Author: sianlewin

An April shower of regulatory business plans…

On Monday 9th April, both the PRA and FCA published their 2018-19 business plans, giving us an insight into their policy and supervisory priorities for the next twelve months. Three key themes emerged from both of the UK financial regulators work programmes – Brexit, unsurprisingly, a focus on operational resilience and the ongoing innovations in…
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Looking through the regulatory crystal ball….

The first two weeks of 2018 have seen the introduction of two of the biggest pieces of regulation since Basel 3 – MiFID II and PSD2. Both regulations have the potential to radically change the shape of wholesale and retail financial markets respectively, and there is likely to be a long tail of implementation clean-up. Whilst…
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Regulatory change is the new normal – so what?

  Financial regulation appears to be in perpetual motion. Arguably the waves of change are smaller now than the regulatory ‘tsunami’ that followed immediately after the financial crisis but the impacts are still being felt by financial industry. If regulatory change is here to stay, what are the implications for regulated firms and the fulfilment of…
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Regulatory relationships – co-operation or combat?

  Viewers of the TV Show Billions could be forgiven for thinking that relationships between rule enforcers and those they oversee are always full of conflict, personal vendettas and elaborate schemes to get one up on the other. However, my research on regulatory interactions within the UK banking industry since the financial crisis shows that…
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Regulatory change – a managerial balancing act

I have spent the past four years investigating how banks have dealt with the unprecedented volume of regulatory change since the financial crisis. This is the first of a trilogy of posts which outline some of my key findings. Whilst acknowledging that the current regulatory challenges facing the financial sector are different – Brexit, FinTech,…
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Bad apples or rotten barrels? How sociological thinking can help address financial misconduct.

Recently, US and UK regulators announced that six global banks (including Barclays and RBS) will pay over $5.6bn between them in fines for the manipulation of benchmark exchange rates in the foreign currency markets. This is the latest in a seemingly never-ending series of financial scandals including the ‘London Whale’ traders at JP Morgan, the…
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