The Broker Club Forum
The challenges of an increasingly complex regulatory compliance burden - how is it impacting your firm?
UK-EU Regulatory Divergence Part 1: What is it and Why Does it Matter? with BNY Mellon | Pershing
Tuesday 11th October 8 AM, webinar with BNY Mellon | Pershing.
The first installment of the three-part series provided an introduction to BNY Mellon | Pershing as well as their role in navigating regulatory change as a practitioner.
Drawing upon Pershing’s regulatory horizon scan timeline, the webinar discussed the major milestone moments for post-Brexit UK-EU divergence, giving a holistic overview of where the two markets have got to and what was to be expected in the next 6-12 months.
Specific talking points included:
- An overview of the challenges Brexit has conjured up in terms of creating two regulatory frameworks for the financial services sector
- An evaluation of the benefits and drawbacks of no equivalence and the extent to which the UK has capitalised on its newfound freedom to develop a domestic regulatory regime
- An outline of the areas of divergence seen to date (Operational Resilience, CSDR & Prudential Rules) and where the sector can expect regulators to focus their attention next
- A nod to the House of Commons European Scrutiny Committee launching an inquiry into regulating after Brexit to understand where and how the UK should diverge from EU rules (this can be discussed in more detail in webinar 2)