Catch-up | Osborne Clarke’s 2022 Future of Financial Services Week recordings
7 days, 19 sessions, 37 specialist speakers covering some of the hottest topics in the Financial Services sector.
Catch-up on the sessions you missed and refresh your memory on your favourite ones during the week. Find below a range of webinars covering topics including the FCA’s new consumer duty, the growth of decentralised finance, How to be a successful VC and challenges when faced with significant business interruption and/or financial difficulties – particularly lessons learned from Wirecard.
Wednesday 26 January
2022 and Beyond – Introduction to Osborne Clarke’s Future of Financial Services Week – Themes and Predictions for the Financial Services Industry
In this session Mark Wesker and Nikki Worden will give a bird’s eye view of the challenges and opportunities within the financial services industry in 2022 and beyond, including our predictions for the next 12 months!
Watch the recording here > | Slides >
Stronger Regulation – the FCA’s new consumer duty
The FCA describes its new Consumer Duty as requiring a complete step change in how firms design, market and operate their services, putting the customer at the heart of every aspect of their business models. In this session, we will drill down into the FCA’s proposals, looking at the key elements and challenges, before asking both what this means for individual firms and the implications for the UK as a global financial centre.
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Expanding into Europe
Our panel of expert OC partners from across Europe will discuss their top tips on how financial services business can expand into Europe.
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The Future of ESG in Financial Services
In this panel session we will focus on the changes to the financial services industry resulting from an increased focus on ESG – and changes still to come.
Thursday 27 January
How to be a successful VC
At our How to be a successful VC event, we welcome Mark Sims of the British Business Bank to talk about the Enterprise Capital Fund programme and how VCs can increase their chances of securing ECF funding; and Daniel Roddick of Ely Place, who will talk to participants about raising money from institutional investors. We will also give participants access to our pre-recorded panel sessions, where well-known LPs and GPs in the space (such as BAE Systems, Highland Europe and Notion Capital) will talk about raising Fund II, III and beyond; and chat with portfolio company founders on what makes a good VC from the company point of view.
Watch the recording here > | Slides >
Watch panel discussions on How to be a great investor here > and Moving forwards – Fund II, III and beyond here >
The future of M&A and fundraising in the financial services sector – panel session including industry experts
In this panel session a number of industry experts will discuss the themes and trends they see in relation to M&A and fundraising in the financial services industry – which areas will be hot for investment, where will consolidation be a feature, where has M&A peaked and much more.
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Stronger regulation – lessons learned from Wirecard
Financial services businesses face particular challenges when faced with significant business interruption and/or financial difficulties. We explore these, as well as what financial institutions should have in place concerning contingency planning, and steps they should be taking to deal with a worst case scenario and minimise potential business risk in the future.
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Friday 28 January
Spotlight: The Future of work in Financial Services
This session will look at how the decarbonisation transition will impact employers, many of whom have made public net zero commitments and what employers need to do to adapt and develop their workforce so they have the right skills for the green economy.
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Pushing the perimeter – Are cryptocurrencies going mainstream?
We’ll discuss innovations in cryptocurrency markets both in the UK and abroad against the backdrop of UK regulation, and consider whether there is the potential for more traditional investors (e.g. pension funds) to enter this space.
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Changing the game: the DeFi challenge
We will look at the growth of decentralised finance and discuss the challenges that it poses from both the market and legal/regulatory perspectives, particularly around enforcement.
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Monday 31 January
Pushing the perimeter – Buy Now Pay Later and SME Finance
We will look at how bringing BNPL into the perimeter may affect the consumer lending market and, in the context of SME finance, the questions being asked in the wake of Greensill’s collapse.
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Spotlight: The Future of Advice and Artificial Intelligence in Financial Services | Postponed
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Tuesday 1 February
Spotlight: The Future of IT procurement in Financial Services
The dependency on IT in financial services only continues to increase. For many organisations in the sector, their products and services, and the channels through which they are provided to customers, are intrinsically bound up with technology. As a result, the effective procurement and deployment of new IT is now mission critical for many organisations. At the same time financial services regulators are taking an ever increasing interest in how businesses are sourcing and using technology. We will look at the current landscape (including aspects such as cloud, agile, open source and outsourcing) , assess key considerations and discuss the regulatory perspective and its practical implications in this area.
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Cybersecurity: how we see Cyber risk developing for Financial Services in the next 5 years
Cybersecurity incidents can cripple even the largest of companies, given the potential for severe disruption to business, regulatory enforcement action, legal claims, and ensuing reputational damage. This session will explore the particular cyber risks for the Financial Services sector, how these are likely to evolve over the next 5 years, and what companies can do to mitigate those risks.
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Pushing the perimeter – Retailers and retail platforms: payments tips for the uninitiated
Unregulated firms launching platforms may inadvertently brush up against the perimeter of financial services regulation. We’ll take a look at some of the issues that unregulated firms need to tackle pre-launch, as well as the key factors retailers should consider when designing their online checkout functionality.
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Wednesday 2 February
Stronger regulation – operational resilience
With increased digitalisation, the IT and operational systems of financial institutions are ever more important and failures increasingly impact customers. We explore the regulatory response and approach financial services businesses should take.
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Diversity & inclusion in the financial services sector: From CSR to compliance
The FCA, PRA and Bank of England have ambitious and eye-catching plans to use regulation to drive progress on D&I in financial institutions, describing it as a critical aspect of firms’ culture and important to product design and customer service. While the media fixated on proposals to make the language of regulatory rules more inclusive (such as ending the use of the phrase “Chinese walls” in the rulebook), the discussion has been wide-ranging, thoughtful and, in places, radical. With many firms having made significant strides in this field, this panel session will look at the merits of the regulators’ proposals, share firms’ experience of best practice, and discuss the challenges that remain.
Watch the recording here > | Slides >
Thursday 3 February
FinTech GC Community round table
The latest of our regular series of round table events for general counsel and senior legal officers of FinTechs.
The Future of Open Banking and Open Finance
The session will begin with a look at Open Banking. We will be discussing the legal and regulatory framework for Open Banking, its use cases for financial services firms and some of the legal issues and challenges we see for providers and recipients of these services.
The session will then look ahead to Open Finance – the idea of applying Open Banking principles to share customer data on other financial products, including the proposal for a ‘Pensions Dashboard’. We will take a look at where the market and regulators are at in adopting Open Finance standards, and what still needs to happen for it to become mainstream. More generally, we will be looking at the opportunities and challenges arising from Open Finance, and any lessons that can be learnt from Open Banking