The year 2024 witnessed significant regulatory developments that have reshaped the financial industry, highlighting the dynamic interplay between regulators, policymakers, and market participants.
Key Regulatory Highlights:
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‘Twin Peaks’ Model: A decade after its implementation, the separation of conduct regulation (Financial Conduct Authority – FCA) and prudential regulation (Prudential Regulation Authority – PRA) continues to influence regulatory approaches and industry compliance.
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Solvency II and Basel III Reforms: Ongoing debates and adjustments to these regulatory frameworks have sparked discussions on balancing stringent oversight with the need for global competitiveness.
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Emerging Sectors: The expansion of regulatory oversight into areas such as cryptocurrency and consumer credit underscores the evolving nature of financial markets and the necessity for adaptive regulatory measures.
These developments underscore the challenges regulators face in maintaining financial stability while fostering innovation and growth within the industry.
