Conduct of Business Regulation

Conduct regulation will remain high on the regulatory agenda for 2017.  Across Europe, focus will be on key implementation projects including MIFID II, Market Abuse Regulations (“MAR”) and the regulations on Packaged Retail and Insurance-Based Investment Products (“PRIIPs”).  The focus is now moving to integration and embedding of conduct risk into established prudential risk frameworks however articulating risk appetite for conduct risk still remains challenging.  Institutions are seeking to become more forward-looking and outcomes focussed in the management of conduct risk through improvement of control frameworks and MI to better manage conduct risk in their business.

Deloitte Ireland Risk and Regulatory Consulting team have expertise and extensive experience across all aspects of conduct regulation with access to a wider support network within the Deloitte EMEA Centre for Regulatory Strategy in order to provide an all-encompassing service to support our clients.

Some of the more recent services we have offered in this domain include:

• Development of overall Compliance and Conduct Risk Frameworks including systems of internal control;
• Providing assistance and guidance in the implementation of new/amended regulatory requirements including the establishment of a Compliance Universe.  Some recent projects include: PSD II, MIFID II, GDPR, Fitness & Probity, AML;
• General advisory and support for ongoing compliance with legislation and relevant regulatory requirements including the development of an Upstream Regulatory Risk Framework.  Some recent projects include support to clients in the areas of the: Consumer Protection Code, Code of Conduct on Mortgage Arrears, Consumer Credit Act, SME Code etc.
• Regulatory inspection support (both prior to, during and post the event); and
• Involvement in large-scale regulatory remediation projects with recent local examples including: PPI, Tracker Mortgages, AML, and Credit Card Protection.