Compliance 2022 – The future of UK regulation

For many years now, regulation has been the main concern of the UK wealth industry, causing multiple headaches across the sector and one of the key reasons behind surging costs among these firms.

In September 2021, the FCA issued a ‘Dear CEO’ letter, which outlines the new areas of focus from the regulator. These will therefore each form a basis of discussion within the webinar and include:

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Event Information

11:00 – 11:05           James Brown, Compeer – “Welcome & Introduction”

11:05 – 11:20           Therese Chambers, FCA – “What the Regulator Expects from Wealth Management Firms Going Forwards”

11:20 – 11:30           Tom Thwaites, Compeer 

11:30 – 12:00           Wealth Management Panel Discussion

Penny Rooney (Killik), Duncan Taylor (Canaccord Genuity), Louise Stanway (Ruffer)

James Brown, Head of Client Services – Compeer

James joined Compeer in October 2006 as an analyst following his graduation from The University of Warwick, where he studied Mathematics, Operational Research, Statistics and Economics.  Today he manages Compeer’s team of analysts. He has widely presented key trends in the UK Wealth Management Industry, with in-depth experience of providing statistical analysis of firms’ business performance. He regularly provides recommendations during presentations to Executive boards, and is actively involved in bespoke research projects.

Tom Thwaites, Senior Research Analyst – Compeer

Tom joined Compeer in January 2019 having graduated from the University of Leicester with a BSc in Financial Economics. During his time at university Tom attended Katholieke Universiteit Leuven in Belgium as part of the Erasmus program where he furthered his studies into economics, finance, business management and econometrics. He also gained work experience in Beijing on a summer internship for a Chinese consulting firm which specialises on the Belt and Road initiative.

Now, as a member of the Compeer analyst team Tom works on a variety of bespoke research projects looking into different aspects of the Wealth Management industry, presenting the findings at Compeer conferences as well as supporting the team with the annual industry report and benchmarking services.

Therese Chambers, Director of Consumer Investments – FCA

Therese Chambers began her career in private practice in the City as a commercial litigator. She has spent 20 years in UK regulatory enforcement at the FCA and FSA, running investigations and conducting litigation in relation to some of the most high profile, complex and challenging regulatory enforcement cases. She is an acknowledged expert on UK financial services regulation and her experience and expertise covers the full range of the FCA’s jurisdiction. Most recently, she was Director of Retail Investigations, responsible for the FCA’s retail investigations portfolio, which includes anti-money laundering, pension scam and misselling investigations. Since January 2022 Therese has been the Director of Consumer Investments, responsible for leading the FCA’s work to protect consumers from the harm caused by scams, poor investments and unsuitable investment advice. Therese is also responsible for the delivery of the FCA’s Consumer Investments Strategy.

Louise Stanway, Head of Compliance and Partner – Ruffer LLP

Louise joined Ruffer in 1999 after graduating with an honours degree in accountancy and law and became Ruffer’s Compliance Officer in 2007. During 2004, she spent seven months seconded to the Personal Investment Management and Financial Advice Association (PIMFA). Louise has been a Director of the Joint Money Laundering Steering Group since 2004 and was appointed as its Chairman on 1 July 2016. She has also chaired the PIMFA Financial Crime Committee since 2007.

Duncan Taylor, Head of UK Wealth Management Compliance – Canaccord Genuity Wealth Management

Previously Group Head of Compliance for Charles Stanley. Prior to that, he was Head of Compliance for Quilter Cheviot and helped guide the firm through a number of corporate transactions in his time there. He is a qualified member of the Chartered Governance Institute UK & Ireland, and fellow of the Chartered Institute for Securities & Investment.

Penny Rooney, Head of Compliance – Killik & Co

Penny Rooney has been the Head of Compliance at Killik & Co since 2009, becoming a Partner and joining the Board in 2014.  With over 20 years’ compliance experience, including as a regulatory and compliance consultant at KPMG, her career has been built upon responding to regulatory change and preparing businesses for the challenges it represents.  In 2020, she became Chief Risk Officer with responsibility for embedding a risk framework across the organisation, whilst continuing to oversee Compliance. She is an active member of the PIMFA Regulatory Committee and regular attendee at wealth management peer group forums.

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