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.