Enterprise risks, audit issues, and incidents all use the same risk taxonomy and risk rating system and therefore data can be analysed consistently across these information capture systems. Automation extends to data visualisation of these relationships and this assists in identifying emerging trends and matters for further investigation. Incident management is a key part of our ERM framework.
This path will not be easy for either side as the lure of the flexible and light-touch regulation of the past can be strong, bringing with it the risk of divergence between EU and UK rules or a potential race to the bottom. And these considerations will also play out as we review the role of equivalence regimes in EU financial legislation.