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EMEA Centre for Regulatory Strategy

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Regulatory developments


Thought leadership

About the centre


Regulation continues to pose a major challenge for the financial services industry and its regulators. We are facing a period of unprecedented regulatory change, in terms of the number of new initiatives, their complexity and the interplay between different regulations. Senior management can no longer afford to treat regulation primarily as a matter of compliance: some regulatory developments raise fundamental questions about the economics of the business that go to the heart of the organisation’s strategy.

The EMEA Centre for Regulatory Strategy monitors regulatory developments and provides an expert, objective perspective on opportunities and challenges for clients. It utilises Deloitte’s Risk and Regulation, Strategy Consulting and other relevant areas of expertise to understand, influence and advise on regulatory change, with a particular focus on the strategic business model and aggregate impacts.

Latest commentary and thought leadership

  • Risk and Regulation Monthly – June 2014
    Following the surge in legislation ahead of the European elections, June saw a number of final texts published, including the bank Recovery and Resolution Directive (RRD) and the Markets in Financial Instruments Directive and Regulation (MiFID II/MiFIR). In the UK, house prices and mortgages were in focus, with the Financial Policy Committee given new macroprudential powers.
  • Risk and Regulation Monthly - May 2014
    Key regulatory developments in May included Sir Richard Lambert’s recommendation to create the Banking Standards Review Council; ESMA’s publication of a first set of Level 2 measures for MiFID II; and the results of the FCA’s thematic reviews on clarity of fund charges and conflicts of interest in insurance intermediaries, and its policy on dealing commission for fund managers
  • The Single Supervisory Mechanism – Mind the (capital) gap
    In preparation for the Single Supervisory Mechanism (SSM), all ‘significant’ Eurozone banks are taking part in the European Central Bank’s (ECB) comprehensive assessment, with results to be announced in October 2014.
    The fourth in a series of papers on the SSM produced by the EMEA Centre for Regulatory Strategy, this paper is designed to help banks understand, plan for and manage the capital gap challenge that may arise from the results of the assessment.
  • Structural Reform of EU Banking - Rearranging the pieces
    The largest banks in the EU are faced with a set of structural reforms which would separate their trading activities from their retail deposits. In this paper, we look at the European Commission’s recent proposals, and compare them with existing national versions of ring-fencing. We also look at design and practical challenges for the banks affected by the rules.

Financial Services useful links

Meet the Financial Services team

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The Banking Union

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The Single Supervisory Mechanism (SSM) The Single Supervisory Mechanism (SSM)
The big data issue
MiFID II and the new trading landscape MiFID II and the new trading landscape
Transforming trading and transparency in EU capital markets
Investment Management Regulatory Update Investment Management Regulatory Update
Q1, 2014
The Recovery and Resolution Directive The Recovery and Resolution Directive
Putting theory into practice
OTC Derivatives OTC Derivatives
The new cost of trading

Key contacts

Clifford Smout Clifford Smout
Co-Head, EMEA Centre for Regulatory Strategy
David Strachan David Strachan
Co-Head, EMEA Centre for Regulatory Strategy
Karyn Daud Karyn Daud
Partner, EMEA Centre for Regulatory Strategy


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