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    The Morning Risk Report: Banks More Anxious About Managing Risk Entering 2018
    (Published December 2017) Citing results from Wolters Kluwer’s annual Regulatory and Risk Management Indicator survey of 608 financial institutions, the Wall Street Journal reports that the majority of bank and credit union respondents are anxious about their ability to keep up with continuing regulatory compliance pressures in 2018.
    Top Bank Risks in 2018
    (Published December 15, 2017) From regulatory uncertainty to workforce management challenges, risks and their impacts are more interconnected than ever before. In this ABA Banking Journal article, Wolters Kluwer experts Will Newcomer and Barbara Boccia weigh in on the top bank risks in 2018.
    Why the Climate is Changing for General Insurance Regulation
    (Published December 4, 2017) Twelve years ago, in the U.K., general insurance firms and brokers found themselves on the receiving end of statutory regulation, which at the time must have felt like a significant shift from the previous regime. However, compared to the wave of regulatory change that has been aimed at the life and pensions sectors in this period, general insurance has had a relatively quiet time of things, and firms have been largely left to get on with running their businesses. However, recent developments suggest that this is all changing, and that the sector is going to be facing some tough challenges ahead. Martyn Oughton reports.
    Leveling the Playing Field
    (Published November 1, 2017) As simple as the concept of Regulatory Change Management is, the challenges often lie in proper execution. Join Wolters Kluwer Compliance Consultant Barbara Boehler as she explores a potential framework for approaching Regulatory Change Management.
    Four years in: Has the U.K. FCA’s early enforcement approach paid off?
    (Published May 16, 2017) In April 2013, the Financial Conduct Authority (FCA) took over from the Financial Services Authority (FSA) as conduct regulator for the U.K. It shares overall regulatory responsibility of the financial services industry with the Prudential Regulation Authority (PRA) under a twin-peaks approach. Now four years down the line are we seeing a reduction in the number and value of financial penalties being issued; and has the FCA’s approach to heavily punish firms and individuals in its early years of regulatory oversight started to pay dividends; or is it just changing tack completely; and is there a solution for continual failure of firms to satisfy FCA ‘Principle for Business 3: management and control’? Mary Stevens takes a closer look.
    Insurers Advised to Take Immediate Action on NY Cybersecurity Regulation
    (Published March 24,2017) On March 1, 2017, New York State Department of Financial Services (DFS) implemented benchmark regulations governing financial institutions and cybersecurity. Based on the serious nature of cyber security breaches that risk consumers’ personal information as well as insurers’ information technology (IT) systems, most financial service entities doing business in New York, including insurance companies, affiliates and third party service providers, must comply with comprehensive new minimum cyber security standards within a tight time frame. Insurers not doing business in New York are also advised to pay close attention to these regulations as they are likely to have a far-reaching impact beyond the state line.
    The Supreme Court does fraud in insurance claims and collides with the Financial Ombudsman Service
    (Published August 9, 2016) Fraud and insurance claims is always an emotive subject at least for insurers. On 20 July, the Supreme Court in Versloot Dredging BV v. HDI Gerling Industrie Versicherung AG concluded that the law was basically the same as the Ombudsman-world has been applying under the guise of being fair and reasonable at least as far back as 2004. Adam Samuel reports.
    The war against insurance fraud is proving difficult to win, so could it be lost?
    (Published July 8, 2016) The recent events surrounding the EU referendum in the UK have revealed one thing in particular, which is just how easy it can be to present a set of facts in different ways – especially when those facts are taken in isolation from the full details of the story. Martyn Oughton takes a closer look.
    The UK APER Principles
    (Published March 29, 2016) On 1 February 2016, the FCA published a string of agreed Final Notices relating to a horrible insurance scandal inspired by one man, but participated in by a number of approved persons. What can loosely be called the Shay Reches scandal has claimed a number of victims.  Adam Samuel Reports.
    Tackling Regulatory Change Management with OneSumX
    (Published March 25, 2016) Tackling regulatory change in your organization? Read this white paper to learn how leveraging the expertise embedded in the products and services from Wolters Kluwer can help you manage the impact of operational change while you build a solid, robust compliance management program.
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