Following the Rules

Lucy McNulty
  • 5.0 (1)
  • BUSINESS
  • UPDATED BIWEEKLY
Following the Rules

An insider’s guide to the laws dictating life within UK and EU financial services, the people influencing their development and policing finance workers’ compliance

  1. JUL 7

    FMSB CEO Myles McGuinness on his plans to help the City tackle non-financial misconduct, and bolstering the standard setters' future in an increasingly polarised world

    Today’s guest explains why global standards for financial conduct could help counter the risk of rising regulatory fragmentation - providing, as he puts it, “the glue to hold diverging rule books together.” He outlines how a robust governance framework could help financial institutions better tackle toxic workplace behaviour. He explains why he believes a central repository for authenticated data may be key to fighting AI-generated fakes. And he opens up about the Financial Markets Standards Board’s ambitions to expand its global footprint and its membership. Myles McGuinness’s 30-year career includes two decades - and several senior roles - at UK lender NatWest Markets. He spent two years establishing the bank’s capital markets business in Europe as its EMEA head of Financing and Risk Solutions before leaving in 2021 to lead the FMSB as its CEO.

    33 min

  2. JUN 23

    Jillien Flores of the Managed Funds Association on how rulemakers can best rethink overly-onerous regulations for alternative asset managers, and the "misguided" policies they should avoid

    Today’s guest calls on regulators and policymakers to stop seeking to regulate alternative asset managers like they’re banks. She details how policymakers can best rethink the regulatory framework for the non-bank sector to benefit not only alternative asset managers but also the financial sector more broadly. And she explains how a push to harmonise the rulebooks between competing financial hub could also help with a broader push to bolster jurisdictional competitiveness. Jillien Flores is a regulatory affairs specialist whose 17-year career includes seven years at government relations firm Porterfield, Lowenthal, Fettig & Sears where she helped to shape several of the US’s landmark regulatory response to the 2008 financial crisis, including the Dodd-Frank Wall Street Reform  She spent six years advocating on regulatory issues for asset manager Vanguard before leaving in 2021 to join the Managed Funds Association, a trade group representing the world's biggest hedge funds, where she now serves as Chief Advocacy Officer.   --- Short on time? You can read the episode highlights on the FT's Banking, Risk and Regulation

    33 min

  3. JUN 9

    Edwin Schooling Latter, ex-FCA regulator now Mizuho's UK compliance head, on the reforms that could unlock "big savings" and the lessons we missed from recent failures of major financial institutions

    Today’s guest pinpoints the “very technical” but overly complex regulatory requirements underpinning financial markets that he believes regulators could rethink to generate “big savings” for both themselves and the market participants they oversee. He discusses the lessons he would like to see industry players take on board and the changes he believes policymakers should consider in their efforts to prevent a repeat of recent high-profile failures including the collapse of Swiss lender Credit Suisse and family office Archegos. And he should know. Because Edwin Schooling Latter’s career not only includes just over a decade overseeing critical aspects of wholesale market policy and supervision on behalf of the Bank of England and the Financial Conduct Authority but also eight months as Credit Suisse’s primary relationship manager with the Prudential Regulation Authority and the FCA during the bank’s collapse. He spent a year as senior international policy adviser at UBS, following its acquisition of Credit Suisse, before joining Japanese bank Mizuho in late 2024 as its UK head of compliance.  --- Short on time? You can read the episode highlights on the FT's Banking, Risk and Regulation

    41 min

  4. MAY 26

    ESMA chair Verena Ross on her to-do list for 2025, simplifying the EU financial rulebook, and life at the helm of the watchdog

    Today’s guest discusses the European Securities and Markets Authority’s to-do list for 2025, and she explains the regulator’s priorities as it responds to an EU-wide effort to simplify the bloc’s rulebook. She outlines ESMA’s expectations of market participants subject to its landmark reforms on digital operational resilience and crypto-assets and she details how she plans to make sure both regimes are implemented in as effective a way as possible.   She also opens up about life at the helm of the EU watchdog, her strategies for navigating “difficult market periods” and plenty more besides. Verena Ross’s 30-year career includes roles helping to shape various aspects of financial services policy at regulators including the Bank of England and FCA predecessor the Financial Services Authority.  She joined ESMA in 2011 and has been the organisation’s chair since November 2021. **** Short on time? You can read the episode highlights on the FT's Banking, Risk and Regulation

