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Inspiring Confidence in Financial Services

Advancing thinking and debate

"Inspiring
The Inspiring Confidence in Financial Services campaign debates issues affecting confidence in the financial services sector.




What’s it all about?

The Inspiring Confidence in Financial Services campaign debates issues affecting confidence in the financial services sector.

It develops new insights and ideas by questioning financial services providers, consumers and regulators, how they interact with each other and how the information flows between them.

To find out more about the programme, please read the Inspiring Confidence in Financial Services prospectus.

What we’re thinking about

We are currently working on an issues paper, which will explore the actions the financial services sector must take to build long term confidence. 

The paper titled Market Failures: Market Solutions will form the basis of our forthcoming thought leadership conference in November 2012. 


What we’ve done

The Inspiring confidence in financial services initiative has four themes:

 Exploring the actions the financial services sector must take to build trust.

 Examining the extent to which consumers can be reasonably expected to take responsibility for their financial decisions.

Exploring and identifying the context and conditions for better regulation.

Encouraging open discussion around the needs of different users of financial information.

In order to have stable, efficient markets that support consumer interests and sustain wider economic development, it is necessary to draw together these elements.

Over the time of the programme, ICAEW has issued the following reports:
  


What's new

Solvency II Balance Sheet Review Exercise

ICAEW have worked with the Prudential Regulation Authority to produce an illustrative opinion for step 2 of the Solvency II balance sheet review exercise as well as some potential considerations for step 1 reporting.

Guidance for skilled persons reviews

ICAEW’s guidance to help chartered accountants and other professionals who are asked to report under Section 166 (s166) and Section 166A (s166A) of the Financial Services and Markets Act 2000 (FSMA), as amended by the Financial Services Act 2012 (FS Act).

Assurance: benchmarks and indices

ICAEW’s guidance to assist assurance practitioners engaged to perform work on submission to, or compilation of, benchmarks, indices and independent price reports.

Audit Insights: Banking

The latest report in the Audit Insights series looking at insights from banking audit specialists.

Principles for Good Financial Regulators

The Financial Services Faculty recommends that financial services regulators adopt these principles, recognising that there will be a balance of emphasis between them. Regulators should be clear about the outcomes they are seeking, and against which they should be judged.

Market failures, market solutions

ICAEW’s Financial Services Faculty has published an issues paper which explores the actions the financial services sector must take to build long term confidence.

Better information

Information flows are the lifeblood of the relationships between providers, consumers and regulators.

Better regulation

Regulators must balance the competing public interest and political objective of consumer protection and the macroeconomic needs for financial stability and open, efficient markets. There are sometimes tensions and conflicts between these objectives and it is difficult to properly assess in advance the costs and benefits of new regulation.

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