Industries Financial Services
Financial Services thought leadership and articles
Insurance - making digital adoption a reality
The UK hosts the fourth largest insurance market in the world, and the largest in Europe, with a total premium volume of just under $283 billion[1] recorded in 2017.
Interest deductions for foreign banks
08 December 2021 This article delves into the interest deductions for foreign banks operating in the UK, outlining the background of the Capital Attribution Tax Adjustment, the five critical steps involved, and some helpful FAQs.
Autumn Tax Administration and Maintenance Day
30 November 2021 For the second time in the same year, the UK Government has broken with longstanding tradition, where we would have had the UK Budget and tax consultations released simultaneously.
How much UK tax will banks pay on their profits?
Peering into the crystal ball, we wonder - how much corporate tax banks in the UK are going to have to pay after 1 April 2023? On that day, marking the first rate rise since 1974, the corporation tax rate goes up, from its current rate of 19% to the new rate of 25%.
FCA guidance on treatment of vulnerable customers
The FCA wants more resources devoted to empowering customers, preventing harm and safeguarding rather than dealing with redress and remediation later down the line, and has updated their guidance by issuing four pillars to help firms with vulnerable customers.
Civil Liability Act - FCA reporting
Certain insurers will be subject to additional reporting to the Financial Conduct Authority (FCA) from 2023. Whilst the first reporting date seems far away, the return must cover data from 2020 onwards, meaning that firms need to prepare to make sure they can provide accurate data in the right format.
Mazars' Insurance Broker M&A Outlook 2021
The UK Insurance Broking M&A outlook for 2021 is fascinating, especially following the obvious challenges of 2020.
Safeguarding quality of risk and regulatory data
High quality data is critical in supporting decision making, reporting and risk management activities, and even more key for getting the most out of advanced analytics and predictive modelling.
FCA Brexit webinar - November 2020
With six weeks to go before the end of the EU exit transition period, the FCA set out what firms need to be aware of in preparation for 1 January 2021. Discussions were against the backdrop of the ongoing EU Exit negotiations where the outcome is uncertain, and thus any agreements may not mitigate the risks that firms are facing, and the question of equivalence.
Risk and Regulatory Data - Impact of Covid-19
With the current Covid-19 pandemic and its widespread effects, banks must rely more than ever on data driven insights to monitor their changing risk profile, support quick decision making and respond to impacts on their customers and operating models.
How ESG is reshaping global financial Services
The time has come to take the business of sustainability seriously. Governments and businesses can no longer afford to focus on short-term gains to the detriment of longer-term sustainability.
Tackling climate change: the Role of Bank
Mazars and the Official Monetary and Financial Institutions Forum (OMFIF) are proud to have come together to produce a global report providing unique insight on current and upcoming financial regulatory evolutions aimed at tackling climate change.
With Environmental, Social and Governance factors, and responsible banking practices more broadly becoming an essential focus for the banking industry, Mazars has assessed how banks are embedding sustainability into their commercial practices.
Banks' response to climate change risks
With sustainable finance expecting to be a crucial factor in the economic recovery in response to Covid-19 and regulators still encouraging banks to actively embed climate-related risks in their business operations and risk management frameworks, Mazars has analysed how 30 of the largest banks worldwide have been handling climate-related financial risks.
Brexit Watch #4: How regulators are reacting
Brexit preparation is one of the largest undertakings that regulators and market participants have ever done, considering the uncertainty and the impact it carries.
Brexit Watch #5: Brexit extension
During a meeting of the Special European Council on the 10 April 2019, EU leaders agreed to a flexible Brexit extension until 31 October 2019, to allow for the ratification of a withdrawal agreement.
Updated EU anti-money laundering framework
What are the changes and what can you do to ensure your firm is compliant?
Following a survey of over 150 insurance brokers across the UK, our Insurance M&A experts report on the sentiment of the market and look ahead to 2019.
Climate change and banking
One day ahead of the UN Climate Action Summit in New York, 22 September 2019 – The United Nations launched the Principles for Responsible Banking with the sign up of 130 international banks, collectively holding more than USD 47 trillion in assets.
Climate change - The BoEs commitments
In 2018, the Bank of England (the "BoE") set up a project called "Future of Finance" aimed at anticipating the upcoming changes in financial services for the next decade, and the impact of these changes for market participants, customers and regulators.
Future-proofing financial services report
Effective leadership is the critical success factor for financial services companies facing regulatory and societal change. Read our special report to find out how it will affect your company.
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