Financial services regulatory outlooks 2019
Leading in the times of change
The Deloitte Center for Regulatory Strategy has released a series of 2019 financial services regulatory outlooks to help financial services firms across the globe navigate the year ahead.
- Asia Pacific regulatory outlook
- Canada regulatory outlook
- EMEA regulatory outlook
- Latin America and Caribbean regulatory outlook
- US regulatory outlook
Nearly ten years after the financial crisis, the long shadow it has cast has started to fade. With the exception of the final stages of Basel III, most post-crisis prudential policies have now been decided, and banks in particular are now much better capitalized and more liquid than before the crisis. Amid varied approaches and timetables to national implementation of agreed prudential reforms, attention is now more acutely focused on culture and governance, the challenges of new technology, and emerging economic, market and operational risks. Firms need to be prepared to respond to this shifting focus and the new demands that it will place on them.
The Deloitte Center for Regulatory Strategy outlooks are designed to provide a clear view of the regulatory landscape and of the actions firms should be taking to respond to regulation. The regulatory outlooks available are:
Asia Pacific financial services regulatory outlook
Asia-Pacific continues to be a dynamic growth region, marked by world-leading innovation in financial services, continued strong GDP growth, and rapidly increasing financial inclusion. In our 2019 Outlook we expect regulators in the region to continue their 2018 trajectory of embedding global post-crisis reforms, ensuring sound risk governance and culture, and adapting to innovative technology while managing emerging risks. Each of these areas brings its own set of policy objectives and challenges, and while in some cases the path is more certain, in other areas approaches and frameworks are still evolving. The Asia-Pacific Outlook is a guide to navigating these different trends across the region.
Canadian financial services regulatory outlook
For financial institutions in Canada, this overview offers key information and insights on some of the most critical regulatory topics for 2019, examining how trends such as innovation, automation, and analytics are becoming increasingly imperative when addressing regulatory priorities and competitive demands.
EMEA financial markets regulatory outlook
The 2019 EMEA Financial Markets Regulatory Outlook covers a mixture of cross-sector and sector-specific issues of strategic significance for all financial services firms operating in EMEA in 2019, from the challenges of Brexit and the increasing importance of climate change, through to LIBOR reform, cyber security, and much more.
Latin America and Caribbean financial services regulatory outlook
Regulators, supervisors, and financial institutions within Latin America and the Caribbean continue to react, adapt, and strategize for the increasingly complex local, regional, and global regulatory environment. This Latin America and Caribbean regulatory outlook offers key information and insights on some of the most critical regional regulatory topics for 2019, including the expansion of cyber-risks and cyber-attacks; local and regional responses to data protection regulations; evolution of financial crimes regulation; emergence of the fintech community and subsequent regulatory responses; regional impact of Basel III implementation; risk-based supervision approaches; regulatory shift and response for risk culture; organizational and regulatory reponses to market conduct, consumer protection, reputation.
United States financial services regulatory outlooks
With the 2018 mid-term elections behind us, we expect that the Democratically controlled House Financial Services Committee will broadly focus its legislative agenda toward protecting consumers and investors, preserving financial sector stability, and encouraging responsible innovation in financial technology. Meanwhile, we expect that the Republican controlled Senate will stay the course, focusing its legislative agenda on remaining refinements not already addressed in the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) passed in 2018. Beyond the divided Congress, we note that the regulatory agencies are now all led by President Trump appointees who have discretion, subject to Congressional oversight, to calibrate their supervisory policies and programs.
Regardless of what definitive changes lawmakers and regulators might make, financial services organizations should continue to drive effectiveness and efficiencies across their risk and compliance programs so they can meet applicable laws, regulations, and supervisory expectations.
View the 2019 outlooks for:
With increased regulatory expectations and emergent technologies, the future of risk management will look dramatically different than the current risk capabilities many are familiar with.