Displaying 1-50 of 250 results
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Solvent exit planning for UK banks and insurers
- 15 Jul 2024
- Michelle Adcock, Prudential Banking Sector Lead & Alisa Dolgova, Prudential Insurance Sector Lead, for KPMG
The UK already has a robust resolution regime for banking institutions, which was first implemented in the wake of the Global Financial Crisis. Focus has historically been on the resolvability and exit strategies of the largest ‘too-big-to-fail' banks.
Exclusive
Motor Finance: investigation if widespread misconduct
- 05 Jul 2024
- ICAEW Financial Services Faculty
In January 2024 the FCA announced it will investigate whether there is historical evidence of widespread misconduct in relation to sales of motor finance.
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IFRS 18: Financial services considerations
- 01 Jul 2024
- ICAEW Financial Services Faculty
The International Accounting Standard Board recently published IFRS 18, Presentation and Disclosure in Financial Statements. While much of the material is carried across from IAS 1, there are some new requirements, notably affecting the profit and loss disclosures.
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Attesting time for financial services
- 01 Jul 2024
- ICAEW Financial Services Faculty
ICAEW’s Financial Services Faculty highlights the potential implications of the new Corporate Governance Code attestation requirement on banks and insurers.
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Climate based disclosure guidance under IFRS S2 for Insurers
- 16 May 2024
- ICAEW Financial Services Faculty
With the release of IFRS S2 Climate-related disclosure in June of 2023, insurers who are considering a voluntary application of the standard in advance of any endorsement by local authorities are looking into what the new requirements mean for them.
Opportunity knocks: catching up with Kamidu Ravindra
- 04 Apr 2024
- ICAEW Insights
Three years after making London his home, insurance specialist Kamidu is continuing to embrace everything the city and the accountancy profession has to offer.
What do changes in the professional indemnity (PI) insurance market mean for members?
- 28 Mar 2024
- Marsh Commercial
The insurance industry tends to be cyclical, with a typical cycle spanning several years. The cycles involve periods of soft market conditions and hard market conditions – impacting commercial businesses in different ways. Marsh Commercial explain the opportunities of the soft market, the impact of the hard market and the benefits of access to the exclusive members’ PI insurance scheme.
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Assurance challenges in the context of CSRD
- 20 Mar 2024
- ICAEW: Financial Services Faculty
Polly Tsang, Senior Financial Services Regulatory Manager, considers some of the challenges of assurance over CSRD.
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Insurance supervisory priorities and risks
- 23 Feb 2024
- ICAEW Financial Services Faculty
The PRA has published a letter setting out its 2024 supervisory priorities for insurers.
What’s driving the UK tax insurance boom?
- 26 Jan 2024
- ICAEW Insights
Lower prices, deeper expertise and broader risk appetites are just some of the factors behind huge growth in the market.
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The Sustainability Disclosure Regime and Investment Labels Goes Live in 2024
- 18 Jan 2024
- ICAEW Financial Services Faculty
In a world grappling with environmental and social challenges, investors are increasingly drawn to funds that align with sustainability goals.
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FCA proposals to support diversity and inclusion
- 24 Nov 2023
- ICAEW Financial Services Faculty
Concerns that financial services organisations are paying lip service to DE&I has prompted proposals that strengthen the regulator’s expectations around non-financial misconduct.
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Data sharing as a policy intervention
- 21 Nov 2023
- David Bholat
The recent and spectacular advances made in generative artificial intelligence have been possible because of shared data.
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Challenges with accounting for insurance-associated emissions
- 21 Nov 2023
- ICAEW, Financial Services Faculty
Similar to other areas within financial services, the insurance industry has a key role to play in enabling the transition to a net-zero economy.
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Exploring Critical Questions in CSRD Assurance for Professional Service Firms
- 16 Nov 2023
- Polly Tsang, ICAEW Financial Service Faculty
Polly Tsang, Financial Services Manager explores some of the issues Professional Services Firms need to be thinking about now with the introduction of the Corporate Sustainability Directive (CSRD) in 2025.
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IFRS 9 Financial Instruments and procyclicality
- 27 Oct 2023
- ICAEW, Financial Services Faculty
Earlier this year the IASB launched a call for evidence as part of its post implementation review of the impairment requirements in IFRS 9 Financial Instruments. Some respondents to the call for evidence pointed out that the impairment model in IFRS 9 is procyclical, a point also discussed by the ECB in a working paper published in June 2023.
