Up next from the regulators

Nikhil Rathi and Sam Woods, CEOs of the FCA and PRA respectively, have set out the regulators’ current areas of focus. Highlights from Mr Rathi’s speech include that the FCA:

  • is collaborating with international partners to deliver a world without LIBOR, transition to a net-zero economy and maintain high regulatory standards;
  • is investing to become as much a data regulator as a financial one, working with partners to realise a future where compliance checks can be completed in near real time; and
  • is calling on the financial services sector to partner with the FCA to seize the opportunities presented by the profound forces transforming the sector and society.

The PRA’s priorities include:

  • updating the PRA’s operating model to reflect changes to its role after Brexit;
  • responding to climate change; and
  • the review of regulatory requirements for insurers (Solvency II).

Lucy Hadrill