News Archive - Page 10 of 16 - REG Technologies

Upholding Integrity: Mitigating Financial Risks Through Supply Chain Data Management

In the financial services sector, where trust and integrity are paramount, the acquisition and management of data within the supply chain play a pivotal role in upholding regulatory compliance and thwarting financial risks like money laundering, terrorist financing, and other forms of financial crime. The importance of meticulous data gathering and oversight from entities in these chains cannot be overstated. Let's delve deeper into the criticality of this data, the challenges it poses, and strategies to navigate this intricate landscape...

REG Reviews – January 2024

Last month, the FCA unveiled an overseas funds regime and measures to improve accuracy of credit files, $420m was pledged to climate ‘loss and damage’ fund at COP28, the digital pound has been cautioned to pose risks to financial stability and the UK insurance sector advocated for relaxed regulations to better attract captive insurance companies.

Beyond Paperless: Why Digitisation Alone Isn’t Enough for Consumer Duty Workflows

A good Consumer Duty workflow captures evidence of customer outcomes as the work happens, across your firm and your distribution chain. A digitised copy of your old manual steps does not do that. It moves the paperwork onto a screen and leaves the evidence problem exactly where it was. That distinction matters more each year. The FCA now wants firms to show outcomes, not describe policies. If your Consumer Duty processes still depend on people chasing, copying and reconciling, going paperless has not fixed them.

Trading Insurance Internationally: Where Regulation Starts and Ends

The absence of standardised global regulations creates a challenge for international insurers that requires them to navigate diverse compliance standards across jurisdictions. This diversity directly impacts day-to-day operations, emphasising the need for meticulous understanding and effective risk mitigation strategies. Regulatory Technology (RegTech) emerges as a crucial ally, offering adaptable frameworks to seamlessly navigate and unify compliance measures, providing insurers with a robust solution for efficient and compliant international insurance trading.

REG Reviews – December 2023

Last month, the FCA urged companies to ensure Consumer Duty reports are a priority, the UK made headway following the publication of the world's first global guidelines for the secure development of AI technology, the UK government pushed regulators to prioritise economic growth and REG hosted its much anticipated Mind Matters panel event, focused on how we can work together to ensure mens mental health at work is supported...

Mind Matters: Panel Event

Panel discussion in support of Movember, addressing the challenges men face regarding mental health at work, how we can break down the barriers and how as employees and colleagues we can work together to foster supportive environments where everyone's mental wellbeing is valued.

Death by Spreadsheet: Are Spreadsheets Killing Your Business?

Compliance tracking software is a system that records every regulatory obligation, check, owner, deadline and piece of evidence in one place, and flags what is due or overdue. It replaces the spreadsheets, shared drives and email chains that most insurance firms still use to track compliance. This post explains where spreadsheet tracking breaks down, what a proper system should do, and how to move across without disrupting your team.

Men’s Mental Health at Work: Breaking the Silence

In a world that often revolves around expectations of strength, resilience, and endurance, we often overlook the hidden crisis that is steadily engulfing the lives of men. Men's mental health issues are a growing epidemic, and it's crucial we shed light on this critical topic, raise awareness and acknowledge the importance of addressing the unique challenges men face regarding their mental wellbeing...

REG Reviews – November 2023

Last month, BIBA introduced a fair value assessment framework, leaseholders have been prioritised under the FCA's buildings insurance reforms, Lloyd's of London warned on climate related losses and humanoid robots are driving workplace efficiency...

Focus on ESG: What is Sustainability Reporting?

Sustainability has emerged as a paramount concern for insurance and financial services companies. Beyond mere corporate responsibility, sustainability now holds the key to mitigating risks and satisfying the ever-heightening expectations of stakeholders. At the heart of this commitment to Environmental, Social, and Governance (ESG) principles lies the practice of sustainability reporting—an essential tool for modern businesses seeking to make their mark in a responsible, ethical, and transparent manner...

Where It All Started: Lloyd’s Reopens To Face To Face Trading, But Where Did It All Begin?

The Lloyd's market is one of the most iconic and influential institutions in the global insurance and reinsurance industry. Its history is a fascinating tale of innovation, resilience, and adaptability over its near 335-year reign. From humble beginnings to now the world’s leading market for specialist insurance, where did it all start?

REG Reviews – October 2023

Last month, the Government announced modernised reforms to insolvency regulation, the Vesttoo scandal underscored the importance of enhanced due diligence among MGAs, asset managers sparked concerns of ‘green hushing’ and AI implementation saw revolutionary transformations to air traffic control and coral reef restoration!

REG knowledge centre

Articles