Blog

The Commission's recent report urges financial institutions to refine their risk management strategies for Politically Exposed Persons (PEPs). Emphasizing improved documentation and nuanced strategies for domestic and foreign PEPs, it underlines the importance of robust AML and KYC compliance.

In the evolving global financial regulatory landscape, GSIBs' management of unallocated Total Loss-Absorbing Capacity (uTLAC) is gaining prominence. As regulators emphasize transparency and cross-border cooperation, GSIBs need proactive engagement, robust tracking, and effective capital strategies.

In the evolving financial landscape, SMEs and Insurance companies must integrate ESG considerations into their strategies. Rising insurance premiums due to ESG risks underline the need for this shift. Ignoring ESG can lead to higher premiums or coverage denial.

The EU's proposed AI Act and Digital Services Act could significantly reshape AI use in financial institutions. These firms need proactive compliance strategies, robust AI governance, and enhanced risk management to navigate these regulatory changes over the next 2-3 years.

FRC hosts webinars on UK Corporate Governance Code review and new reporting requirements. Topics include internal control, sustainability reporting, and SI details like Resilience Statement. Stakeholder engagement emphasized with roundtables in September.