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NEWSLETTER: The recent CrowdStrike global IT outages this month provided us with a stark reminder of what can go wrong when operational risks crystallise, making our article on the responsibility of Boards when managing technology-related risks well timed and worth a read. Along the same lines, the benefits of developing and maintaining a robust ‘speak up’ culture cannot be underestimated.
While still early days, the recent change of UK government is already signalling increased regulatory scrutiny in areas such as whistleblowing, but also more positive developments such as the creation of a National Wealth Fund – more details will likely unfold in the weeks and months to come. In the immediate term, the FCA is kicking off a multi-firm review to assess valuation practices within private market investment firms, hinting at the regulator’s direction of travel and potential regulatory adjustments.
Meanwhile, asset managers continue to navigate significant market abuse risks linked to their trading activities. Despite a lack of recent comprehensive reviews by the FCA since 2015, ongoing vigilance and understanding of common risks remain critical for compliance and operational integrity.
Last but not least, we’re thrilled to announce the launch of the 2024 Risky Women Writing Competition in partnership with Risky Women, a network dedicated to amplifying female voices in Governance, Risk, and Compliance. The competition offers a platform for women in GRC to showcase their expertise, be recognised by peers and if that’s not incentive enough, there are cash prizes!
Do let us know if you’ve got any burning questions on these topics, and we hope you enjoy some well-earned sunshine (if the UK weather permits).
Rebecca Thorpe, Global Head of Regulatory Consulting and Aron Brown, Global Head of Regulatory & Compliance
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