This discussion at XLOD London 2026 focused on modernizing risk and controls in financial services.
Supervision
While not new rules, these observations remind us that SEC examinations prioritize whether actual practices match a firm's disclosures, policies, and fiduciary duties, rather than its original intentions.
FINRA has advanced two major proposals amending the rule on communications with the public, articulating a risk-based framework for communication review.
Firms should expect continued emphasis on sound governance, operational resilience, and transparent supervisory engagement.
The final RTS establish common classification criteria for AML/CFT breaches as well as criteria for applying administrative sanctions and pecuniary penalties.
The FCA’s new investment disclosure regime is a sign that the regulator is more closely scrutinizing compliance and consumer duty outcomes in the sector.
The skills needed to carry out the compliance function are changing, and to be effective businesses and professionals need to understand how.
The government is integrating professional services into the FCA’s AML/CTF supervisory framework to improve efficiency and simplify a complex regulatory regime.