Top 10 for 2016

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Top 10 for 2016

Our outlook for financial markets regulation

Our Top 10 for 2016, produced by Deloitte’s EMEA Centre for Regulatory Strategy, predicts the key strategic regulatory issues that the financial services industry will face in the coming year. Each topic is accompanied by a view on the sector impacts across retail banking, capital markets, insurance and investment management.

Last year we asked if in 2015 financial services firms would see the authorities shift towards promoting growth and implementing already agreed rules, and away from proposing new ones. As 2015 draws to a close, there is evidence of such a shift, especially within the European Union (EU). However, more generally, it has been post-crisis “business as usual”: daunting implementation challenges in respect of multiple regulations that affect financial services firms’ (particularly banks’) business models and strategies, significant unfinished business, especially in relation to bank capital, and an intensive supervisory and enforcement agenda.

These themes will continue into 2016 and provide the backdrop for our predictions for the coming year.

We expect to see the trend of fewer brand new regulatory initiatives in the UK and elsewhere in the EU continue into 2016. Progress in completing “unfinished business” in the EU will be stately, leaving policy makers with a choice between delayed, or rushed, implementation.

The top ten regulatory issues which we predict for 2016 are set out in the report together with our views on how each will affect the banking, capital markets, insurance and investment management sectors:

  1. Culture
  2. Conduct risk
  3. Competition
  4. Structural reform of the banking sector
  5. Measuring risk exposures
  6. Capital calibration
  7. Data and regulatory reporting
  8. Technology and innovation
  9. Operational resilience
  10.  Market participants adjusting to a new world order.
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