GLBO 2021 insights: Regulatory change

Navigating the compliance, regulatory and operational risk landscape.

16 November 2021

Publication

Regulatory change

The regulatory landscape is fast-paced and often changing. Keep up with our latest insights. Check out key quotes, takeaways and listen to our regulation sessions from the recent Global legal and business outlook 2021.

Erika Pagano, Head of Legal Innovation and Design

"The Consumer Duty is a clear call to action—to change for the better."

Tom Harkus, Managing Associate

“When we speak to clients and ask them the top three things on their agenda, we are not surprised to see global divergence up there."

Key takeaways

  1. Effects of the global pandemic: The global pandemic has been putting pressures on UK financial services companies. UK treasury and regulators are focused on creating opportunities for the UK. The UK is looking at principle regulation as a theme

  2. Global divergence: economies are at different stages of maturity and different stages of regulatory infrastructure. The result is limited consistency and market fragmentation. We are seeing global regulators trying to achieve some harmony and consistency

  3. FCA Consumer Duty: The intended purpose of the FCA Consumer Duty consultation is to ask firms to put themselves in their customers’ shoes, empowering consumers. This regulation is on its way and companies need to participate in this consultation where possible

Richard Sims, Partner

"It's certainly the intention from both sides (EU and UK) to continue to co-operate on matters of market abuse regulation."

This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.