The FCA wants more resources devoted to empowering customers, preventing harm and safeguarding rather than dealing with redress and remediation later down the line, and has updated their guidance by issuing four pillars to help firms with vulnerable customers.
Certain insurers will be subject to additional reporting to the Financial Conduct Authority (FCA) from 2023. Whilst the first reporting date seems far away, the return must cover data from 2020 onwards, meaning that firms need to prepare to make sure they can provide accurate data in the right format.
The UK Insurance Broking M&A outlook for 2021 is fascinating, especially following the obvious challenges of 2020.
High quality data is critical in supporting decision making, reporting and risk management activities, and even more key for getting the most out of advanced analytics and predictive modelling.
With six weeks to go before the end of the EU exit transition period, the FCA set out what firms need to be aware of in preparation for 1 January 2021. Discussions were against the backdrop of the ongoing EU Exit negotiations where the outcome is uncertain, and thus any agreements may not mitigate the risks that firms are facing, and the question of equivalence.
With the current Covid-19 pandemic and its widespread effects, banks must rely more than ever on data driven insights to monitor their changing risk profile, support quick decision making and respond to impacts on their customers and operating models.
The time has come to take the business of sustainability seriously. Governments and businesses can no longer afford to focus on short-term gains to the detriment of longer-term sustainability.
Mazars and the Official Monetary and Financial Institutions Forum (OMFIF) are proud to have come together to produce a global report providing unique insight on current and upcoming financial regulatory evolutions aimed at tackling climate change.
With Environmental, Social and Governance factors, and responsible banking practices more broadly becoming an essential focus for the banking industry, Mazars has assessed how banks are embedding sustainability into their commercial practices.
With sustainable finance expecting to be a crucial factor in the economic recovery in response to Covid-19 and regulators still encouraging banks to actively embed climate-related risks in their business operations and risk management frameworks, Mazars has analysed how 30 of the largest banks worldwide have been handling climate-related financial risks.
Brexit preparation is one of the largest undertakings that regulators and market participants have ever done, considering the uncertainty and the impact it carries.
During a meeting of the Special European Council on the 10 April 2019, EU leaders agreed to a flexible Brexit extension until 31 October 2019, to allow for the ratification of a withdrawal agreement.
What are the changes and what can you do to ensure your firm is compliant?
Following a survey of over 150 insurance brokers across the UK, our Insurance M&A experts report on the sentiment of the market and look ahead to 2019.
One day ahead of the UN Climate Action Summit in New York, 22 September 2019 – The United Nations launched the Principles for Responsible Banking with the sign up of 130 international banks, collectively holding more than USD 47 trillion in assets.
In 2018, the Bank of England (the “BoE”) set up a project called “Future of Finance” aimed at anticipating the upcoming changes in financial services for the next decade, and the impact of these changes for market participants, customers and regulators.
Effective leadership is the critical success factor for financial services companies facing regulatory and societal change. Read our special report to find out how it will affect your company.
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