Afleveringen
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Today’s guest outlines why she believes the government’s efforts to boost the UK’s economic growth are more likely to succeed if they include a fundamental shift in how the City talks about its capital markets and a rethink of how the City’s regulators are incentivised to support the growth mission. She also discusses the remaining regulatory steps needed to encourage more retail and domestic participation in London’s capital markets, and ultimately give the UK’s equity capital markets a long-anticipated boost.
Julia Hoggett’s career includes several senior roles at some of the world’s largest banks, and a seven-year stint at the Financial Conduct Authority. Since 2021, she has run the London Stock Exchange as its CEO.
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Today’s episode is a special one produced in association with Smarsh, a global technology firm providing financial services companies of all sizes around the world with the tools to capture, store, and monitor their communications.
Today’s guests discuss the regulatory priorities they believe will have the greatest influence on financial institutions’ communications surveillance programmes in 2025 and beyond. They detail the common mistakes finance bosses must avoid when seeking to respond to these increasing regulatory demands.
And they outline how the vast volumes of communications data currently being gathered by financial institutions for compliance purposes can also be used strategically to help these same institutions grow their businesses.
Kim Crawford Goodman is CEO of Smarsh. Ryan Kahan is co-founder and CEO of CallCabinet, a technology firm recently acquired by Smarsh, which captures voice and video communications data.
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Zijn er afleveringen die ontbreken?
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Today’s guest discusses the Financial Conduct Authority’s to-do list for 2025 and outlines what City firms should and should not expect from the regulator as it seeks to prioritise growth and competitiveness in the coming months.He details the challenges commensurate with this new approach that he would like lawmakers to be more aware of. He also opens up about life at the helm of the City watchdog, his strategies for copying with the “intense public scrutiny” that has dominated his tenure as CEO of the FCA, and plenty more in between.
Nikhil Rathi’s 23-year career includes several senior roles within previous Labour, Conservative and coalition governments’ Treasury departments and just under five years as chief executive of the London Stock Exchange plc.
Since 2020, he has overseen regulation of the UK financial services sector as CEO of the FCA.
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Today’s guest calls on the government and City regulators to agree a “common vision” with the investment management industry to better enable those working in the sector to generate long-term growth in the UK.
He details the areas where he believes the Financial Conduct Authority “still needs to demonstrate that they have completely understood” the government’s drive to make the UK a more attractive investment destination.
He also explains why he supports calls to get rid of what he sees as unnecessary red tape introduced under the Senior Managers and Certification regime, and plenty more besides.
Chris Cummings’ career spans four decades and includes several senior posts in the industry, as well as within global consulting firms. He was the founding chief executive of lobby group TheCityUK from 2010 until 2016 when he became CEO of the Investment Association, the trade body for UK-based investment managers.
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Today’s guests explain where they believe banks and their regulators are going wrong in their efforts to “fix” the sector’s cultural issues.
They detail how lawmakers, financial bosses and their supervisors can best ensure that ongoing and increasing efforts to loosen rules governing behaviour in the industry don’t lead to a repeat of previous banking crises.
And they outline why they believe it is critical that the industry and all its stakeholders take steps now to better understand “the complex behavioural landscape” in which they operate.
Dr. Wieke Scholten is a social and organisational psychologist with a particular focus on the financial services sector. Her 21-year career includes five years as a senior supervisor of behaviour and culture at the Dutch prudential regulator DNB and two years as head of behavioural risk at NatWest.
David Grosse’s 30-year career, meanwhile, includes several senior audit, risk and COO positions at various banking giants including Barclays and HSBC. In 2017, he formed a behavioural risk team within HSBC Global Banking and Markets, which he then ran until leaving the bank in 2022 to work as an independent consultant advising organisations on conduct, culture and behavioural risk.
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Today’s guest discusses how finance executives and their regulators can best support the government’s efforts to drive growth and competitiveness in the UK’s financial services sector.
With that in mind, he outlines why he believes it is important to debate whether the Financial Conduct Authority has taken the right approach in its recent efforts to better protect UK consumers.
And he calls out tech giant Meta for “not doing enough” to stem the volume of fraud taking place on its platforms.
