Steps Your Nonprofit Can Take to Mitigate Fraud Risks - Part 2
A Third Party's Perspective on Third Party Risk
Why Time Matters: Partners Lindsay Gerdes and Michael J. Bronson on Swift Action in Government Investigations
Consumer Finance Monitor Podcast Episode: Why do Fintechs Want to Become Banks?
Privacy Issues from Third-Party Website Tags
What's the Tea in L&E? Employee Devices: What is #NSFW?
Episode 331- NAVEX State of Risk and Compliance Programs
What the Board Should Be Asking About the Compliance Program
Video: Artificial Intelligence Use in Political Campaigns
Episode 329 -- Bryn Sedlacek from Aravo on TPRM Holistic Risks and Unified Visibility
Compliance Lessons from Dating in Your 50s
The Justice Insiders Podcast - AI-Washing: Everything Old Is New Again
The AI Shakeup: New Tech Innovations and the Future of Corporate Law
Principled Podcast: S11E7 | Fortifying Ethical Frameworks: Navigating Emerging Risks in the Middle East
Managing Compliance Risk for Human Trafficking and Modern Slavery
Common Scenarios Triggering False Claims Act Violations, Part 3: Claims and Investigations
Navigating Bank-Fintech Partnerships: Avoiding Common Pitfalls — The Consumer Finance Podcast
Episode 326 -- Dottie Schindlinger on Diligent's Report on Board Oversight of Cybersecurity Risks and Performance
Revisiting Financial Institution Incentive Compensation Rules Under Dodd-Frank — The Consumer Finance Podcast
Episode 325 -- AI and Emerging Compliance Frameworks
Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business: - Pillar One focuses on...more
The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more
The Financial Conduct Authority has published guidance on the challenges and expectations for principal firms with overseas appointed representatives. The AR regime allows authorized firms to appoint representatives to...more
The Solvency Capital Requirement (SCR) is designed to protect policyholders by helping ensure that insurers can survive difficult periods and pay claims as they fall due. It prescribes a specific level of capital that an...more
The Bank of England’s Financial Policy Committee (FPC) and the Prudential Regulation Authority (PRA) recently delivered a series of speeches1 raising their concerns about the evolution of private equity financing and the...more
On 23 April, the UK’s banking regulator, the Prudential Regulation Authority (“PRA”), published a letter to Chief Risk Officers setting out the results of a thematic review of private equity related financing activities....more
1. Bank regulation - 1.1 Prudential regulation - (a) General - (i) EU - ECB: Memorandum of Cooperation between ECB and CAs on third-country bank supervision - Status: Final - The ECB has published a Memorandum of...more
On 12 December 2023, the UK Prudential Regulation Authority (PRA) published the first of two near-final policy statements on the implementation of revisions to the Basel 3 standards, known in the U.K. as Basel 3.1. This...more
This is the last post in our series on the UK Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) proposals to introduce a new regulatory framework on diversity and inclusion (D&I) in the financial...more
The UK financial services regulators’ latest proposals for improving diversity and inclusion (D&I) have implications for the governance and oversight arrangements of in-scope firms. Building on existing requirements, the...more
Developing and maintaining an inclusive environment is crucial for realising the benefits of having a diverse organisation. With this in mind, the UK Financial Conduct Authority (FCA) and UK Prudential Regulation Authority...more
The UK financial regulators’ proposals for creating a new regulatory framework for diversity and inclusion (D&I) in financial services are wide-ranging and detailed but have at their heart a few consistent themes. ...more
As regulatory thinking evolves, firms must ensure that any current or planned use of AI complies with regulatory expectations. As financial services firms digest FS2/23, the joint Feedback Statement on Artificial...more
In our previous alert, we noted the speech made by Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), which built on the points made in a joint paper published by the Bank of England (BoE) and FCA on artificial...more
31 July - ESG: The European Commission adopted a Commission Delegated Regulation, setting out the first set of European Sustainability Reporting Standards (“ESRS”), together with a Q&A (see press release). The ESRS specify...more
Financial promotions of qualifying cryptoassets are now within the scope of the UK financial promotion regime. The FCA has published its final policy statement on rules for communicating financial promotions of qualifying...more
Against a background of increasing reliance on models and scenario analysis to assess future risks, the UK’s bank regulator, the Prudential Regulation Authority (“PRA”), has published a supervisory statement on “Model risk...more
The UK Prudential Regulation Authority (PRA) laid out its priorities for insurance supervision this year in a 10 January 2023 Priorities Letter. In this newsletter, we summarise the broad themes emerging from the Priorities...more
Operational Resilience – the ability for financial institutions to remain effective despite the impact of business interruptions – has shaped the plans of senior managers in financial services in the UK for over three years....more
One area the recent letter from the UK’s Prudential Regulatory Authority (PRA) to the CEOs of the UK’s banks and building societies highlighted was model risk management (MRM) use in the reporting process. What do we mean by...more
In May the PRA’s Lyndon Nelson gave a speech about the development of the Regulator’s response to cyber risk. In his speech he...more
The UK Prudential Regulation Authority (PRA) published a policy statement (PS7/21) and a supervisory statement (SS2/21) on clarifying and modernizing regulatory expectations of outsourcing and third-party risk management on...more
In recent years, operational resilience has come under the spotlight of financial regulators globally, leading to a proliferation of new regulation. The sheer number of publications on this topic can be confusing for...more
The CFRF’s practical Guide encourages UK regulated financial services firms to take active steps to manage climate-related financial risks. Background - On 29 June 2020, the Climate Financial Risk Forum (CFRF) launched...more
At the end of February, UK Finance hosted a Model Risk Management (MRM) technical briefing at their London Headquarters for 120 UK Finance members. As well as presentations from UK Finance and Mitratech, sessions also...more