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Challenges with accounting for financed emissions
- 22 Sep 2023
- ICAEW Financial Services Faculty
In recent years, the issue of "financed emissions" has become a crucial aspect of the climate change discussion, highlighting the significant role that financial institutions play in contributing to greenhouse gas emissions.
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UK proposals on how to regulate ESG ratings providers
- 11 Aug 2023
- Polly Tsang, Financial Services Faculty
Following HM Treasury’s consultation on its proposed regulatory regime for environmental, social, and governance (ESG) ratings providers, Polly Tsang, ICAEW’s Financial Services Regulatory Manager, outlines the planned rules and where they should be expanded.
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Cryptoassets and making the case for regulation
- 20 Jun 2023
- Reuben Wales: Financial Services Faculty, ICAEW
Regulating new forms of technology is never easy. If they are being developed within financial services, the ask is even greater.
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SMCR reform: proposals for change in challenging times
- 10 May 2023
- ICAEW: Financial Services Faculty
The government is seeking to review the SMCR as part of its Edinburgh reforms, but how do reforms looks set to pan out and how will potential changes help the government meet its objectives of supercharging the UK’s financial services sector?
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Similarities and differences between UK banks and insurers
- 24 Apr 2023
Banks and insurers are both balance sheet businesses. But there are significant differences in their business models and the risks they face which explain why recent economic events have not had the same effect on insurers as some banks.
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Financial products in a fintech world
- 20 Mar 2023
- Daniel Langdon
Fintech startups have become more and more established within the financial services industry in recent years. But a new wave of innovation is still around the corner, writes Daniel Lanyon.
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Housing gets all the attention, but commercial property is being hit harder
- 21 Feb 2023
- David Smith
For some sectors of the economy, it never rains but it pours. Commercial property is dealing with a range of challenges, none of which it could have anticipated even relatively recently.
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Inflation negation
- 21 Nov 2022
- Beth Holmes
Investment managers face difficult decisions given present inflationary headwinds, with certain types of investments faring better than others. With inflation at a 40-year high, what strategies are being deployed by fund managers to negate its impact?
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Banks dodged a windfall tax bullet, but the government’s still desperate for revenue
- 21 Nov 2022
- David Smith
Interest rates had gone up sharply, and households and businesses were feeling the pain. Inflation was in double figures, partly under the impact of soaring energy prices, and the government was under pressure. In response, the chancellor announced a change that sent shudders through the banking sector.
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Auditing amid economic uncertainty
- 21 Oct 2022
- Adam Leach
On September 23rd, Kwasi Kwarteng, who had been appointed as Chancellor of the Exchequer just 17 days earlier, held what he called a ‘fiscal event’…and quite the event it turned out to be.
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How a blow up in the gilt market sent shudders through the system
- 21 Oct 2022
- David Smith
We have been through the most extraordinary period of political, economic and market instability, including the replacement of a chancellor, Kwasi Kwarteng, after less than 40 days in office.
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Cost of Living Crisis – implications for consumers, firms and regulators in financial services
- 20 Oct 2022
- ICAEW: Financial Services Faculty
The current cost of living crisis presents an extraordinary challenge for firms and regulators to address a rapidly developing situation in an environment of political uncertainty.
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Financial meltdown: will we ever learn?
- 20 Oct 2022
- Beth Holmes
After the early 1970’s budgets from Anthony Barber, ‘Barber boom’ acquired textbook status of how not to engage in fiscal largesse. Yet have we done it all over again?
How far could a Big Bang 2.0 go?
- 14 Oct 2022
- ICAEW
Dramatic reforms to financial services regulation are a cornerstone of the government’s strategy to meet its 2.5% growth target.
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UK insurers seek to avoid insurance gap amid 40-year high levels of inflation
- 26 Sep 2022
- ICAEW
The UK finds itself in a perilous economic position at the moment.
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For the new PM, crisis management and driving stronger growth are strange bedfellows
- 26 Sep 2022
- David Smith
The Conservative Party, sometimes said to be one of the world’s most effective election-winning machines – a reputation that may be tested at the next general election in 2024 – is also quite good at reinventing itself.
