John Coley (UK)

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The future of the UK retail investment market: a post-Brexit and COVID-19 outlook

8 September 2021 | 08:50 AM – 09:30 AM BST In retail – the front line of the financial sector – things have moved on significantly since the start of the COVID-19 pandemic with the introduction of new technology and investment opportunities. With these changes new risks have emerged, increasing vulnerability among consumers – particularly younger consumers … Continue Reading

Episode 10 of the Regulation Tomorrow Podcast out now

The bumper crop of podcasts continues this week with the release of Episode 10 of the Regulation Tomorrow monthly podcast. In this episode we hear from Norton Rose Fulbright’s US Head of Fintech, Steve Aschettino, who gives an overview of the payments landscape in the US and some of the prevailing trends in the area. … Continue Reading

FOS board commission independent review

The commissioning of independent reviews is something the board of the Financial Ombudsman Service (FOS) undertakes periodically. On 23 July, the FOS website published a press release stating that another independent review had been commissioned into whether the FOS can continue to meet the needs of its customers, both businesses and consumers. The review will … Continue Reading

Commission overhauls AML and CFT rules

On 20 July 2021, the European Commission published a package of legislative proposals designed to strengthen the EU’s anti-money laundering and countering the financing of terrorism (AML/CFT) rules. The legislative package consists of a: Regulation establishing a new EU AML/CFT Authority. In the financial sector, this new European Authority directly supervise financial sector entities that … Continue Reading

FCA Dear CEO letter – Action needed in response to common control failings identified in AML frameworks

On 29 June 2021, the FCA published a Dear CEO letter that it had issued detailing common themes coming out of its recent assessments of retail banks’ financial crime systems and controls. In the Dear CEO letter the FCA reminds firms that the Senior Managers and Certification Regime (SMCR) places a responsibility on all senior … Continue Reading

Good governance: lessons from the pandemic and key considerations as lockdown eases – recording now available

On 9 June we hosted the latest in our monthly briefing series, which focussed on good governance in a pandemic and post pandemic context. Within this, the session covered the following topics: Senior Managers and Certification Regime: How this has evolved through the pandemic FCA key areas of focus Governance hot topics Culture, diversity and … Continue Reading

New episode of RT Plus on Charles Randell’s speech on outcomes based regulation – out now

Another episode of RT Plus is out now to download and stream. In this episode we hear from Peter Snowdon, Imogen Garner, John Coley and Matthew Gregory as they discuss the recent speech given by FCA Chairman, Charles Randell, on outcomes based regulation. RT Plus and the monthly podcast, the Regulation Tomorrow Podcast, are available … Continue Reading

Webinar | Good governance: lessons from the pandemic and key considerations as lockdown eases

Date: 9th June 2021 Time: 08:50am – 09:30am GMT The COVID-19 pandemic has led to many challenges for businesses, including large-scale remote working, staff lay-offs, increased use of online services and more vulnerable customers. In light of this, good governance has never been more important with company boards under close scrutiny from all stakeholders including … Continue Reading

Building your sustainable finance proposition: an initial checklist

On 1 July 2020, the Prudential Regulation Authority (PRA) published a “Dear CEO letter”, which stated that firms (i.e. UK-incorporated entities) need to have fully embedded their approaches to managing climate related financial risks by the end of 2021.  The end of 2021 deadline represents more than two and a half years since the PRA … Continue Reading

Coronavirus linked forbearance: key findings

On 25 March 2021, the FCA published the findings from its multi-firm review where it considered mortgage and consumer credit firms’ implementation of the September 2020 Tailored Support Guidance (TSG) covering mortgages, consumer credit and overdrafts and the operational readiness of firms to support customers in financial difficulty. The key findings from the FCA review … Continue Reading

Working Group on Sterling Risk-Free Reference Rates – minutes of meeting (23 February 2021)

On 25 March 2021, the Working Group on Sterling Risk-Free Reference Rates (Working Group) published the minutes from its virtual meeting held on 23 February 2021. Key points in the minutes include: PRA representatives indicated that supervisory oversight would intensify over the coming weeks and months, with an active meeting programme and monitoring in place … Continue Reading

Consultation Paper on mandatory climate-related financial disclosures by publicly quoted companies, large private companies and LLPs

