Fintech promises to revolutionise the financial sector, with efficiency, choice, and financial inclusion on the horizon. However, disruptive growth in finance needs to be supervised and regulated so risks are properly managed. That’s where regulatory sandboxes come in – they allow start-ups to trial innovations under the watchful eye of authorities.
After the 2008 financial crisis, governments around the world took steps to make it easier to resolve failing banks. In the UK, those steps included setting up the Resolvability Assessment Framework (RAF), which launched in 2019.
This week has seen a flurry of new developments in the UK’s sustainability reporting space, taking the country another step closer to the useful, comparable, environmental data investors and regulators need.
With unusual extra pressures stemming from the Covid-19 crisis, the UK’s Financial Conduct Authority has announced a one-year delay to the introduction of mandatory ESEF requirements in the UK.
Ahead of the 2020/21 reporting cycle, the UK’s Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting, revealing the top ten areas the FRC has identified as requiring improvement.
Confine people to their homes; shut the shops; spending goes down; GDP suffers. It may seem like common sense that stronger Covid-19-related restrictions, while essential for public health, would result in a lower GDP, but anecdata isn’t real data.
What do your mortgage, your car, and maybe even your fridge have in common? They are all either already or could soon be reliant on AI and machine-learning (ML) algorithms.
Will the UK forge ahead with the European Single Electronic Format (ESEF) in January 2021, as originally planned? Or will the current consultation result in a delay, giving the country time to get its post-Brexit house in order?
The past few months have demonstrated just how important timely, accurate data is to making the right policy decisions – and how a lack of coherent data can even cause significant damage.
Following the UK Financial Reporting Council’s (FRC’s) recent demands for the big four audit firms to separate audit from other business practices, Deloitte has announced plans to establish an independent Audit Governance Board (AGB).
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