Following the Rules

Lucy McNulty
  • 5.0 (1)
  • BUSINESS
  • UPDATED WEEKLY
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. NOV 12

    Special episode: Smarsh's Shaun Hurst and Paul Taylor on the mistakes finance bosses are making in their efforts to better track non-financial misconduct within their workforce, and how to avoid them

    Today’s episode is a special one produced in association with Smarsh, a global technology firm providing global financial services companies with the tools to capture, store, and monitor their communications.  Today’s guests discuss how organisations are responding to increasing regulatory pressure to improve their awareness of any non-financial misconduct occurring within their workforce. They outline the major challenges arising from this requirement to monitor for such indicators of toxic culture, and they explain how artificial intelligence tools can best be used to address these issues. Shaun Hurst previously managed technology for Citigroup’s security and investigations teams in Asia-Pacific and Europe, the Middle East and Africa. Since 2022, he has worked as Smarsh’s principal regulatory advisor.     Paul Taylor is a former senior IT executive for UBS’s legal, compliance, risk and internal audit functions. Since 2021, he has worked as the vice president for product management for Smarsh's Enterprise Conduct solution.

    24 min

  2. OCT 29

    Natixis' Britt Johnston and portfolio NED Tina Mavraki on the common mistakes finance bosses make when addressing conduct failings, and how regulators can stop cultural 'window dressing'

    Today’s guests outline where financial institutions are going wrong in their efforts to address their cultural shortcomings. They discuss the practical steps that those managing finance workers can take to meaningfully improve the culture within their organisations and they outline how regulators could best support their efforts. They also explain how such changes, and the cultural improvements deriving from them, can ultimately add value to the businesses embracing them. Britt Johnston’s 30-year career includes 26 years in various senior roles on bank trading floors. In 2020, she took on responsibility for the UK conduct and culture programme at Natixis before being promoted in 2022 to oversee the investment bank’s conduct and culture initiatives in Europe, the Middle East and Africa. Tina Mavraki’s 26-year career includes stints at banking giants Citigroup and Morgan Stanley. Since 2018, she has worked as a portfolio non-executive board director and strategic adviser for several financial institutions and research groups including Cambridge University’s Centre for Climate Engagement.   --- FURTHER READING: Leadership insight: corporate culture | Cambridge University’s Centre for Climate Engagement Five Truths (and a Lie) About Corporate Transformation | BCG Risk Cultures and Banking: Where next? | ACCA Bank climate commitments are not effective - Green Central Banking | ECB report

    35 min

  3. OCT 14

    Former Standard Chartered global surveillance chief Emily Wright on banks' surveillance blind spots and how best to monitor them

    Today’s guest outlines how she expects regulators to push financial institutions to keep better track of their employees’ behaviour. She discusses how finance firms should be modernising their staff surveillance programmes in response to this regulatory focus and explains how those tasked with monitoring finance workers’ behaviour can best encourage their bosses to spend the money required to ensure such changes are successful. She also details what skills those working in financial institutions’ surveillance functions must develop to stay relevant amidst this growing pressure to innovate. And she should know. Because Emily Wright’s 25-year career includes stints overseeing the compliance functions and surveillance programmes in Asia Pacific for financial services giants Standard Chartered, JP Morgan and ICAP. Since 2023, she has advised financial institutions on their compliance and conduct as an independent consultant.

