Keeping up to date with regulations and legislation is essential for professionals working in the finance field. But with updates frequent from HMRC and other sources, how can you keep pace with it all and make sure you’re complying with the law?
Our top tips:
- Sign up to newsletters from relevant bodies such as law firms, regulatory bodies and professional associations. This will ensure you don’t miss important deadlines, updates and news. Industry professional bodies such as ACCA, ICAEW, ATT and CIOT all have useful guidance.
- Attend seminars, conferences or web training in your field. These are useful to keep up with important changes and to network with peers.
- Share information on new legal requirements with colleagues or your business network – and hopefully they’ll do the same. For example, compliance is a topic that affects everyone, so it’s important to keep on top of this area, particularly in relation to money laundering and financing terrorism.
- Use Google Alerts to monitor financial news on the internet by entering relevant and specific search terms.
Reputable sources for keeping abreast of financial legislation and regulation in the UK include:
- The Bank of England: the UK’s central bank; its news and publications section of the website has the latest releases and you can subscribe to updates, or the RSS feed.
- HM Treasury: the government’s economic and finance ministry. Its guidance and regulation page might be of interest. Again you can get email alerts or sign up to the RSS feed.
- The Financial Conduct Authority: the FCA has news and publications pages that have the latest consultations and policy and guidance.
- Deloitte: has a useful monthly summary of key international, European and UK regulatory developments affecting the financial services sector. You can download the editions or subscribe (free of charge) to receive them via email.
- Thomson Reuters’ Practical Law: has written a useful Banking Regulation guide for the UK, whilst Thomson Reuters’ Insights offers blogs on areas such as regulatory intelligence.
- PwC: PwC’s Financial Services Regulatory Insights provide information on emerging risks, regulatory changes, technical issues and hot topics impacting UK financial services firms.
- Croner-i: has guidance on tax and accounting as well as general employment information
- The Federation of Small Businesses (FSB): their website has a useful blog and helpful guides along with its Legal Hub.
- Norton Rose Fulbright: this global law firm has also written a useful overview of banking regulators and key regulations in its Global Legal Insights publication.
How Artemis Clarke can help
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