
Publication
Episode 04: How to successfully implement change in your legal department
Implementing change can be challenging, especially when some people are resistant to new ways of working.
If you want to stay up-to-date on the latest developments in the world of risk and regulation, the Regulation Tomorrow podcast is for you. In each podcast, our team of lawyers, risk consultants and government relations and public policy strategists will discuss news and emerging trends to help you keep track of the evolving and increasingly complex global financial services regulatory environment.
The Regulation Tomorrow podcast is comprised of our original monthly magazine show looking at the hot topics in global financial services regulation over the previous month, and Regulation Tomorrow Plus which is shorter and more reactive, focusing on a single regulatory issue that has taken place that week.
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In our latest edition of Regulation Around the World, our financial services partners from the United Kingdom, United States, Europe and Singapore cover the latest regulatory developments concerning anti-money laundering
In our latest edition of Regulation Around the World, our financial services partners from the United Kingdom, United States, Luxembourg and Singapore cover some of the latest regulatory developments arising from the sanctions imposed on Russia.
In this month's podcast we take a look at what is coming ahead in a horizon scanning episode. We hear from Steven Howard in the US, who discusses the new regulation around private investment funds; Jon Ireland looks at the new corporate collective investment vehicle regime in Australia; Anna Carrier examines various developments in the EU, including changes to the prudential regime, MIFID and also DORA; and Sebastien Praicheux looks at sustainable finance and crowd funding in France. Simon Lovegrove opens the episode with a look at UK developments.
In the first instalment of our Regulation Around the World series – we will take a look at how crypto assets are regulated in various jurisdictions around the globe. We hear from Etelka Bogardi in Hong Kong, Jeremy Wickens in Australia, Glen Barrentine in the USA, Albert Weatherill in the UK and Nikolai de Koning in the Netherlands.
In this month's episode we receive an update on Brexit from Jonathan Herbst, as he discusses the future of financial services in the UK with Hannah Meakin. We speak to Imogen Garner, Iona Wright and Daniel Nevzat from our London office about product categorisation under the Sustainable Finance Disclosure Regulation (SFDR), and hear about the EU's new proposals for a digital identity wallet from Flupke van den Bogart in Brussels.
We speak to Celia Cohen in New York about recent enforcement trends in the US, particularly around whistleblowing; hear from Anna Carrier in Brussels on the new European commodities regime; and welcome Jeffrey Mushens from trade body TISA, who discusses MiFID costs and charges with Matthew Gregory and Joe Bamford from our London office.
This month we take a look at the Woolard Review in the UK with Matthew Gregory, who focusses on the implications for the buy-now-pay-later sector. We also hear from Kevin Harnisch, a partner in our Washington DC office, on SEC actions relating to environmental social governance, and speak to Claudine Salameh, a partner in Sydney, who discusses the upcoming regulatory reform storm set to hit Australia’s shores later this year.
We speak to Etelka Bogardi, a partner in our Hong Kong office, on ESG initiatives in the region; Albert Weatherill and Hannah Meakin from our London office provide an extended FinTech update, including a look at the recent Khalifa review; and Mayling Blanco, a partner in our New York office, discusses recent and forthcoming enforcement actions brought by the Department of Justice in the US.
Jonathan Herbst gives a quick update on Brexit before examining the short selling restrictions on GameStop in the US from a UK market abuse perspective. We’re delighted to be joined by Carole Begent, General Counsel and Head of Enforcement and Competition at the Payment Systems Regulator, who discusses the year ahead with our own payments professional Albert Weatherill. We also hear from Joseph Williams, a partner in Washington, DC, who takes a look at insider trading cases brought by the CTFC, and tax partner Michael Alliston, who flags a tax regulation that may have gone under the radar of many financial services businesses.
After running through the top news stories of the last month, Jonathan Herbst provides the latest update on the Brexit negotiations. We then speak to Helen Taylor, partner in our Sydney office, and John Coley, Head of Risk Consulting, EMEA, who discuss the fair treatment of vulnerable customers and how this is being dealt with in their regions. Finally, we talk to Katie Stephen and Sonya Zywko from our disputes team, who discuss the latest hot topics in enforcement.
