Insight

Regulatory Outlook 2020

Consensus no more?

Our annual assessment from Deloitte’s EMEA Centre for Regulatory Strategy explores trends and specific regulatory themes that will shape the financial services industry in 2020. Our predictions can help leaders anticipate and navigate the regulatory landscape in 2020.

After a decade of global regulatory reforms defined by the financial crisis and misconduct issues, the regulatory environment is now changing profoundly. The international consensus on regulatory reform is fraying. Political appetite for globalisation is retreating, and trade tensions are mounting. Technological change and social concerns, including environmental sustainability, are rising on regulators’ agendas. Financial services firms need to be prepared to respond to these trends. 

Read the full report to learn more or interact with our regulatory timeline tool below.

Read the report

 

What the COVID-19 pandemic means for financial services regulation

The COVID-19 pandemic has caused severe disruption to the global economy, the financial services industry and financial markets worldwide. In this interim updatet o our 2020 Regulatory Outlook, we highlight five major themes that cut across the insurance, capital markets, banking and investment management sectors:

 

First, though some regulatory priorities have changed, it remains full steam ahead on a number of major regulatory initiatives, notably Brexit and IBOR reform.
Second, while still exploring the supervisory tools available to respond to the pandemic as necessary, the near-term supervisory focus is shifting from an immediate crisis response to securing financial resilience in the medium term.
Third, firms and regulators will have to adapt to new operational risks to ensure operational resilience in financial services in the new normal.
Fourth, regulators will continue to focus on achieving good customer outcomes, as temporary customer relief measures come to an end.
Lastly, COVID-19 has underscored the need for the digitisation of financial services to meet demand and save costs.

The pandemic provides a stress test of the financial regulatory system that has been built over the last decade, and the resilience of the current financial regulatory framework, along with industry responses to the changing circumstances, will influence the regulatory framework in the years to come.

Financial Services regulatory timeline tool

The tool provides you with a clear and simple high level view of recent and upcoming milestones for the financial markets initiatives discussed in our Financial Markets Regulatory Outlook 2020. It is an interactive tool designed to provide you with a forward-looking view of key regulatory events.

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Notes:

Users of the Deloitte Regulatory Outlook tool should be aware that it is updated, on a best effort basis, periodically and was last updated on the date shown in the ‘Last updated [date]’ timestamp at the top of this page; regulatory changes subsequent to this date will not be reflected.

The Deloitte Regulatory Outlook tool is not intended to serve as legal advice and is provided for informational purposes only and therefore cannot be relied on to cover specific situations. The use of this tool does not guarantee compliance with any local or international law or regulation. It is not intended to form the basis of any decisions and you should not rely on its content for any purposes whatsoever. Deloitte LLP accepts no duty of care or liability for any loss occasioned to any person acting or refraining from action as a result of using this tool.

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