    45 min

  5. MAY 5

    Capstone's Mathew Gilbert on navigating Trump 2.0, and the regulatory changes needed to drive "tangible" growth in the UK and EU

    Today’s guest outlines how he expects financial services regulators in the UK and European Union to react to President Trump’s increasingly erratic policymaking. He details the regulatory changes he believes are needed to ensure the UK government achieves its growth mission and he highlights what Brussels must get right if the EU is serious about remaining globally competitive. He also explains why it is imperative that governments — from London to Washington — pay close attention to the quiet storm building in global bond markets. Mathew Gilbert brings two decades of experience to this conversation, including roles at hedge fund Abaco Asset Management and boutique investment bank KBW. Since 2016, he has led government policy and regulatory strategy firm Capstone’s European operations from London, advising financial institutions’ C-suites, and investors navigating today’s fast-evolving regulatory landscape. Short on time? You can read the episode highlights on the FT's Banking, Risk and Regulation...

    27 min

  6. APR 21

    Governance expert Vera Cherepanova on why ethics and compliance professionals need a more influential voice in the boardroom, and the obstacles standing in their way

    Today’s guest is on a mission to bring ethics and compliance to the top table. She explains why ethics and compliance professionals should be given a seat in the boardroom and what’s stopping them from getting there.  She also discusses how businesses and their compliance executives can best navigate today’s increasingly fragmented regulatory environment, and she shares practical steps boards can take to embrace ESG and DEI principles amidst ongoing backlash without getting caught in the crossfire. Vera Cherepanova has spent two decades working in audit, compliance, and ethics, including roles at global professional services firm EY and as an independent adviser to companies worldwide. Since 2024, she has worked as the executive director of Boards of the Future, a nonprofit working with boards, professionals, and investors in the US, UK, and EU to ensure ethics, compliance, and risk experts have a voice in corporate governance.   Short on time? You can read the episode highlights on the FT's Banking, Risk and Regulation...

    27 min

  7. APR 7

    TP ICAP's Nik Bunney on rethinking surveillance at the world’s largest interdealer broker and what the City needs from the FCA on non-financial misconduct

    Today’s guest explains how the world’s largest interdealer brokers is rethinking its approach to surveillance.  He outlines the benefits of adopting a more behaviourally led methodology to monitor financial services workers’ conduct, which he says provides a more holistic view of workplace culture when run alongside traditional surveillance. He details the common mistakes finance bosses should avoid when seeking to measure workplace conduct and culture. And he discusses what guidance the Financial Conduct Authority must provide the market to ensure its efforts to more closely track City worker’s non-financial misconduct are truly effective. Nik Bunney spent just under 13 years as a broker before moving into compliance monitoring in 2018. He joined broking giant TPICAP in 2023 and since 2024, he has run its targeted surveillance team. He will be explaining exactly what it is that department does in this episode.    Short on time? You can read the episode highlights on the FT's Banking, Risk and Regulation...   ***PODCAST NOTES*** Behavioural risk experts Dr. Wieke Scholten and David Grosse outline where the banking sector and its regulators are going wrong in their approach to managing their cultural concerns ABCD: Finding Happiness through Awareness, Values, Principles, and Actions

    32 min

  8. MAR 25

    Melissa Gallagher, JP Morgan's EMEA head of compliance, on future-proofing the back office amidst technological and regulatory change

    Today’s guest outlines how the compliance function, and those working within it, can best navigate today’s rapidly changing technological and regulatory environment. She discusses the industry's response to increasing regulatory scrutiny around surveillance as well as on bankers’ non-financial misconduct. And she explains why in amongst all the change it is critical that compliance officers do not to lose sight of the “foundational building blocks” of their role.  Melissa Gallagher has spent 30 years working in various compliance roles most recently at large US banks in London. With a background in sales and trading compliance, she has run the compliance and operational risk function in Europe, the Middle East and Africa for US banking giant JP Morgan since 2019.

    36 min
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About

An insider’s guide to the laws dictating life within UK and EU financial services, the people influencing their development and policing finance workers’ compliance

Information

  • Creator
    Lucy McNulty
  • Years Active
    2022 - 2025
  • Episodes
    87
  • Rating
    Clean
  • Copyright
    © Copyright 2025 All rights reserved.
  • Show Website
    Following the Rules

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