Following the Rules

Following the Rules

An insider’s guide to the laws dictating life within UK and EU financial services, the people influencing their development and policing finance workers’ compliance

Episodes

March 26, 2024 42 mins

Today’s guest discusses the policy and regulatory outlook for artificial intelligence in the US, UK and EU and outlines how policymakers, regulators and City bosses can best manage the risks arising from the financial industry’s increasing use of AI technology. 

She details the policies that she would like politicians in the US and UK to prioritise ahead of elections in both jurisdictions.

She outlines how finance giants’ governmen...

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Today’s episode is a special one produced in association with Global Relay, a technology firm providing global financial services firms with the software to capture, store and monitor their employees’ communications.

Today’s guest outlines how financial services companies and their regulators are preparing for an expected clampdown on employees’ social media use. He outlines how an increasing regulatory focus on City workers’ behav...

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Today’s guest outlines how finance bosses can best support those running their risk, audit, and compliance functions to avoid serious disruptions in future.

He cautions that without such investment in their governance, regulatory and controls functions, financial institutions risk inducing regulatory fatigue and provoking “flight risk” amongst valued senior staff.

He also details how he believes senior risk, audit and compliance pr...

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Today’s episode is a special one produced in association with Global Relay, a technology firm providing global financial services firms with the software to capture, store and monitor their employees’ communications.

Today’s guest highlights the surveillance blind spots that pose “massive” compliance risks to large sections of the financial services industry. She explains why an aggressive clampdown on bankers’ WhatsApp use, as see...

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Today’s episode is a special one produced in association with Smarsh, a global technology firm providing regulated organisations of all sizes with cloud-native digital communications capture, retention, and oversight solutions to help them identify regulatory and reputational risks within their communications data before those risks become fines or headlines. 

Today’s guest details what he believes will be this year’s most pressing...

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Today’s guest discusses UK regulators’ recent proposals to foster diversity and inclusion in the City, including the aspects of the measures she would like to see given more consideration and the role finance bosses must play to ensure the initiative’s success. 

She details how AI tools are being used to adapt the role of the compliance officers she manages and the skillset she believes will be required for future compliance office...

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Today’s guest outlines the three financial services reforms he expects the next government will prioritise. He details where he believes this government has gone wrong in its efforts to establish the UK as a thriving investment hub post-Brexit, and he explains what changes to the financial services sector he believes this government should avoid in order to keep the City as competitive as possible.

Jon McLeod has spent 26 years a...

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Today’s episode is a little different to normal. It is a recording of a recent panel discussion from City & Financial Global’s ninth annual 'Culture and Conduct Forum for the Financial Services Industry'. I was invited to moderate a panel on moral capitalism and we discussed how financial services can best link their profits with their purpose, how the newest intake of graduates are influencing firms decisions as they define an...

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Today’s guest outlines what UK lawmakers have missed in their efforts to address the fallout from the cost-of-living crisis. He details what policy changes the next government should prioritise to prevent long-term damage arising from the aftermath of the crisis. And he explains how the Financial Conduct Authority’s new consumer-focused rules should best be implemented to support financial services firms’ most vulnerable clients. 

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Today’s guest outlines how the UK can best prepare for a move to a cashless society. He calls on lawmakers to do more to guide those uncomfortable with that move through the transition to a digital economy and explains why any such digital inclusion programme must start with a clampdown on the UK’s “big” digital fraud problem.

John Howells is a former banker and consultant who has run the UK’s cash machine network since taking over...

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Today’s guest outlines why consumer advocacy should matter to those working in financial services and how those in the sector who agree can best get their voices heard.

He details what he would like to change about the UK markets watchdog the Financial Conduct Authority and UK regulation in general. And he discusses why he believes a “derisory” compensation package has been offered to investors who fell victim to the failed fund ru...

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Today’s episode is a special one produced in association with Smarsh, a US-headquartered technology firm providing global financial services companies with the tools to capture, store, and monitor their communications.

Today’s guest outlines how he expects the rise of artificial intelligence tools to change the way in which financial institutions’ run their compliance divisions and how compliance professionals, and the regulators t...

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Today’s guest calls on City executives to play a more proactive role in guiding regulators and policymakers in their efforts to both future-proof and foster competition within the UK’s financial services sector.

She discusses how she believes the UK’s financial sector and its regulators can best navigate the vast programme of regulatory change derived from such efforts to bolster the City post-Brexit.

And she outlines the mindset s...

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Today’s guest discusses why he believes London has lagged other financial centres in recent years. He outlines the issues within UK financial services he believes City watchdogs should prioritise to strengthen London as a financial centre and as a listing exchange amid what he sees as a post-Brexit crisis of confidence.

He also details what measures policymakers can take to boost London’s appeal and competitiveness in the lead-up t...

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Today’s guest outlines the changes he believes are necessary to future-proof both the UK’s finance regulator the Financial Conduct Authority and the country’s top prosecution agency the Serious Fraud Office. And explains why it’s vital for the two organisations to begin working together more effectively.

He also discusses how the UK’s accountability regime for senior City staff could be improved, where the City needs clarity from t...

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Today’s guest discusses his tenure as chair of the UK finance regulator the Financial Conduct Authority including his highs and lows in the role, and his advice for those now running the watchdog. He also outlines what unfinished business he had on leaving the FCA, and in doing so explains why “the time is now” for UK policymakers to do more to stamp out financial exclusion in the country.

Charles Randell spent 24 years as partner ...

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As UK watchdogs continue their drive to stamp out aspects of poor culture within the financial services sector, those tasked with responding to the many ongoing and upcoming regulatory requirements can easily feel overwhelmed.

Today’s guests outline what financial services bosses and board should do to cut through the regulatory noise while still building ethical organisations, as well as the common mistakes they should avoid.

They...

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Today’s episode is a deep dive into the culture of the UK’s top financial watchdogs: the Financial Conduct Authority and the Prudential Regulation Authority. In it, I reveal that the FCA received 38 allegations of bullying, harassment racism and discrimination taking place within its ranks in 2020, 2021 and 2022, while the PRA received three such reports from amongst its workforce over the same time period.

Together with today’s gu...

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Today’s guest outlines how she expects financial services bosses and the policymakers setting their rules will adapt to a “paradigm shift” in global geopolitics that will see China get increasingly assertive, US more protectionist and Russia more aggressive. She details the investment opportunities that she believes will arise from these changes to geopolitical dynamics and the likely regulatory reaction to that. And she explains h...

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Today’s guests detail the opportunities they believe that lawmakers missed when drafting their plans to regulate crypto-assets in the UK. They explain how financial services regulation could be improved if the industry’s watchdogs did more to integrate technology underpinning crypto-assets into their operations. And they offer advice to compliance and regulatory execs looking to make the jump from working in traditional finance to ...

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