Financial services regulation is ongoing assurance
An interesting article from QA Financial today highlights a significant shift in financial services regulation; away from periodic, point-in-time checks and towards ongoing assurance.
As the article puts it:
“continuous validation, continuous monitoring, continuous resilience testing and continuous assurance.”
The article is primarily about software testing and operational resilience, but the principle has much wider relevance.
At Watchdog Services, we are developing software that applies a similar continuous-monitoring approach to FCA-regulated firms. By combining FCA and Companies House data, we aim to identify significant changes and emerging risk indicators as they occur, helping firms move beyond periodic reviews towards more proactive oversight.
It is an interesting example of how regulation, data and technology are increasingly converging around the same idea: monitor continuously, identify change early and act before problems become serious.
Watchdog Services: watchdogservices.co.uk