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Governance, Culture and Individual Accountability

Regulator sensitivity to culture and conduct continues to increase and is driving significant change in the way financial services companies self-govern and respond to external challenge. In recent years the connection between an organisations business model, their strategy, and its culture and governance has been illuminated like never before. We are helping clients understand, in a commercial and pre-emptive way, how strategic choices will impact behavioural risk in their operation. 

Top three things on the horizon

Autumn 2021

1. Diversity and inclusion in financial services: the regulators outline their plans - On 7 July 2021, the regulators started to put some flesh on the bones of that philosophy, by publishing a joint discussion paper (DP21/2) outlining their plans to improve diversity and inclusion in the financial services sector - Read here
2. The FCA signals “paradigm shift” in expectations of firms in retail markets with its consultation on a New Consumer Duty (CP21/13) – he FCA’s consultation paper CP21/13 “A new Consumer Duty” for financial services firms in retail markets proposes higher expectations for firms’ standards of care towards consumers - Read here
3. The role of INED - What are regulators’ expectations of independent non-executive directors (INEDs) of regulated financial services firms? - Read here

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