David Postings’ 40-year career in financial services includes several senior roles at some of the UK’s largest banks including Barclays and Lloyds Bank. In 2021, he was appointed chief executive of UK Finance, the voice of the UK’s banking and finance industry.
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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.
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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.
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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
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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.
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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.
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Podcast notes
Smarsh's off-channel e-book: https://www.smarsh.com/off-channel-communications-emerging-best-practices
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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.
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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.
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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.
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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.
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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.
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With just days to go until the UK goes to the polls, today’s guest outlines what City executives can expect from a Labour administration. He discusses how he expects the relationship between the new government and finance watchdogs to develop and why regulators may well see a new secondary objective land on their plate.
He also details how he believes relations between the UK and the European Union will change following elections in the bloc, and will change following elections in the bloc, in ways that could ultimately be beneficial to the financial services sector.
Sander Schol’s 20-year career includes stints helping to decipher policymakers and governments’ approach to financial services for bosses at some of Europe’s largest financial institutions, including JP Morgan and BGC Partners. Since 2021, he has advised businesses on policy relating to financial and digital services as head of European public affairs at political consultancy Hanbury Strategy.
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Today’s guest calls on politicians on both sides of the UK’s political spectrum to reconsider their ambivalence towards the City and to do more to promote its achievements in the run up to next month’s election and beyond.
He outlines where fund managers and regulators may want to rethink their approach to investments within the environmental, social and governance space.
He also explains how finance workers can best navigate upcoming and increasing geopolitical volatility, and plenty more in between.
Saker Nusseibeh is Chief Executive of the London arm of Federated Hermes, a US investment manager with $778bn in assets under management. In 2020, he was named a Commander of the Order of the British Empire in the Queen’s New Year’s Honours list for services to Responsible Business and Finance.
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Today’s episode is a recording of a recent panel discussion at the annual conference for the Quoted Companies Alliance, which is an organisation that campaigns for the UK’s community of small and midsized publicly traded businesses and the firms that advise them.
I was invited to moderate a panel on what more our regulators can do to support capital markets for companies of all sizes and we discussed where regulators and policymakers have hit the right mark in their efforts to bolster London’s capital markets, where they have missed opportunities, how market participants themselves need to step up to support their efforts and plenty more in between.
I hope you enjoy it.
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Today’s episode is a little different to normal. It is a recording of a recent panel discussion from City Week’s AI in Financial Services Leaders Summit which took place in London last week.
I was invited to moderate a panel on the transformative potential of generative AI and we discussed interesting use cases for genAI in the financial services space, how boards and senior managers can best manage the risks relating to the new technology, how regulators could help market participants embrace the opportunities presented by GenAI responsibly and plenty more in between.
I hope you enjoy it.
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Today’s guest outlines how he is shaping the Financial Reporting Council into a “more strategic” organisation focused on proportionate oversight of auditors, accountants and actuaries.
He explains what support he needs from lawmakers and industry as he navigates that task, alongside setting standards and codes in the public interest, and discusses the FRC’s changing regulatory priorities more broadly in the face of shifting political and market dynamics.
Richard Moriarty’s career spans three decades and includes stints as CEO of the UK’s Civil Aviation Authority and as partner at political risk consulting firm Flint Global. In October 2023, he took over as CEO of the Financial Reporting Council.
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Today’s episode has been produced in partnership with City Week, an annual agenda-setting international financial services forum which brings together more than 1,000 senior decision-makers from UK and overseas financial institutions for a comprehensive programme of cutting-edge presentations, panel discussions, social events and networking.
Today’s guest will be speaking at City Week on the growth prospects for sustainable finance and investment post-COP28. And it is in that context that she spoke with Following the Rules about how lawmakers and financial services executives can best support the global transition to a net zero economy. She also offers her views on how UK policymakers could encourage more companies to list in London.
She outlines how she believes the investment management industry should approach international investment decisions over the long term and navigate upcoming and increasing geopolitical tension and political uncertainty globally.
And she offers advice on how to get comfortable being “the only woman in the room” in a male-dominated industry.
And she should know. Because over the course of a 23-year career, Sonja Laud has held several senior roles within the asset management industry including a stint as head of equity at Fidelity International. Since 2019, she has worked as Chief Investment Officer at Legal & General Investment Management.
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