Financial Services Risk and Regulation Unravelled Podcast

As the eighth edition of the FCA's Regulatory Initiatives Grid was delayed due to the General Election, an interim update to the November 2023 publication has been released for the period October 2024 to March 2025. In this episode of the podcast, David Morrey and Ben Farmer pull out 10 key takeaways: Diversity and inclusion Basel 3.1 rules Prudential framework FCA's updated enforcement guide Remu...

David Morrey and Ben Farmer dive into the latest key regulatory updates. Consumer Duty The FCA's thematic review 24/2 on product governance and its implications for the market, including the importance of firms adhering to product governance rules and the FCA's expectations around product reviews, fair value assessments, and the need for firms to provide evidence to support their conclusions. Ther...

David Morrey and Ben Farmer dive into the latest key regulatory update topics, which include: Consumer Duty: discussion of the Consumer Duty one year after its establishment, focusing on the consequential changes and the FCA's call for input on updating the handbook to align with the Consumer Duty principles Handbook changes: insights into the Financial Conduct Authority’s (FCA) request for firms...

David Morrey and Ben Farmer discuss the impact of the general election on the financial services sector, such as the delays to the Regulatory Initiatives Grid, the Finance Act, the alternative investment fund designation bill, and the FCA's proposals on naming and shaming. Other topics discussed include:  The FCA's decision to allow four insurers to resume selling GAP insurance after withdrawing i...

In this episode we discuss the latest developments and challenges in the motor finance industry. Irina Velkova is joined by two of her Grant Thornton colleagues; fellow Director, Darren Castle, and Supriya Manchanda, Partner, as well as Adrian Dally, Motor Finance and Strategy Director at the Finance and Leasing Association. The podcast looks at the FCA’s investigation into the historical discreti...

The controversy over the FCA’s proposal to name and shame firms under investigation and the political and industry opposition to it, PRA Business Plan and its focus on international policy, growth and AI regulation and the FCA’s finalised guidance on anti-greenwashing are just some of the key topics discussed by David Morrey and Ben Farmer in this episode. Other developments discussed include; FCA...

The FCA Business Plan 2024/25 landed slightly earlier than usual, but the content and structure are very similar to last year's plan. There's a continuation of familiar regulatory proprieties, but the growing remit and responsibilities of the FCA are clear. David Morrey and Ben Farmer delve into it, and discuss what it means for businesses in the rest of the year and beyond. Other key topics inclu...

The insurance industry is undergoing a transformative journey driven by digital innovation, regulatory scrutiny, and enhanced consumer expectations. In our latest podcast, Head of Financial Services, Alex Ellerton is joined by Rob Benson, Partner, Head of Insurance, and Stuart Riddell, Director, to explore the key themes for the sector in 2024. The conversation covers Consumer Duty, AI, climate an...

Volatile interest rates, AI, and technology, regulation, and macroeconomic uncertainties are just some of the challenges the banking and capital markets will continue to face this year. The sector will need to ensure they have the correct processes, governance, and agility to adapt effectively. In our latest podcast, Head of Financial Services, Alex Ellerton is joined by Paul Garbutt , Partner, He...

The FCA has published an insight setting out examples of good and bad practice that it has observed in firms' implementation of the Consumer Duty. David Morrey and Ben Farmer discuss the FCA’s thematic feedback on the implementation, highlighting good and bad practices. Other developments discussed include: the FCA’s intervention in the GAP insurance market, the PRA’s sector letters for insurance...

The year ahead is set to bring both opportunities and reasons for caution to investment managers, with challenges spanning the uncertain impact of regulatory change, emerging technologies, and the long-running struggle with shrinking margins. In our latest podcast, Head of Financial Services, Alex Ellerton is joined by David Morrey, Partner, Head of Investment Management, and Jonathan Charles, Dir...

Could the ongoing Financial Conduct Authority (FCA) investigation into the motor finance industry could be as big as the PPI scandal? David Morrey and Ben Farmer discuss the ongoing motor finance market review and what it could mean for the industry. Other developments discussed include: the overseas fund regime, PRA sector priority letters, an update on the Ringfencing Regime review, a near-recor...

