This issue of the newsletter focuses on the phasing in of the Twin Peaks regulation model, with the aim of highlighting some of the changes or amendments that the new regulatory system will introduce. It provides clarity on the objectives of the Financial Sector Regulation (FSR) Act, which is seen as the foundation of the Twin Peaks model. The model intends to grant the Financial Services Conduct Authority (FSCA) and the Prudential Authority (PA) powers to enforce appropriate regulation.

The newsletter will also analyse the powers of the two peaks and reveal how the FSCA and PA will differ and how they will affect stakeholders.

Finally, this issue explores how the FSCA will look and feel after the changes. The supervision under the FSCA intends to be more judgement-based, aligned to the company’s model and strategy, and lead to early intervention based on assessment of conduct risk, rather than reacting to crystallised issues.

If you have any suggestions for this newsletter, such as topics you feel we need to engage in or investigate, please feel free to contact us.











Understanding the FSR Act

• Objectives of the Financial Sector Regulation Act
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Licencing under Twin Peaks

• How will providers be affected and to what extent? • What are some of the factors that are at play and periods expected?
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Enforcement under Twin Peaks

• When FSB changes to FSCA, its focus will evolve from assessing technical compliance of companies to quantifying major business risks. How will this be done and what are the different criteria or categories by the FSCA? How will the approach be?
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Twin Peaks is now a reality

• How will the providers be affected and to what extent?
• What are some of the factors that are at play and periods expected?
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