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On 5 April 2023, the FCA published its Business Plan for 2023/24, outlining its work over the next 12 months to help deliver its commitments in the second year of its 3-year strategy. The Business Plan highlights that, while there are some positive developments in the UK economy, the FCA expects the economic and geopolitical […]

March was a rollercoaster in financial markets. The failures of Silicon Valley Bank (SVB), Signature Bank, and, more recently, Credit Suisse sent shock waves through the markets, and there are various takeaways for GRC professionals on good governance, risk management, and compliance. This month’s insight highlights some valuable lessons from SVB failure. SVB was a

The three elements of GRC play the following roles in a company. Governance captures a company’s overall system of rules, regulations, practices, and guidelines to operate, control and manage its business. Governance sets the tone of the behaviour, culture, ethos, and regulatory structure that helps a company reach a healthy balance between all its major

With six months to go before the Consumer Duty Regulation comes into force, the Financial Conduct Authority (FCA) published the results of its review of firms’ implementation plans on 25 January 2023. Consumer Duty will set higher and clearer consumer protection standards across financial services and require firms to act to deliver good customer outcomes.

At The GRC Network, our annual tradition this time of year is to set the tone with the key regulatory themes in the year ahead. We do this to highlight the areas GRC professionals should prioritise being familiar with. 2022 was the year for the regulators to react to the post-pandemic impact, such as financial

The FCA published its final plans, the Policy Statement and Finalised Guidance, on 27 July 2022 with their new Consumer Duty, introducing a higher level of consumer protection across retail financial markets. The implementation deadline for most of the final rules is only a year away, with the regulator expecting firms to carry out all

In April, the FCA published its three-year Strategy, setting out how it will achieve better outcomes for consumers and markets throughout the UK. Alongside that, the FCA published its latest annual Business Plan for 2022/23, setting out its priorities and actions over the next twelve months in support of the Strategy. We summarise the key

In response to the situation in Ukraine, the UK announced increased sanctions applicable to Russia on 24 February 2022. The Prime Minister who announced these described by them as “the largest and most severe package of economic sanctions that Russia has ever seen”. These are available on the Foreign, Commonwealth & Development Office website. This month’s insight provides

At The GRC Network, our tradition for every new year is to set the tone with the key regulatory themes in the year ahead. We do this to highlight the areas that GRC professionals should focus on for the year and identify how these changes could impact work carried out in the regulatory space.  Following

On 3 November 2021, the FCA published its strategy on ESG, which was timed to coincide with COP26 Finance Day. The strategy outlines how the regulator intends to deliver on the target ESG-related outcomes included in its Business Plan for 2021/22. The aim is to support the financial sector in driving positive change while also