Below are five key areas that we identified as pertinent to the Financial Services industry, which we cover in more detail in this newsletter. Further information on each of these areas can be accessed in the dedicated links below.
The Investment Firms Prudential Regime (IFPR) came into effect on 1 January 2021. Firms are expected to have put in all the necessary measures – as outlined by the MIFIDPRU code – to implement the regulatory requirements into operation.
The FCA’s new GIPP rules came into effect for home and motor insurance in January. This means renewal prices cannot be higher than those charged to an equivalent new customer.
What developments have taken place over the last three months? This quarter has been dominated by the tranche of new sanctions against Russia (and Belarus) in response to the Ukrainian crisis and the associated compliance challenge created.
In February, the second round of the Climate Biennial Exploratory Scenario (CBES) exercise on financial risks from climate change started. It will involve the same banks and insurers that participated in the first round.
31 March 2022 is the end of the implementation period for Supervisory Authorities Operational Resilience requirements. Firms will need to be able to demonstrate compliance with all applicable requirements as of this date including the following:
Expert analysis on the latest regulatory insights in the UK.
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