Following the 2008 financial crisis, firms allocated considerable resource to meet regulators’ requirements. As well as giving consumers greater protection, a major aim of post-2008 regulation was to make the financial system stable and more robust. Now, with the financial shock caused by Covid-19, panellists will discuss whether they think the regulatory efforts have been effective in mitigating the current crisis.
•Nick Fitzpatrick, Group Editor, Funds Europe & Funds Global (Moderator)
•Pat Lardner, Chief Executive, Irish Funds
•Yvonne Connolly, CEO Ireland, Carne Group
•Philip Dempsey, Country Head Ireland, Sanne Group
•Rachel Turner, EMEA Head of Investment Managers & Insurance, BNY Mellon
Some of the topics covered and questions asked will include:
•How are fund boards and designated persons expected to respond to the
Covid-19 emergency and what can they expect from regulators and
outsourcing partners as Ireland and other relevant jurisdictions operate under
•How can funds and service providers support ongoing regulatory requirements
arising from 2008 as well as additional ones created by the current situation.
•ESMA’s recently recommendations to market participants that covered issues
such as business continuity planning, risk management, and reporting on short
•The requirement for funds with high PRISM ratings to report daily on certain
risks, such as liquidity, valuations and cybersecurity.
•How safe would it be for the funds industry to expect some leniency or flexibility
from regulators at this time, and in what areas?