Regulation Tomorrow podcast
Episode 15 (22 June 2022): Regulation Around The World series - Anti-money laundering
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
(Apple Podcasts / Spotify)
Episode 14 (17 May 2022): Regulation Around The World series - Beyond Sanctions
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.
(Apple Podcasts / Spotify)
Episode 13 (17 March 2022): Regulation Around the World series - Horizon scanning
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.
(Apple Podcasts / Spotify)
Episode 12 (15 February 2022): Regulation Around the World series - Crypto-assets
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.
(Apple Podcasts / Spotify)
Episode 11 (18 October 2021):
In this episode we hear from Celia Cohen in New York who discusses privilege, particularly in the context of internal investigations; Joe Smallshaw and Catherine Pluck discuss the Frensham case and how the FCA treats non-financial misconduct; and Lisa Lee Lewis and Nabeelah Begum give an update on how anti-money laundering and counter terrorist finance regimes are dealing with cryptos.
(Apple Podcasts / Spotify)
Episode 10 (26 August 2021): US payments landscape; FCA 2021/22 Business Plan - key takeaways; UK counter terrorist financing and anti-money laundering regime
In this month's podcast we hear from our US Head of Fintech, Steve Aschettino, who gives an overview of the payments landscape in the US and some of the prevailing trends in the area; John Coley, who discusses the main takeaway points from the FCA’s 2021/22 Business Plan; and Lisa Lee Lewis, who provides an update on the counter terrorist financing and anti-money laundering regime in the UK.
(Apple Podcasts / Spotify)
Episode 9 (15 July 2021): The future of UK financial services; Biden administration anti-corruption memo, exemptions changes in Australia, draft AML bill in China
In this month’s podcast we speak to Jonathan Herbst about the future of financial services in the UK and the HMT Wholesale Markets Review. We are also joined by Sam Ramer from our US practice, who explains the impact of the Biden Administration’s memo on establishing the fight against corruption; discuss changes to the foreign financial services providers regime in Australia with Jon Ireland from our Sydney office; and close with a look at the draft amended anti-money laundering law in China that is currently in consultation with partner in our Shanghai office, Sun Hong.
(Apple Podcasts / Spotify)
Episode 8 (15 June 2021): Brexit update; Product categorisation under the SFDR; the EU's new proposals for a digital identity wallet
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.
(Apple Podcasts / Spotify)
Episode 7 (13 May 2021): US enforcement trends and whistleblowing; the new EU commodities regime; MiFID costs and charges
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.
(Apple Podcasts / Spotify)
Episode 6 (8 April 2021): Woolard review on BNPL; SEC actions on ESG; regulatory reform in Australia
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.
(Apple Podcasts / Spotify)
Episode 5 (11 March 2021): ESG initiatives in Hong Kong; FinTech update and Khalifa review; enforcement actions brought by the DoJ in the US
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.
(Apple Podcasts / Spotify)
Episode 4 (4 February 2021): Gamestop in the US; the UK payments outlook for 2021; insider trading cases at the CTFC in the US; tax issues for regulated businesses
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.
(Apple Podcasts / Spotify)
Episode 3 (11 December 2020): Brexit negotiations; fair treatment of vulnerable customers in the UK and Australia; hot topics in enforcement
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.
(Apple Podcasts / Spotify)
Episode 2 (4 November 2020): Brexit update; reverse solicitation in Germany; global operational resilience survey
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.
(Apple Podcasts / Spotify)
Episode 1 (8 October 2020): The future UK/EU relationship; hot topics in asset management; updates on market infrastructure
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus podcast
RT Plus – HM Treasury’s proposals for buy now pay later
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.
(Apple podcasts/ Spotify)
RT Plus - Beyond Sanctions – Enforcement
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.
(Apple podcasts/ Spotify)
RT Plus - The Consumer Duty series: Impact on the distribution chain
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’.
(Apple podcasts/ Spotify)
RT Plus - HMT response to the consultation and call for evidence on the UK regulatory approach to cryptoassets, stablecoins and DLT
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.
(Apple podcasts/ Spotify)
RT Plus - Beyond Sanctions - Cyber resilience
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.
(Apple podcasts/ Spotify)
RT Plus – Beyond Sanctions - Sanctions and governance insights
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.
(Apple podcasts/ Spotify)
RT Plus – Beyond Sanctions - Market manipulation
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.
