking regulatory matters including a look at what’s on the current regulatory radar.

On 29 May 2019 the European Banking Authority (EBA) published its latest Annual report detailing its achievements over the past year and outlining its priorities for the months ahead. Our synopsis below, gives an overview of the 140-page report, some of the key regulatory issues tackled in 2018, and what is on the horizon for the upcoming year.

A round up of recent banking regulatory matters including a look at what’s on the current regulatory radar.

The FCA began its consultation on proposed changes to the way in which firms provide advice to consumers and the sales process.

The cross-sector priorities for the FCA have been subject to little change in the past few years: read our review of the 2019/2020 Business Plan to see if this is set to change