Conduct Risk: What It Is and Why It Matters

By The Enforcd TeamThe Enforcd Team
Conduct Risk

‘The  lessons of the last few years illustrate clearly that firms need to take proactive steps to improve conduct. Without a firm foundation in identifying the conduct risks inherent in your businesses, it will be hard to manage conduct, let alone show us and others that it is being managed. We know that most firms now understand the value in getting it right and not simply the cost of getting it wrong, and the benefit of good conduct in terms of building customer trust and analyst confidence. However, there is a long way to go, and it will not happen by regulatory osmosis. Firms and individuals need to take responsibility for their own actions.’

Tracy McDermott,  acting CEO of the FCA,  July 2015, Wholesale Conduct Risk Continue reading “Conduct Risk: What It Is and Why It Matters”


Senior Managers Regime Poll 2017

By Jane WalsheJane Walshe
Senior Managers Regime Poll 2017

On 9th February 2017, I joined Philip Allen of the BBA to deliver a webinar entitled ‘‘Enforcement Update: What the Regulator wants and expects in 2017”. 

This piece focuses on the polling that occurred during the hour, which provides an interesting snapshot into current industry sentiment around conduct risk and individual accountability – themes which are as prevalent as ever across the financial services industry. Continue reading “Senior Managers Regime Poll 2017”


FCA says Senior Managers need to take Responsibility for their Actions

By Jane WalsheJane Walshe
FCA says Senior Managers need to take Responsibility for their Actions

At a conference (Practising Law Institute Sixteenth Annual Institute of Securities Regulation in Europe) today Mark Steward, FCA Director of Enforcement and Financial Crime, made a number of comments on fines, conduct of financial services firms and senior managers need to take responsibility for their actions as well as exercise meaningful oversight of what goes on in their firms. Continue reading “FCA says Senior Managers need to take Responsibility for their Actions”


The Bank of England Stress Tests show Misconduct has biggest negative Balance Sheet impact

By The Enforcd TeamThe Enforcd Team
The Bank of England Stress Tests show Misconduct has biggest negative Balance Sheet impact

The Bank of England has published the results of it’s stringent 2016 stress tests, which incorporated a synchronised UK and global recession with associated shocks to financial market prices, and an independent stress of misconduct costs. Continue reading “The Bank of England Stress Tests show Misconduct has biggest negative Balance Sheet impact”