(Apple podcasts/ Spotify)
RT Plus - Beyond Sanctions – Market conduct and Economic Crime Bill
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.
(Apple podcasts/ Spotify)
RT Plus – In conversation with PSR Head of Legal, Carole Begent
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.
(Apple podcasts/ Spotify)
RT Plus - PS 21/16 on issuing statutory notices: A new approach to decision makers
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.
(Apple podcasts/ Spotify)
RT Plus - UK IFPR Series: ICARA
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.
(Apple podcasts/ Spotify)
RT Plus - FCA authorisations in focus
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.
(Apple podcasts/ Spotify)
RT Plus - UK IFPR Series: Committees
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.
(Apple podcasts/ Spotify)
RT Plus - The Future Regulatory Framework
In this special episode of RT Plus, Jonathan Herbst and Matthew Gregory are joined by UK Finance's Director of Strategy and Policy, Matthew Conway, and together they will be discussing the Treasury's latest consultation paper on the Future Regulatory Framework Review. The discussion touches on the notion of new regulatory principles, the nature of a Designated Activities Regime and what the legislative timetable is likely to be.
(Apple / Spotify)
RT Plus - UK IFPR Series: Group consolidation
In the latest episode of the UK IFPR Series Jonathan Herbst and Jochen Vester discuss the group consolidation requirements under the UK IFPR. They look at the factors which trigger the requirement to consolidate and also whether or not firms can rely upon the group capital test.
(Apple / Spotify)
Regulation Tomorrow - Evolution and Divergence: Markets in the EU and UK (Bonds and Derivatives) (25 November 2021)
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.
(Apple / Spotify)
Regulation Tomorrow Plus - Recent U.S. Enforcement Developments (17 November 2021)
In this episode of RT Plus, Celia Cohen and Samuel Ramer, both partners in NRF's US practice, discuss recent U.S. enforcement developments. Drawing on a wealth of prosecutorial and in-house investigatory experience, Celia and Samuel explore how these developments may affect corporations globally, and provide practical tips for companies to reduce the risk of potential enforcement actions.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus - UK IFPR Series (11 November 2021): Commodities firms
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus - HMT consultation paper on the regulation of Buy Now Pay Later products
In this latest episode we speak to Matthew Gregory and Joe Bamford about the Treasury’s consultation paper on the regulation of Buy Now Pay Later (BNPL) products.
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus - Evolution and Divergence: Markets in the EU and UK (Equities)
In the second episode of this mini series, Jonathan Herbst and Anna Carrier discuss the Treasury’s proposals in respect of the equities regime, and the Commission’s proposals and intentions on the same. Jonathan and Anna look at pre trade transparency, consolidated tape and the share trading obligation, discussing the UK and EU's differing approaches and the ramifications of that.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus – UK IFPR series (20 September 2021): Governance and Remuneration
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus – Evolution and Divergence (25 August 2021): Markets in the EU and UK – Commodities
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus – PS19/21 (24 August 2021): The PRA’s approach to branch and subsidiary supervision
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus – UK IFPR series (23 August 2021): Own funds requirements, fixed overheads requirements, K-AUM and K-COH
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).
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus - IFPR series (16 August 2021): An introduction to the UK IFPR and its application to different types of firm
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus (19 July 2021): The Treasury's Wholesale Markets Review; a first look
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus (30 June 2021): FCA takes action against Binance
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus (28 June 2021): Common issues relating to market disclosure
In this episode of RT Plus Katie Stephen and Sonya Zywko discuss how to avoid common pitfalls when making market disclosures as instructed by a regulator.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus - FCA DP21/1 (7 June 2021): Strengthening our financial promotion rules for high-risk investments and firms approving financial promotion
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).
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus (27 May 2021): Randell's recent speech on outcomes based regulation
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus - CP 21/13 (25 May 2021): The new Consumer Duty
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus - CP21/9 (11 May 2021): Changes to UK MIFID's conduct and organisational requirements
Jonathan Herbst, Imogen Garner, Hannah Meakin and Matthew Gregory discuss the FCA's recent consultation paper, CP21/9, which is proposing changes to UK MIFID's conduct and organisational requirements.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus (23 April 2021): Spotlight on Product Governance
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).
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus (26 March 2021): The FCA's whistleblowing publications
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.
(Apple Podcasts / Spotify)
Regulation Tomorrow Plus (9 March 2021): The Conduct Healthcheck
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.
(Apple Podcasts / Spotify)