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accountability | Peruse our blogs for the latest, fresh perspective on navigating the maze of global regulations and upcoming milestones. This is your shortcut to staying ahead, packed with insights and expert tips from the forefront of GRC innovation.

A Shared Vision: Accountability in the UK and Ireland

accountability, regulatory strategy, SM&CR, SEAR, Ireland, UK

"We believe that our proposed reforms will create a framework to facilitate the embedding of cultural change and ensure greater individual accountability." Derville Rowland, Speech on SEAR and Individual Accountability Framework, 2 May 2019

Blockers to AI Adoption

accountability, corporate governance, risk management, AI

The Institute of Directors' survey reports five stand out brakes on AI adoption: Skills gaps (29%), costs (25%), data protection and security risks (23%), governance/ethical concerns (21%), and explainability and black-box issues (20%). Many leaders want ‘clear,...

The Future of Accountability: SM&CR Reforms

accountability, innovation, regulatory strategy, SM&CR, regulatory updates, UK

“The SM&CR has driven up standards in financial services. But we want to boost competitiveness, and support growth, by streamlining the regime while preserving its benefits.” — FCA CP25/21

The Cost of Doing Nothing

governance, accountability, compliance, risk management, GRC, Compliance Monitoring

Why Inaction Is No Longer an Option in GRC & RegTech In financial services, GRC and RegTech play a central role in building operational resilience, maintaining stakeholder trust, and meeting regulatory expectations. Yet, many organisations continue to rely on manual,...

“Regulatory Greens”: FCA’s Balanced diet

governance, accountability, SM&CR, Consumer Duty, GRC, financial crime

"Good strategy, like good nutrition, is all about balance. The right elements, working together, to support long-term health." (Emily Shepperd, FCA's COO, June 2024)

Signing off financial promotions with finesse

accountability, oversight, FCA gateway, financial promotions, marketing compliance

The UK’s financial promotions regime saw some significant changes in the past year, including the introduction of a regulatory gateway for approvers of third-party financial promotions. The emphasis on financial promotions isn’t new. In recent years, we’ve seen the...

Navigating the AI Frontier: A Regulatory Journey

governance, third parties, accountability, corporate governance, risk management, regulatory strategy, monitoring, AI

“Depending on who you speak to, AI could either lead to the destruction of civilisation, or the cure for cancer or both. It could either displace today’s jobs or enable an explosion in future productivity. The truth probably embraces both scenarios. At the FCA we are...

Is SM&CR working?

accountability, SM&CR, audit trail, AI

SM&CR Under Review: What You Need to Know The SM&CR review was announced as part of the Edinburgh reforms towards the end of 2022, with HM Treasury indicating that “ some stakeholders have raised concerns about their experiences of specific aspects of the regime .”...

Are you ready for the Consumer Duty?

governance, third parties, accountability, assessments, wealthmanagement, consumerduty, systems and controls, compliance, culture, corporate governance

Following the initial milestone of 31st October 2022, the FCA reviewed a sample of the implementation plans from some of the larger firms operating in the UK. These were firms deemed to be of higher risk as they operate in the retail market and could impact both...

CAR 2022: What should you focus on?

governance, accountability, corporate governance, risk management, funds, CAMP, audit, CASS, client assets

The Irish Client Asset Regulations (the CAR) were introduced to inspire public confidence and protect investors if an investment firm became insolvent. Revisions were made to the CAR in 2015 and today, we see Ireland preparing for further enhancements with the...

SM&CR: an update for FMIs

accountability, oversight, risk management, SM&CR, FMIs

UK Government issued a consultation paper last year setting out its proposals to replicate the Senior Managers & Certification Regime (SM&CR) for Financial Market Infrastructures (FMIs), who are not authorised firms. Here we look at the outcome of that consultation....

Trustees: The September deadline is looming. Are you ready?

governance, third parties, accountability, corporate governance, pensions, monitoring, trusts, audit trail, data sharing

From the 1 September 2022, most trusts will need to be registered with HMRC. There are a few exceptions. This follows a 12-month transition period. What’s changing and why? Back in 2017, you may recall that the UK set up the Trust Registration Service (TRS) to fulfil...

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