The Edinburgh Reforms will consist of over 30 regulatory changes, aiming to lead development and competitiveness in financial services. As the Chancellor only announced 13 of them in his December speech, there's still plenty of scope to speculate on what they might look like. 

Alongside a discussion of the reforms, David Morrey, and new co-host Ben Farmer, tackle other developments within financial services: Consumer Duty; recent FCA board minutes; inclusion and diversity; and enforcement cases. They'll be looking back on their 2022 highlights to share guidance on how firms can prepare for the changes ahead.

Related content: Edinburgh Reforms – key announcements | Grant Thornton 

Out with the old regulatory year, in with the new.

We close in on the end of 2022 and reflect on another 12 months of risk and regulation. 

This month also marks Gavin Stewart's farewell appearance on the podcast. On their final regulatory update together, he talks to David Morrey about the Edinburgh Reforms, the deleted call in power and a festive season-sized package of regulatory developments.

Join us again in 2023, for a new year and a new co-host for David. 

Is meaningful de-regulation quietly fading into the background of the new government’s plans? Will regulatory independence become a political battleground?

In our latest podcast David Morrey and Gavin Stewart discuss the latest developments, including: the Bank of England, Financial Services and Markets Bill, Mansion House speeches, de-regulation agenda, and recent enforcement cases – sharing insight on how firms and consumers can prepare for the changes ahead.

The relatively dramatic developments in financial markets that the UK is enduring are impacting many areas of life. The insurance sector has been affected by it too, although it's demonstrating a remarkable robustness, given the global turmoil in the last couple of years.

In this episode, Irina Velkova, is joined by Paul Cooper, Group Chief Financial Officer at Hiscox, Charlotte Clark, Director of Regulation at the Association of British Insurers, and Rob Benson, Partner at Grant Thornton UK LLP, to discuss resilience in the insurance sector, and how to overcome its current challenges. 

How are firms and consumers responding to the fluctuations of the cost-of-living crisis?

A lot has happened over the last few months, and after short breaks in the sun, taking time to ready the new Consumer Duty final rules of course, David Morrey and Gavin Stewart are back to discuss the latest regulatory developments including: the prime minister, the cost-of-living crisis, 'mortgage prisoners', pension schemes, and more, sharing insight on how firms and consumers can prepare for the changes and challenges ahead.

Note: as this podcast was recorded earlier in October, sudden changes in the government means there is reference to Liz Truss temporarily as Prime Minister.

The new operational resilience rules have been effective since March 2022, forcing firms to think much more about how they communicate with customers when disruption does occur. Further regulatory developments are expected in the upcoming period to 2025, which will require firms to transition into new requirements. 

In this episode, Irina Velkova is joined by Joanne Johnson, Head of Operational Resilience and End-to-End Controls at Wesleyan, and David Young, Associate Director at Grant Thornton UK LLP, for a conversation around how operational resilience is becoming a priority for firms. 

What changes have been made with the Consumer Duty’s final rules since the FCA’s last consultation? And when are financial services firms expected to start implementing the regulation?

The FCA have appointed a new chair, six new directors, as well as an additional 500 hires. Will these leadership changes, as well as new leadership in government, impact the way regulators operate?

In our latest regulatory update David Morrey and Gavin Stewart discuss the latest developments, including: changes in FCA leadership, the cost-of-living crisis, crypto-regulation, and their summer holiday regulatory reading list - sharing insight on how firms can prepare for the changes ahead.

The new inflation figures have come out and a 40-year record has been set, impacting the cost-of-living crisis once again. As customers are feeling more vulnerable, we're starting to see regulatory moves are being made to relieve the crisis going forward. 

Financial services' role in driving climate change action now includes delivering the ESG agenda. Biodiversity is another environmental risk and increasing focus for sustainable investing, and the regulators are likely to increase regulation and reporting requirements in this area, putting pressure on firms to assess the impact of their actions on nature. But, it also brings opportunities.

In this episode our regular host Irina Velkova is joined by Amanda O'Toole, Senior Portfolio Manager at AXA Investment Management and Equity, and Dr Simon Zadek, Chair of Finance for Biodiversity, to discuss the challenges and opportunities that biodiversity brings to the financial services industry.