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FCA October and November 2017 Speeches

FCA: 30/10/2017 Speech by Christopher Woolard, (Executive Director of Strategy and Competition at the FCA):  The art of thinking independently together – why the regulator cares about diversity.


Delivered at the LGBT in the Financial Services Industry Summit.

Highlights:

  • True diversity is not tokenistic. It’s about a broad group of people bringing their broad range of experiences to the table.
  • This means better and more rounded judgements, which benefit us all, whoever you are.
  • As a regulator, our social contract rests on our ability to represent and reflect the consumers we are charged with protecting.
  • For firms, a diverse workplace leads to better decision-making, the ultimate safeguard against groupthink.

Read the speech here.

 

FCA: 14/11/2017 Speech by Julia Hoggett, (Director of Market Oversight at the FCA):  Effective compliance with the Market Abuse Regulation – a state of mind.


Delivered at the ‘Recent developments in the Market Abuse Regime’ conference, London

Highlights

  • Effective oversight and compliance cannot and should not stay still.
  • The manner in which the FCA is set up to surveil the markets today is very different from our structure several years ago, and will continue to evolve.
  • Market abuse impacts the smooth operation of our markets by adding cost or reducing returns for participants and ultimately eroding trust in the UK markets.
  • Trust is essential in any society and necessary to ensure markets function well and efficiently.

Read the speech here.

 

FCA: 17/11/2017 Speech by Nausicaa Delfas, (Chief Operating Officer at the FCA): Cyber resilience and supplier risk: moving beyond compliance
 

Delivered at the Cyber Security Summit and Expo 2017, London

Highlights:

  • Cyber resilience is not tick box
  • It should be driven from the top down, with Boards asking probing questions
  • It involves consideration of: people, processes, technology
  • And this applies to managing risks posed by suppliers and partners too – you need to assess them as you do yourselves
  • Key is to continue to work together, share ideas and innovations

Read the speech here.