    35 min

  4. SEP 30

    Special episode: Smarsh's Brandon Carl on the technology, regulatory challenges and industry trends shaping the future of communications surveillance

    Today’s episode is a special one produced in association with Smarsh, a global technology firm providing financial services companies with the tools to capture, store, and monitor their communications. Today’s guest discusses how financial institutions are changing their communications surveillance programmes in response to an increasing regulatory focus on this space. He details how generative AI is transforming both communications surveillance technology and the role of the professionals tasked with using such tools. He also outlines how finance bosses and compliance teams can develop best-in-class surveillance processes. Brandon Carl is executive vice president for AI and product strategy at Smarsh.   ---- Podcast notes Smarsh's off-channel e-book: https://www.smarsh.com/off-channel-communications-emerging-best-practices

    42 min

  5. SEP 16

    Conor Sewell, former Treasury advisor now Forefront Advisers director, outlines what City bosses and their regulators should expect under Labour

    Today’s guest discusses how he expects the Labour administration will prioritise a long list of pending financial services reforms inherited from the previous government. He explains how such a reform programme could be interpreted to provide City bosses with the clarity they seek as to how the government will address perceived tensions between its planned pro-growth agenda and its commitments to better protect consumers. And he outlines what upcoming and current pain points regulators and lawmakers must work to address now to avoid the risk of the UK falling behind. Conor Sewell brings a useful perspective to all these topics having worked as an analyst for the Bank of England's Capital Markets Division, and as Senior Policy Advisor for the Treasury’s Financial Services Group. Since 2023, he has advised some of the world’s biggest financial services companies on policy, and politics as a director at political advisory group Forefront Advisers.

    37 min

  6. SEP 2

    PRA CEO Sam Woods on life at the helm of the UK's top finance regulator and his regulatory priorities for 2024 and beyond

    Today’s guest outlines what’s to come in a new package of tougher global capital requirements known as Basel 3.1. He explains how banks can best prepare for the reforms and discusses the prospects of a delay to their implementation in the UK. He outlines how the Prudential Regulation Authority is responding to a new obligation to consider the impact of their activities on the UK’s growth and competitiveness.He also opens up about life at the helm of the UK’s top finance regulator, his thoughts on what he’ll do once his tenure as CEO of the PRA comes to an end, and plenty more in between.Sam Woods’ career began at consulting giant McKinsey, and includes 23 years guiding or advising on various aspects of UK financial services policy and regulation.  Since 2016, he has overseen the UK banking and insurance sectors as head of the PRA and the deputy governor of the Bank of England.   ---- Links of note: Monsters in the deep? − a speech by Jonathan Hall, the Bank of England's external member of the Financial Policy Committee, referenced by Sam Woods around 32 mins into the episode. The 'Carrington Event' − referenced by Sam Woods 40 mins into the episode.

    43 min

  7. JUL 22

    Former FCA CRO Gavin Stewart on the compliance risks that City watchdogs may have missed, and how UK regulation and regulatory operations should be improved

    Today’s guest explains why the UK could be sleepwalking into a new compliance scandal, and he details where such a blow-up might originate. He outlines how he believes financial services regulation could be improved – both by policymakers in government and the regulators themselves. And he details what opportunities for financial services reforms he believes the new Labour government should prioritise in the months ahead. Gavin Stewart’s career includes 13 years at the Bank of England, 10 years at the Financial Conduct Authority’s predecessor the Financial Services Authority and just under four years at the FCA, including a two-year stint as its chief risk officer.  He worked at consulting group Grant Thornton for six years before leaving in early 2023 to write a book.

    37 min

  8. JUL 15

    Special episode: Symphony's Ben Chrnelich maps out the future challenges and trends in communications surveillance

    Today’s episode is a special one produced in association with Symphony, a secure and compliant communications and technology platform built for financial markets & trading teams. Today’s guest details how bosses at some of the world’s largest financial institutions are responding to increasing regulatory pressure to keep track of their employees’ communications across myriad messaging platforms.   He outlines how compliance professionals and their bosses should best navigate the rapid proliferation of AI tools within the financial services sector. And details how he expects communications surveillance compliance to develop in response to the challenges ahead in 2024 and beyond. Ben Chrnelich is president and chief financial officer at Symphony.

    29 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 - 2024
  • Episodes
    72
  • Rating
    Clean
  • Copyright
    © Copyright 2022 All rights reserved.
  • Show Website
    Following the Rules

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