Webinar: FCA Safeguarding Consultation – unpicking the key changes

Date: 6 November 2024

Format: Recorded webinar

Webinar Overview

Date: 6th November 2024

Time: 10:00 am - 11:00 am

Hosted by: John Burns - Cosegic, Max Savoie - Sidley Austin, and Matt Lucas - Bank of London

Join us for an insightful webinar where we’ll dive into the key points of the FCA's recent safeguarding consultation paper and discuss its potential impact. This long-awaited consultation paper was anticipated by many in the payments sector, with expectations building over the past year. References to CASS were broadly expected, however there is so much more to unpick to truly understand what changes are proposed and how they are likely to impact firms.

To help guide you through this, we have assembled an expert panel to bring thoughts and analysis from different perspectives. We will be joined by Max Savoie, Partner at Sidley Austin and Matt Lucas, Compliance, Conduct & Regulatory Affairs Director at the Bank of London, who will bring their extensive knowledge and expertise to this webinar.

The webinar will conclude with a Q&A session, allowing attendees to submit questions for our speakers.

Agenda

What is behind the consultation
Overview of key proposed changes
What is likely to have the most significant operational impact on firms
Areas of uncertainty
Impact on safeguarding providers e.g. insurers, audit firms
What do the new safeguarding requirements mean for banks such as The Bank of London
Timings and next steps
Q&A

Speakers

John Burns - Senior Advisor, Payment Services

John is one of the UK’s foremost compliance experts in payment services, and he is Senior Advisor in our Payment Services Practice.

Assisting Banks, Payment Institutions and E-money Institutions manage their compliance and plan their future commercial strategies in the light of changing regulations, and has unparalleled experience of relevant payments legislation and regulation.

Max Savoie - Partner, Sidley Austin

Max Savoie is a payments lawyer and partner at the international law firm Sidley Austin. He helps firms in the payments sector to navigate legal and regulatory requirements affecting their businesses.

He has advised on numerous cross-border transactions and strategic regulatory projects for many of the leading firms in the sector, including banks, payment systems, issuers, acquirers, processors, money transmitters, and providers of alternative payment methods. Over the last decade he has advised a number of UK and EU payment institutions and electronic money institutions on the application of safeguarding requirements, as well as various other firms on the application of the FCA’s client assets and client money rules.

Max also advises on contentious and regulatory engagement matters. He is a member of the Payments Association’s regulatory working group and is actively involved in discussions between the sector and its regulators. Max is also co-editor of “Payment Services: Law and Practice,” Elgar Financial Law and Practice series (2022).