Mon, Nov 5, 2018

Monique Melis Published in Compliance Matters: Taking Stock of Regulation in the UK

Monique Melis, Managing Director and Global Head of Regulatory Consulting at Duff & Phelps, wrote an article for Compliance Matters titled "Taking Stock of Regulation in the UK," which discusses the regulatory landscape in the United Kingdom.

"Following a spate of recent regulatory developments including Markets in Financial Instruments Directive (Mifid) II, implementation of the International Financial Reporting Standard (IFRS) and Senior Managers and Certification Regime (SMCR), we now operate in a landscape where firms need to do a lot more to remain compliant. It is clear that the financial services industry is more complex, more fractured and more complicated than ever before, but this also raises the question: should policy makers take a step back from time to time and question whether current regulation is still fit for purpose? Or should we look at some sort of deregulation? In the UK, we live and like a principals-based regime, which has enabled us to be more transparent. However, with firms under greater pressure to demonstrate compliance than ever before, does it make sense to have all of this regulation? Or should regulators look to use the tools they already have, rather than overlaying more prescription?"

The full article is available for subscribers on the Compliance Matters website.