Responding to regulatory change

The recent implementation of new legislative requirements such as the Capital Requirements Directive (‘CRD’), the Market in Financial Instruments Directive (‘MiFID’) and the Consumer Protection Code has meant that regulated financial services firms have had to dedicate considerable resources to understanding the new requirements and implementing change plans. Impending obligations such as the Third Anti Money Laundering Directive, Solvency II, the Payment Services Directive and UCITS IV will mean that this trend continues.

How PwC can assist you?

In terms of embedding new regulation into your business and adapting the compliance framework in line with this regulation, PwC can provide the following support services:

• Assistance with regulatory interpretation;
• Workshops on regulatory requirements;
• Project management assistance;
• Provision of impact assessments and heat maps;
• Provision of “gap analysis” in terms of current processes and new requirements;
• Assistance with designing migratory plans for taking on new regulatory requirements as they become clear;
• Assistance with the implementation of high level compliance control structures;
• Assessing the robustness and effectiveness of revised frameworks.