Navigating UK Financial Services: Monthly RiskRegulatory Insights

2024-11-4 03:47 Read: 1749

Understanding Risk and Regulatory Developments in UK Financial Services

In the dynamic landscape of financial services, firms are navigating through an increasingly complex regulatory environment and confronting external threats that are harder to predict. Fear of missteps can deter innovation, yet it's crucial to that without risk, there would be no financial industry.

PwC's dedicated team monitors risk and regulatory changes across asset management, banking, and insurance sectors, focusing on critical issues like prudential reforms, technological advancements such asand digital assets, ESG policies, financial crime mitigation, wholesale market reform, and consumer outcomes. Our team actively engages with clients, regulators, and industry bodies to provide insights that illuminate the evolving regulatory landscape's impact on your business.

The United Kingdom is undergoing a significant transformation in its regulatory framework through initiatives like the Financial Services Markets Act 2023 and Edinburgh Reform package. As UK authorities continue progressing these reforms, staying informed about their aga becomes crucial during this pivotal phase of regulation.

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Risk Regulatory Insights - September 2024

FCA Proposes New Safeguarding Rules for Payments Firms: PwC's summary of the Financial Conduct Authority's FCA consultation on strengthening safeguarding rules specifically for payments and electronic money institutions.

FCA Shares Findings on Fr Value Supervisory Work: Insights from the FCA’s first year supervising firms agnst higher standards under Consumer Duty, alongside an overview of its work on fr value in cash savings.

The Strong and Simple Framework: An analysis by PwC of the Prudential Regulation Authority's PRA Strong and Simple Framework designed to enhance financial stability while promoting competition.

UK Basel 3.1 Rules - Large Banks Welcome Final Credit Risk Regulations: A summary of the PRA’s final UK rules on credit risk implementation, aligning with the post-crisis reforms set by the Basel Committee on Banking Supervision.

FCA Addresses Concerns on Account Access and Closures: Overview of the FCA's review into payment account access issues and closures, ming to protect consumer rights.

FCA Calls for Improved Standards in Crypto Firm Financial Promotions: PwC’s summary of the FCA’s initiative to enhance transparency and compliance standards in financial promotions by crypto firms.

FCA’s Analytics and Marketing Cookies Policy: Guidance on how the FCA uses cookies for analytics purposes, informing users about data collection practices without identifying individuals.

By subscribing to our monthly newsletter, you'll stay ahead with comprehensive insights tlored to your specific needs within the UK financial services landscape. Join us today to navigate effectively through this evolving environment.

Andrew Strange

Director, PwC United Kingdom

Contact: +44 07730 146626

Eml: [email protected]

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