Financial services risk and regulation

The financial services market is an ever-changing landscape and is seeing greater levels of regulation and new risk exposures. This is making it more challenging for firms to understand and achieve the required standards of compliance and effectively manage their risk profile.

Our experienced team of financial services risk and regulatory advisors can help you identify and manage existing and emerging risks, supporting you to effectively manage your risk profile and minimise the risk of regulatory scrutiny.

Specialist advice for specialist organisations

The knowledge and experience gained by working with clients in this diverse industry means we understand the regulatory and compliance pressures that you face.

Financial services firms grow at pace, so it is imperative that their controls evolve as their businesses grow. We acknowledge that firms must achieve their commercial objectives, whilst simultaneously meeting regulatory obligations. That’s why our advice and guidance is always tailored and pragmatic.

We provided a broad range of risk and regulation services to a diverse range of financial services organisations, including:

  • banks;
  • payment services firms;
  • electronic money providers;
  • wealth and asset managers;
  • consumer credit firms;
  • corporate finance houses;
  • family offices;
  • insurance providers; and
  • fintechs.

Our key areas of expertise include:

  • governance;
  • Senior Managers and Certification Regime (SMCR);
  • risk management;
  • prudential risk;
  • financial crime;
  • conduct risk;
  • risk and compliance systems and controls; and
  • client money and assets (CASS).

Our team has experts in all areas of financial services regulation, including:

  • the various sourcebooks contained within the FCA and PRA handbooks;
  • core UK regulation such as the Financial Services and Markets Act 2000, the Money Laundering and Terrorist Financing Regulations (as amended 2019), the Electronic Money Regulations (2011), and the Payment Services Regulations (2017); and
  • cross border regulatory requirements, including: Fifth Money-Laundering Directive (5MLD), Markets in Financial Instruments (MiFID and MiFID 2), General Data Protection Regulation (GDPR), and the Payment Services Directive (PSD1 and PSD2).

As a recognised member of the FCA/PRA Skilled Person panel we regularly conduct Section 166 reviews.

Through bespoke, partnership-based relationships with clients, we deliver assurance reviews to assess whether firms are operating compliantly. Other types of services we offer, include:

  • regulatory due diligence;
  • target operating model design;
  • strategy formulation;
  • gap analyses and improvement programmes across the three lines of defence;
  • benchmarking;
  • regulatory advice and guidance;
  • regulator interaction and communications;
  • regulatory staff training;
  • gone aways;
  • development of third-party oversight frameworks;
  • framework, policy and procedure design and uplift;
  • project and programme management;
  • remediation support; and
  • change transformation and implementation.

Through a tried and tested methodology, our reviews provide firms with assurance that they are operating compliantly, identifying and patching any gaps in compliance by creating a detailed action plan that suits your ways of working.

If you would like to find out more about our financial services risk and regulation services, please contact Paul Jennings.