Editor's message: In the last 15 years, the financial services sector has had to cope with a major regulatory shake-up following the global financial crisis of 2008 and the series of financial scandals that came to light.
The sector has had to grapple with the introduction of the Senior Managers and Certification Regimes (SM&CR), and the loss of passportng rights to and from the UK after Brexit. And July 2023, saw the introduction of the consumer duty rules and guidance for new and existing products or services that are open to sale or renewal, with the duty coming into force for closed products or services on 31 July 2024.
The financial changes will continue at a pace with a new regulatory framework for the approval of financial promotions, the removal of the "bankers' bonus cap", and proposed reform of the SM&CR, to name but a few.
The evolving landscape can be challenging for financial organisations. Our financial services guide will help you as it covers the key aspects of the new regulatory world, including the SM&CR, new rules and requirements, practical implications and future developments.
Fiona Cuming, employment law editor