The effects of the financial crisis continue to be far reaching – Financial Services organisations, the global markets they operate in and the regulatory bodies that are responsible for policing them have changed dramatically as a result. A tsunami of regulation has resulted and the need to achieve compliance across this global network of complex and intricate requirements has never been more essential – put simply, regulatory compliance is a ‘license to operate’.
In the UK the FSA has given way to a ‘twin peaks’ system, consisting of the FCA and PRA, with the intention of creating a stronger, more forward-looking system for policing UK financial services and commodity / energy trading firms. As a result of these changes and past failings many organisations are under the microscope and are under intense pressure to keep up with the evolving regulatory landscape and the new initiatives that shape it.
Baringa is playing a key role in helping our clients transform their core operations and business strategies to achieve regulatory compliance. With knowledge and expertise of the full breadth of global regulatory reform from Basel III / CRD IV, EMIR, MiFID II, CASS and REMIT in Europe to Dodd-Frank and FATCA in the US we have extensive experience in helping our clients quickly understand the impact of these regulations across the breadth of their operations. This incorporates business strategy, core operational processes and system changes, organisational culture change to mitigate conduct risk and ongoing monitoring and control via internal MI and regulatory reporting.
This expertise is supported by our dedicated research function that underpins our view of the regulatory environment, ensuring our consultants bring the latest perspectives and insights to our clients. This deep understanding, combined with our regulatory change experience, enables us to position our clients on the front-foot to respond to future regulatory compliance requirements. We address regulatory change with an innovative approach that delivers efficient, sustainable and scalable regulatory change and compliance capabilities.