Risk Management & Operational Resilience Failings - The Prudential Perspective

Introduction

The PRA fined TSB £18,900,000 and TSB was also fined £29,750,000 by the FCA in December 2022 for operational resilience failings.

The PRA also fined MS Amlin Underwriting Limited £9,695,000 in October 2022 for risk management failings.

This webinar will highlight the common themes in these latest PRA enforcement decisions as well as the litigation risks arising for firms finding themselves in these types of situations.

What You Will Learn

This webinar will cover the following:

• An overview of the applicable regulatory standards
• A refresher on the PRA’s enforcement mechanism in contrast to that of the FCA
• Key common themes and differences arising from these decisions
• The litigation and conduct risk arising from risk management failings in a prudential context - litigation, the Financial Ombudsman Service, Redress, and other regulators

This webinar was recorded on 5th July 2023