In this episode, we run through the top news stories of the last month, before catching up with Global Head of Financial Services, Jonathan Herbst, for another update on Brexit. We also hear from Caroline Herkströter, partner in our Frankfurt office, who will be discussing the German position on reverse solicitation. Finally, we chat with Lisa Lee Lewis, Head of Advisory in our Risk Consulting practice, who provides an insight into the findings of our recent global operational resilience survey. Stay tuned to the end of that section for details on how to obtain a copy of the report.
The end of the transition period is fast approaching, and much of the future UK-EU relationship is yet to be decided, leaving many in financial services eagerly wondering what will happen next. In the first episode of the Regulation Tomorrow podcast, Jonathan Herbst, Global Head of Financial Services at Norton Rose Fulbright, provides an update on the status of the negotiations and gives his views on what’s next for financial services firms. He’s joined by Imogen Garner, who discusses the hot topics in the asset management space and Hannah Meakin, who looks at the world of market infrastructure. Both will be casting an eye on what may lie ahead.
In this episode of Regulation Tomorrow Plus, Matthew Gregory shares his insights into HM Treasury’s recent response document bringing buy now pay later businesses within scope of regulation from the Financial Conduct Authority.
In this episode of our Beyond Sanctions series, David Harris and Katie Stephen, Co-Heads of our Contentious Financial Services Group in London, discuss some recent developments regarding sanctions enforcement for regulated firms.
In the first episode of our series focusing on the FCA’s new Consumer Duty, Matt Gregory is joined by Haney Saadah and Joe Bamford who consider some of the practical issues which firms across the distribution chain will need to resolve in order to achieve the new ‘products and services outcome’.
In this episode of RT Plus, Albert Weatherill and Hannah Meakin discuss HM Treasury’s recent response to its earlier consultation and call for evidence on the UK regulatory approach to cryptoassets, stablecoins and distributed ledger technology. In particular, they consider the possible impact that the proposed changes will bring and what is around the corner for cryptoasset regulation in the UK.
In this next instalment of our Beyond Sanctions series, Haney Saadah and Steve Hadwin discuss the FCA’s recent announcement concerning cyber security in light of the events in Ukraine and what boards should be thinking about.
In this episode of our Beyond Sanctions series, David Harris and Katie Stephen, Co-Heads of our Contentious Financial Services Group in London, discuss their sanctions and governance insights from recent work, as well as some practical takeaways for firms from these.
In this next instalment of our Beyond Sanctions series, Katie Stephen and Joe Smallshaw discuss examples of market manipulation, red flags for firms and practical steps firms can be taking now to help detect and prevent market manipulation. For further information on this topic, see our guide for banks’ legal and compliance departments on manipulative trading practices, first published on Thomson Reuters Practical Law.
In the first instalment of our Beyond Sanctions series, Jonathan Herbst and Haney Saadah consider market conduct issues in light of the developments in Ukraine and the UK’s Economic Crime Bill.
In this special episode of RT Plus we are delighted to be joined by the Payment Systems Regulator's Head of Legal, Carole Begent. We discuss the recent PSR investigation into cartels, the card acquirers market review and also the work undertaken by the PSR on scheme fees. We then take a look at the regulator's priorities going forward, including a discussion around how the PSR is tackling app scam liability.
In this episode of RT Plus, Katie Stephen, Co-Head of the Contentious Financial Services Group in London, is joined by Rebecca Dulieu, Senior Associate, to discuss the FCA's recent Policy Statement on issuing statutory notices, under which the FCA is reforming its decision-making process. Katie and Rebecca discuss the key changes brought in by the Statement, their views on these and their thoughts for firms and individuals potentially impacted.
Compliance Manager, Victoria Pridmore, returns to explain what the ICARA process is and what firms should be doing to meet the requirements. She discusses the ICARA process itself, the ICARA document and issues around whether group or consolidated ICARAs are required.
In this special episode of RT Plus, Head of Risk Consulting for EMEA, Lisa Lee Lewis, is joined by Compliance Manager, Victoria Pridmore, to discuss the FCA's authorisation process. They look at different types of authorisation, the latest updates from the FCA on this subject, before walking through a typical authorisation, step by step.
In this bite sized RT Plus we continue to look at the UK IFPR. In this episode, compliance specialist, Victoria Pridmore, examines the regime's requirements around committees - including when they are required and how they should be comprised.
