FCA speaks on regulatory response and changing threats

Sarah Pritchard has spoken on the future of non-financial risk and control across the 3 Lines of Defence. She discussed:

  • FCA’s campaign to warn finfluencers against promoting illegal or inappropriately risky products;
  • reacting immediately to anticipated threats – as the regulators did on SVB;
  • taking proactive and swift action on unlawful financial promotions;
  • making big tech platforms and social media take action like banning unapproved paid for financial promotions;
  • the “super-charged” approach to enforcement action against regulated firms that breach financial crime prevention standards;
  • how front line controls should properly identify threats – and should constantly assess and calibrate their systems; and
  • FCA’s new tool that allows it to assess whether firms are properly sanction screening.

Emma Radmore