Financial Markets Regulatory Outlook 2024

Are you ready for it?

This annual assessment from Deloitte’s EMEA Centre for Regulatory Strategy explores how major regulatory trends will affect the financial services industry across the UK and the EU in the year ahead, and how leaders can anticipate and respond to them effectively.

The 2024 edition of the Regulatory Outlook sets out our perspective on the most important regulatory and supervisory themes for the year ahead – both for the industry as a whole, and at the sub-sector level.

Sector perspectives

Our view on the most important, challenging or novel regulatory and supervisory issues in the year ahead for different sub-sectors of financial services.

Retail and commercial banking

2024 is a turning point for several regulatory programmes, with implementation complicated by ongoing geopolitical risks, macroeconomic stress and associated pressure on banks’ costs. Banks face significant operational, financial resilience and conduct-related challenges in the year ahead.

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Investment banking

Investment banks face a significant volume of regulatory change in 2024, with FRTB on the way and multiple reforms now close to implementation. At the same time, supervisory scrutiny of counterparty risk management and wholesale conduct will intensify.

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General insurance

UK general insurers will have a busy year ahead, having to navigate the difficult economic environment as well as changing regulation, including the implementation of Solvency UK reforms, the Consumer Duty and new D&I expectations. Across EMEA, managing climate risk exposures also remains a key priority for commercial and retail general insurers.

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Life insurance

The new Solvency UK regime is an opportunity for life insurers - although it comes with strings attached. Insurers taking advantage of the new investment flexibility early on will be able to benefit most from the reform. UK life insurers will also have to deal with closed products under the Consumer Duty, while exploring the impacts of climate-related risk on customer outcomes.

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Investment management and wealth

Consumer Duty, greenwashing risk and fund liquidity will require investment and wealth managers to undergo a step change in their implementation of regulatory expectations. This will have a significant impact on their business strategies.

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Private market investments

While the expansion of private market investments creates significant new opportunities, firms will need to ensure that they have robust processes and controls and that their risk and compliance functions are appropriately resourced as they grow.

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Download the full report

Regulatory Outlook 2024


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David Strachan

Partner, Head of EMEA Centre for Regulatory Strategy

Suchitra Nair

Partner, EMEA Centre for Regulatory Strategy