FS regulatory affairs newsletter - Q3 2022

Following on from our Q2 edition of the FS regulatory affairs newsletter, this edition covers regulatory developments in the third quarter of 2022.

Below are five key areas that we identified as pertinent to the Financial Services industry – further information on each of these areas can be accessed via the dedicated links below.

Banking – Q3 2022

Q3 was unusually busy in the Banking regulatory calendar with the market aflush with publications and consultations from regulatory bodies. We have summarised and provided our take on some key developments in Q3 2022.

Insurance – Q3 2022

With the cost of living affecting everyone, The FCA issued a Dear CEO letter urging firms to be more cognisant of customers struggling in this time. They also published a review of BI claims handling.

Climate and Sustainability - Q3 2022

Firms are expected to enhance their climate risk management frameworks: amending climate risk methodologies, data, scenario analysis capabilities, disclosures, and validation approach. The FCA urges voluntary adoption of industry standards, increasing oversight, and seeking a globally consistent regulatory approach.

Crypto - Q3 2022

The crypto asset space has continued to receive increasing attention from regulators and central bodies over the last quarter, with keynote speeches and various progress and consultation papers. This article summarises these developments, and what they might mean to regulated firms.

Consumer Duty - Q3 2022

The FCA’s final rules on the upcoming Consumer Duty have been well-publicised and there is a lot of material to get to grips with for compliance by 31 July 2023. Key focus areas in this article are around resourcing, governance and oversight, and data.