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Banking structural reform to dominate financial services regulation in 2014

03 January 2014

Structural reform to banking will be dominating regulations in the financial services sector in the coming year 2014, according to Deloitte.

The Deloitte Centre for Regulatory Strategy has identified the main regulatory changes that will affect banks, insurers and investment managers this coming year, which includes restructuring the (rest of the) financial system; capital and liquidity; wholesale conduct risk; banking union; operational risk; putting customers first through better conduct and culture; individual accountability; competition; and managing regulatory change in an extraterritorial world.

David Strachan, co-head of the Deloitte Centre for Regulatory Strategy, said: ‘2014 will be a busy year.  Banks will need to implement the new capital and liquidity framework, and the ECB will be intent on establishing a new European supervisory regime. 

‘Closer to home, conduct risk in both the wholesale and retail sector will remain at the top of the agenda. Over-arching this, a multitude of new regulations will require banks to re-engineer their legal entity structure and change the way they operate across borders.’

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