BPF Spotlight Series - Regulatory Committee

💡For our latest BPF Spotlight, we caught up with Assistant Director Rachel Kelly to talk about our Regulatory Committee. Over to you, Rachel:

❓So, what’s the main focus of the BPF Regulatory Committee?

🗣️Essentially, we’re all about keeping on top of financial regulations that impact the property sector. It’s a fast-moving space, so we ensure our members are up to date and understand the practical implications. Plus, we offer a platform to connect with peers, contribute to Government consultations and engage with regulators when needed.

❓Who’s involved in the committee, and who are the key players you work with?

🗣️We’ve got heads of legal, risk and compliance leads, company secretaries and money laundering reporting officers. External legal experts also support us. Our main stakeholders within Government include HMRC and HM Treasury, and occasionally MHCLG. Our regulator in the UK is the Financial Conduct Authority (FCA). 

❓What’s keeping the committee busy?

🗣️We consider relevant regulations developed by the FCA and equivalent regulators in Europe, and we regularly focus on anti-money laundering (AML) regulations. This year, we responded to Government consultations on the transparency of land involving trusts and the effectiveness of anti-money laundering regulations. During committee meetings, we’ve considered the impact of a number of regulations, including a new UK Consumer Composite Investments Regime, the EU’s Sustainability Financial Disclosure Regulations (SFDR), the EU AI Act and many more!

❓Who should consider joining?

🗣️If you’re into this space and responsible for risk, compliance, or AML in your organisation, you’d fit right in. We’re on the lookout for enthusiastic members who want to contribute to strategic discussions and help shape policy in this area. Applications are open via our Open Call until 14 December 2024. Don’t miss it!

About Rachel:

Rachel is a chartered accountant by background and worked at PwC in the funds tax team before joining the BPF. Rachel broadly looks after most areas of tax and finance policy at the BPF – and is celebrating her 10-year anniversary with the BPF this year!

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