‘Regulatory grid’ for UK financial services published

Businesses operating across the financial services sector have been given an insight into upcoming changes in regulation being considered by multiple UK authorities and should take the opportunity to engage and help shape the changes coming, an expert in financial services regulation has said. Elizabeth Budd of Pinsent Masons was commenting after a new regulatory initiatives grid (80-page / 945KB PDF) was published on Monday.The grid anticipates significant reforms across the different sub-sectors of financial services, impacting banks and insurers, asset managers, payment providers, fintech companies and pension scheme providers, among other firms.Changes to banks’ capital requirements, insurance and payments regulation, sustainability reporting requirements, firms’ duties around cybersecurity and incident reporting and the UK’s funds regime, as well as the open banking framework, are among the initiatives trailed.Budd said: “The grid highlights the ongoing cooperation between differe...