Regulatory compliance is an ongoing source of business change for financial services businesses. The FSA have a number of initiatives in place to remedy a number of industry shortcomings including public confidence in the industry, product selling and firms’ financial adequacy. Headline regulatory compliance areas include:
- Alternative Investment Fund Managers Directive (AIFMD)
- Anti Money Laundering (AML)
- Basel II
- Blue Book/City Code
- Conduct of Business Sourcebook (COBS)
- Insurance Conduct of Business Sourcebook (COBS)
- Marketing in Financial Instruments Directive 2 (MiFID 2)
- Retail Distribution Review (RDR)
- Solvency II
- Treating Customers Fairly
With one regulatory initiative being layered upon another many financial services businesses are suffering from change fatigue. Then, with pressures to improve operating ratios for better investor returns, business leaders are asking more and more of their staff.
Regulatory changes often involve extended cross-functional collaboration, which can be run in parallel to business-as-usual and a number of other ‘priority’ change initiatives
Fortunately we have experience in keeping regulatory initiatives ‘front of mind’ and leading the business change teams to deliver regulatory compliance within the required timeline.
Discover our approach to managing business change and how we support this with effective change communications. Also browse the information and news about new regulatory requirements for UK financial services businesses.
Contact us for more information.