In the latest in our series looking at potential divergence between the EU and UK regimes in the wholesale markets space, Jonathan Herbst and Anna Carrier look at prospective changes to the bonds regime on both sides of the English Channel. Anna and Jonathan will discuss the pre and post transparency regime as well as looking at potential changes to the derivatives trading obligation.
In this episode of RT Plus, and the latest in our series on the UK IFPR, Jonathan Herbst, Hannah Meakin and Jochen Vester discuss the application of the IFPR regime to commodities firms, the relevance of any transitional provisions, the position on concentration risk and also any pitfalls that market players should be aware of.
The consultation, published on Thursday 21 October, follows the Woolard review earlier in the year, which proposed the regulation of BNPL, after a huge increase in the size of the market. In this podcast, Matthew and Joe provide their initial thoughts on the Treasury’s proposals – including which sort of firms might need authorisation and what sort of products are likely to come into scope.
In this latest podcast in our new mini-series focussing on the new UK Investment Firm Prudential Regime (or UK IFPR), brought to you as part of the Regulation Tomorrow podcast, Iona Wright and Jochen Vester look at governance requirements, the ICARA process and the new MiFIDPRU Remuneration Code to firms.
The first episode in a new RT Plus mini-series, Evolution and Divergence: Markets in the EU and UK, is available now to stream and download. This podcast is the first in a series of five podcasts covering the changing nature of markets in Europe and also the degree to which this results in divergence with the UK regime. The series will cover equities, trading venues, systematic internalisers, and bonds and derivatives. The series begins however, with a look at commodities.
Hannah Meakin and Anna Carrier will discuss scope, the ancillary activities test and also position limits, as they compare what is being proposed by the Treasury in the UK with what is currently being legislated in the EU by way of the MiFID review.
In this episode, Jonathan Herbst and Matthew Gregory discuss the impact of the PRA’s PS19/21 on foreign firms operating by way of branch or subsidiary in the UK.
In this episode we look at governance requirements, the ICARA process and the new MiFIDPRU Remuneration Code to firms under the UK Investment Firm Prudential Regime (or UK IFPR).
The first podcast in our new mini-series focussing on the new UK Investment Firm Prudential Regime (or UK IFPR) provides an introduction to the UK IFPR and its application to different types of firm – CPMIs, commodities firms, exempt CAD firms and the application to clearing members and indirect clearing members.
In this episode of RT Plus Jonathan Herbst and Hannah Meakin take a first look at the recent Wholesale Markets Review as published by the Treasury. This podcast will take an initial look at the key issues, paving the way for a more detailed examination of the proposals in a forthcoming podcast.
In this episode Albert Weatherill discusses the action taken by the FCA against the crypto trading firm Binance, and what the longer term and broader impacts of this action could be.
In this latest RT Plus podcast Simon Lovegrove, Peter Snowdon and Matthew Gregory discuss the FCA’s recent discussion paper setting out proposals to change the financial promotion rules for high-risk investments (FCA DP21/1).
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.
In this episode, Peter Snowdon and Matthew Gregory speak to Simon Lovegrove about the recent FCA consultation paper, CP21/13, on proposals for a new Consumer Duty in financial services.
In this episode, Katie Stephen, John Coley, Iona Wright and Iain Hawthorn shine a spotlight on this regulatory hot topic. The FCA recently published a review into product governance under MiFiD 2, giving some wide ranging recommendations to authorised fund managers that will also be of relevance to MiFID investment firms more broadly; while at European level, we have seen firms transitioning to interim version 3.1 of the European MiFID template (or EMT), published on February 12, with an aim to assist compliance with level 1 of the EU Sustainable Finance Disclosure Regulation (known as the SFDR).
Jonathan Herbst and Katie Stephen, partners in our London office, discuss this week's whistleblowing publications by the FCA and what this might mean for financial services firms.
John Coley, Head of Risk Consulting for EMEA, and Iain Hawthorn, a senior manager in the same team, discuss the Conduct Healthcheck and the related summary report, which is due to be published this week.
Publication
Implementing change can be challenging, especially when some people are resistant to new ways of working.
Publication
On June 22, 2022 the Financial Reporting Council (FRC) published a consultation document seeking views on publicly available audit quality indicators (AQIs) to drive audit quality improvements.
Publication
A number of enforcement actions taken by regulators around the world have been a reminder for financial institutions that board involvement in, and appropriate oversight of, anti-money laundering/countering the financing of terrorism (AML/CFT) compliance programmes is critical.
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