Regulated Radio

COP26 galvanised and accelerated global focus on achieving net zero carbon emissions. Pressure is mounting on governments, businesses, and industry alliances to make net zero pledges. So, what does it all mean?

How are plans to reach net zero being implemented within the banking sector? How will those within financial firms see their roles change in response to pledges and targets made by their firm? In this episode of Regulated Radio, Scott Martin is joined by Damian Hales and Rutang Thanawalla to answer these questions and much more.

How will major regulatory trends affect the financial services industry in 2022? How can leaders anticipate and respond to them effectively? In the 2022 edition of our Financial Markets Regulatory Outlook, David Strachan and Suchitra Nair, join Orla Hurst to explore these questions as well as digital payments, regulatory divergence, transitioning to a sustainable economy and the future of regulation.

Key questions:

• As regulatory focus turns to scrutinising climate pledges, how can firms comply with ESG disclosures and avoid greenwashing?

• How can firms gear up for revisions to MiFID/MiFIR and prepare for possible reform to Money Market Funds?

• Will cryptoassets and digital payments firms cope with increased intrusive supervision of their risks and control frameworks?

• As firms tackle the challenges of overseeing a more complex business environment, in what ways can operational resilience, climate, diversity and inclusion be addressed?

• How can firms work to ensure they are providing value for money to customers? How might this affect their operations?

Is the banking sector ready for the implementation of Basel 3.1? Can it manage the complexity of an increasingly fragmented regulatory environment as key regulators look set to diverge from the international Basel standards? In this episode, Deloitte's global Basel 3 leader, Tom Spellman, and Rod Hardcastle join Scott Martin to discuss the path ahead for implementing Basel 3.1, including the EU's recent CRD6/CRR3 legislative proposal. Tune in now to hear what is still uncertain and what banks should start doing right away.

At the start of 2021, we identified nine regulatory themes affecting the financial services industry as a consequence of the COVID-19 pandemic. Against a more optimistic economic outlook than anticipated, Orla Hurst revisits these themes with David Strachan and Suchitra Nair from the EMEA Centre for Regulatory Strategy – identifying the developments and actions firms should focus on for the remainder of the year. Tune in now!

Key questions:

• What is the risk of credit risk deteriorating in the second half of the year? And how can firms stay on top of it?
• What do firms need to keep an eye on from a customer and conduct perspective?
• What are some of the challenges to regulators and firms regarding cryptocurrency?
• What does regulatory divergence between the UK and EU mean for firms? And how can they best manage it?

The speakers are David Strachan, Suchitra Nair and Orla Hurst.

How can technology help financial services firms manage the challenge of dealing with increasingly complex and demanding financial regulation? In this episode, we speak to Kent Mackenzie and Suchitra Nair to hear about the latest 'RegTech' applications being used in the financial sector, and how regulators have been responding to this wave of innovation. Tune in now!

Key questions:

• What are some of the most innovative RegTech solutions that have been implemented by financial services firms in the last few years?
• How do regulators view the use of RegTech in the firms that they supervise?
• What are the things a firm has to get right in order to adopt or scale-up RegTech solutions?
• How should firms go about engaging with their regulators if they want to adopt new RegTech solutions?
• What do the next few years hold for RegTech innovation?

The UK has become a global leader in the development of the FinTech sector over the last decade, and attention is now turning to how it can retain its leadership position in the industry and foster the next generation of FinTech innovation. The recent Kalifa Review of the UK FinTech sector made a number of recommendations on how to do just this, and in this month's episode, we sat down with Louise Brett, Deloitte's FinTech Lead and a contributor to the Kalifa Review, to talk about how the sector has evolved and what we sees coming next. Tune in and join us for this show recorded especially for UK FinTech Week 2021!

Key questions:

• Why is now the right time for UK authorities to re-imagine their approach to the FinTech sector
• How can technological innovation in financial services continue to benefit broader society?
• What are the key features of the regulatory and policy environment that have allowed FinTech to flourish?
• What will influence the development of the FinTech sector the most in the coming years?

You don't need to be an expert in financial services to know that innovation has been rapidly changing the way we make payments. Significant technological and infrastructural changes are enabling businesses and consumers to transact with increasing ease. But what are some of the regulatory challenges that this change gives rise to? In this episode, we speak to David Myers, Deloitte's Payments Lead, and Valeria Gallo from the EMEA Centre for Regulatory Strategy to hear what lies ahead for the payments industry. Tune in now!

Key questions:

• What are the six major trends driving innovation in the payments landscape right now?
• How do regulators approach the risk of an increasingly complex payments value chain?
• How do cryptocurrencies and distributed-ledger technologies change the way that payments are likely to evolve?
• What should financial services firms be doing now to prepare for this change?

Now that the transition period for the UK's departure from the EU has ended, differences between the regulatory regimes in the two jurisdictions may begin to emerge. One area where these differences could be felt first is in the insurance sector. In this episode, we speak to Andrew Bulley, Henry Jupe and Felix Bungay to hear their thoughts on what regulatory divergence could really mean in practice, how the review of the Solvency II Directive could create an opportunity for divergence to materialise, and how insurers can manage a more complex regulatory landscape. Tune in now to hear more about this increasingly important subject for a post-Brexit world.

Key questions:

• What does regulatory divergence look like in practice, and how might we see it materialise between the UK and the EU?
• How has the UK's regulatory and supervisory philosophy traditionally differed from the EU's and what could this mean for the future?
• Why do we see the review of the Solvency II Directive as a potential source of regulatory divergence?
• How can insurers cope with the practical challenges of managing regulatory divergence and regulatory complexity?

What will this New Year hold for the world of financial services regulation and supervision? How will COVID-19 affect the work that regulators are doing and what are the trends we see emerging as the pandemic recedes? In this special episode, Scott Martin is joined by Andrew Bulley and David Strachan from the EMEA Centre for Regulatory Strategy to hear their thoughts on the year ahead. From sustainability to credit risk, operational resilience to regulatory divergence, there's a lot to cover. So join us!

Questions:

• What aspects of the financial services regulatory framework are seen to have worked well or less well during COVID-19?
• How can firms handle the tension between prudential and conduct risks as they manage the challenges faced by their customers during the pandemic?
• What progress do we see being made on the sustainability agenda in 2021?
• What has COVID-19 taught the financial sector about managing its operational resilience?
• How can the financial sector continue to be seen as being 'part of the solution' in responding to the pandemic's economic and financial challenges?

In just three weeks, the transition period for the United Kingdom's departure from the European Union will end. Banks are busy preparing for an important change in the terms of market access between the EU and the UK and regulators are working to ensure a smooth transition for the financial sector, both on 1 January and in the days that follow. In this episode, we speak to two of Deloitte's banking and capital markets Brexit leaders, Vishal Vedi and Alex Szmigin, to get their take on the readiness of the banking sector for the end of the transition period and what they think banks should be doing now to make sure they are prepared. Join us as we delve into some of the most interesting issues in this fast evolving situation.

Key questions:

• What in practice will change for banks when the transition period comes to an end on 1 January 2021?
• What are the near and medium-term expectations that financial supervisors have for banks during this period of time?
• How has COVID-19 affected the work that banks have been able to do to prepare for the end of the transition period?
• What should banks' priorities be in 2021 in light of Brexit and the regulatory change they will face?