On 24 March 2021, the Department for Business, Energy & Industrial Strategy published a Consultation Paper on proposals to mandate climate-related financial disclosures by: Relevant Public Interest Entities – UK companies that are currently required to produce a non-financial information statement (i.e UK companies with more than 500 employees that have transferable securities admitted to … Continue Reading

Regulation Tomorrow Plus – The Conduct Healthcheck

The first episode of our new spin-off podcast – Regulation Tomorrow Plus – is out now. Regulation Tomorrow Plus will be released outside of the usual monthly schedule for the Regulation Tomorrow Podcast, and will be reacting to a single issue, piece of news or publication in as timely a manner as possible. These episodes … Continue Reading

FCA launches guidance for firms on the fair treatment of vulnerable customers

On 23 February 2021, the FCA published Finalised Guidance 21/1: Guidance for firms on the fair treatment of vulnerable customers (FG21/1). FG21/1 applies to all firms where the Principles for Businesses (Principles) apply, regardless of sector. It applies to the supply of products or services to retail customers who are natural persons, even if a … Continue Reading

Financial services 40 minute briefings: The changing shape of the retail sector

The pandemic has created a number of challenges for the retail sector as firms deal with growing operational and financial pressures, whilst many of their customers face difficulties in meeting their commitments. Join us on 3 March at 08.50 – 09.30 GMT for our latest 40 minute briefing as we explore the current state of … Continue Reading

Financial services 40 minute briefings: The changing shape of the retail sector

The pandemic has created a number of challenges for the retail sector as firms deal with growing operational and financial pressures, whilst many of their customers face difficulties in meeting their commitments. Join us on 3 March at 08.50 – 09.30 GMT for our latest 40 minute briefing as we explore the current state of … Continue Reading

Regulation Tomorrow Podcast – Episode 3 out now

Episode 3 of the Regulation Tomorrow Podcast is out now. In this month’s episode we catch up on Brexit with Jonathan Herbst, we take a global look at vulnerable customer initiatives with John Coley from the Risk Consultancy practice in London and Helen Taylor from Sydney, and we speak to Katie Stephen and Sonya Zywko … Continue Reading

Conduct Healthcheck | Find out more in our latest video

Last week our Risk Consulting team launched the Conduct Healthcheck, a new product which will provide retail financial institutions with practical insights, analysis and guidance, helping them to navigate the conduct challenges and risks they are facing in respect of the pandemic. To find out more about the Conduct Healthcheck, watch our short video in which … Continue Reading

Regulation Tomorrow Podcast – Episode 3 out next week

Episode 3 of the Regulation Tomorrow Podcast is out next week. Please visit this blog or subscribe on Apple Podcasts or iTunes to make sure you don’t miss out. In this month’s podcast, Jonathan is back with more Brexit updates, Katie Stephen and Sonya Zywko from our disputes team provide an update on the latest … Continue Reading

Conduct Healthcheck | Take our questionnaire

The global pandemic has brought the importance of good conduct and fair customer outcomes firmly into the spotlight. Whilst this principle is clear, how to interpret it effectively across different sectors, customer service arrangements and delivery models can be challenging. Businesses have also had to rapidly adapt to the broad and growing range of guidance … Continue Reading

FCA updates statement on firms’ complaint handling

On 20 October 2020, the FCA updated its webpage concerning firm handling of complaints during the COVID-19 pandemic. The FCA has provided updated information on payment protection insurance (PPI) complaints and reinforces its messaging about the importance of continuing to comply with complaint handling requirements. In particular, claims management companies are reminded of the FCA’s … Continue Reading

Download now | Global operational resilience and COVID-19 survey report

Financial institutions have had to deal with two challenges in the face of the COVID-19 pandemic. The first challenge is financial – how to address and mitigate the sharp drop in the value of financial assets or loss of liquidity. The second challenge is operational – how to address the risk of failure of resources … Continue Reading

October 40 Minute Briefing recording – Learning lessons: Proactive governance in the autumn

The recording from the October 40 Minute Briefing, Learning lessons: Proactive governance in the autumn, is now available here. In the October edition of the webinar we focussed on “lessons learned” reviews, examining how such reviews can be successfully conducted so that they are valuable exercises. The webinar also considered skilled persons reviews, focussing in … Continue Reading
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