David Morrey and Ben Farmer discuss regulatory topics for 2024 that will have a significant impact on institutions operating in the financial services space. They also touch upon Consumer Duty next steps, operational resilience and expected supervisory activity over the next 12 months. 

In this episode Irina Velkova welcomes Eric Usher, head of the UNEP Finance Initiative, to discuss its Principles for Responsible Banking (PRB). We also addressed The Paris Agreement, critical agreements for COP28, challenges hindering global efforts to finance sustainable projects, and delivering climate goals. 

In this episode, Irina Velkova welcomes Niki Mardas, Executive Director of Global Canopy, to discuss nature-positive investments, COP28 notable moments and key takeaways, the State of Finance for Nature report, and TNFD final recommendations for nature-risk management and disclosure.

In our final podcast of the year David Morrey and Ben Farmer discuss the latest edition of the Regulatory Initiatives Grid and recap on regulatory policy publications covering access to cash, sustainability disclosures, critical third parties, the advice guidance boundary and much more.

In this episode Irina Velkova welcomes Chris Dodwell, Head of Policy and Advocacy at Impax Asset Management, live at COP28, to discuss the role of investors in contributing to climate solutions. We also covered what's happened since The Paris Agreement, critical agreements for COP28, and investors approach to risk, including policy risk and country risks.

Can insurance be a force for good in the fight against climate change? In this episode Irina Velkova welcomes Anthony Hobley, Senior Strategic Advisor at Howden Group, live at COP28 to discuss the role of insurance with respect to net zero nature-positive transition. We also covered acceleration of carbon extraction development and carbon capture storage, as well as standardisation of carbon track...

We bring you this episode live from COP28, where Irina Velkova welcomes Michael Mainelli, Lord Mayor of the City of London. The Lord Mayor has voiced that climate action is investable and solvable, so in this episode we delve into this further, discussing the important decisions that will come out of COP28, carbon credit-trading, and Government Green Bonds.

Fossil fuel debate takes centre stage as COP28 continues in UAE, with more than 100 countries already supporting a phase-out to bring fossil fuel emissions to zero.  We bring this episode live from COP28 where Irina Velkova welcomes Andrew Griffiths, Director of Policy & Partnerships at Planet Mark, to discuss the latest update on fossil fuel phase-out. The key talking point is the claim by Su...

David Morrey  and  Ben Farmer  discuss new reporting changes for diversity and inclusion (D&I) and how firms will need to improve their D&I strategies, reporting further on disability and ethnicity alongside the already-reported gender pay gap. Other developments discussed include: Consumer Duty, crypto, interest rates, and much more – sharing insight on how firms and consumers can prepare...

What factors affect 'fair value' for the Consumer Duty?  Setting higher and clearer standards for firms of consumer protection within the financial services sector, David Morrey and Ben Farmer discuss the FCA's Consumer Duty initiative and the outcomes that it's trying to achieve through 'fair value' in their recent regulatory update.  Other developments discussed include: cost of living, crypto,...

In a fast-changing financial services landscape internal audit has become a force of innovation in its own right. Can your own function keep up with the pace? To find out more about what’s happening in internal audit, listen to a special episode of our financial services regulatory podcast. Rob Benson  and  Vivian Lagan  from our financial services business risk team are joined by a panel of exper...

As the cost-of-living crisis continues to impact the UK, households are facing challenges with repayments and interest rates: from mortgages to everyday spending. In July’s regulatory update,  David Morrey  and  Ben Farmer  discuss the latest pressures on businesses: the Consumer Duty, mortgage and interest rates, Solvency II, enforcement cases, and more – sharing insight on how firms and consumer...

The next Consumer Duty deadline comes into force in July this year. Introducing new arrangements, enhancing existing governance, making fair value assessments, monitoring processes, and ensuring they can demonstrate compliance by the deadline has been an intensive and challenging journey for many firms.  In this episode,  Irina Velkova  welcomes Joseph Twigg, CEO at Aveni, and Simon Murphy, Sales...