The Consumer Duty: assessing fair value of products and services
- 23 Sep 2022
- Lucy Beverley
In this article, we take a deep dive into the ‘fair value’ outcome of the Consumer Duty, including a look at how firms might evaluate and evidence this outcome, and the skills and resources needed to do so.
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Covid-19 loan repayment picture starts to form
- 23 Aug 2022
- Brian Cantwell
The first of many forthcoming government updates on Covid loan scheme repayments were released, but what are the potential outcomes for fraudulent activity, writes Brian Cantwell.
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The realities of Solvency II reform for insurers
- 23 Aug 2022
- Adam Leach
Details on investment asset risk and allocation are crucial to delivering on general political promises, writes Adam Leach.
How long will the cost of energy run the economy
- 23 Aug 2022
- David Smith - Times economics editor
The Times economics editor David Smith considers what the rising price of energy will mean for financial services and ESG in an exclusive column for the Financial Services Faculty.
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What you need to know about the AML and sanction updates
- 22 Aug 2022
- Mike Miller, ICAEW Economic Crime Manager
A series of changes to the UK financial system have been made to support sanctions on Russia following its invasion of Ukraine. Mike Miller, ICAEW Economic Crime Manager, explains the changes affecting financial services.
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Understanding the Financial Services and Markets Bill
- 22 Aug 2022
- Laura Miller
Laura Miller examines forthcoming legislation to reform financial services after Brexit and what it means for the sector.
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FCA publishes final rules on Consumer Duty
- 19 Aug 2022
- Philip Deeks, Director, KPMG EMA Regulatory Insight Centre
Philip Deeks, Director, KPMG EMA Regulatory Insight Centre examines the FCA’s final rules on firms’ consumer duty.
Exclusive
What you need to know about regulatory initiatives
- 22 Jul 2022
- Financial Services Faculty
The Financial Conduct Authority (FCA) has published a document for use by the financial services sector that covers its upcoming regulatory developments over the next year.
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Update on the Green Finance Initiative
- 22 Jul 2022
The ICAEW Financial Services Faculty reports on the response to the BEIS update on the Green Finance Initiative.
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Financial services How to manage in an inflationary environment
- 22 Jul 2022
- Laura Miller
Laura Miller looks at practical steps for financial services firms to manage changing inflationary headwinds.
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Is insurance facing an innovation crisis?
- 22 Jul 2022
- Beth Holmes
A drastic fall in the valuations of insurtech as investors eye returns could damage innovation in the field, writes Beth Holmes for the ICAEW Financial Services Faculty.
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Could a crypto crisis progress digital payments?
- 21 Jul 2022
- Billy Bambrough for the ICAEW Financial Services Faculty.
Volatility in the crypto market and regulatory developments could advance payment technology, writes Billy Bambrough for the ICAEW Financial Services Faculty.
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What the critical third parties' policy means for firms
- 21 Jul 2022
- ICAEW Financial Services Faculty
ICAEW Financial Services Faculty talks to Deloitte about the implications of regulating third party service providers.
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Eight key points on the future of UK financial services regulation
- 27 Jun 2022
- ICAEW Financial Services Faculty
The Treasury Select Committee has laid out recommendations for the future of financial regulation in the UK.
Banks could be caught up in IFRS 17 unexpectedly
- 27 Jun 2022
- Brendan van der Hoek, Santander technical accounting
Brendan van der Hoek, explores the impact of the new insurance standard, IFRS 17, for banks who are not insurers
Exclusive
Competing interests ESG savings investments and Gen Z
- 27 Jun 2022
- ICAEW Financial Service Faculty
There was already an “alarming lack of understanding among investors” and conflict has made the dynamism of ESG acutely clear. For younger people under pressure to save and invest amidst a cost of living crisis, there may be tough decisions to make.
Exclusive
How insurable is climate change
- 24 Jun 2022
- Adam Leach
The awkward question for governments, insurers and consumers is rearing its head, writes Adam Leach for ICAEW Financial Services Faculty.
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Greenwashing the next mis-selling scandal
- 24 Jun 2022
- Laura Miller
Laura Miller looks at regulatory enforcement in the ESG fund space and whether funds have been mis-sold.
Displaying 1-50 of 250 results