The client was a leading trade association for the UK banking and financial services sector, looking to respond to one of the UK government bodies’ call for evidence on regulatory coordination in respect of recommendations for improving Cost/Benefit Analysis (CBA) by financial-services regulators in the UK.
The paper’s focus was to identify the manner in which regulators were analysing the costs and benefits of their interventions and the mechanisms for scrutinising these analyses. The use of desktop research was utilised to gather evidence from a sample of regulators and industry bodies.
Avantage Reply was able to finalise the policy paper for the client to successfully submit their response to the UK regulator within the required timeframe.
The client wanted to finalise the policy paper within a six-week period, which was a very tight deadline for Avantage Reply to gather evidence from a range of practices. The desktop research was based on a sample of regulators and industry bodies, as well as the input from industry practitioners to finalise the recommendations that would bring significant improvements in CBAs conducted by financial-services regulators.
To develop a set of recommendations and measures that the UK regulator should investigate and consider in order to strengthen the CBA practices, Avantage Replay conducted desktop research of a broad range of current regulatory and supervisory norms in relation to CBAs, not only within the UK financial-services sector but also across other UK sectors and in jurisdictions outside the UK, and subsequently through discussions with industry practitioners.
Avantage Reply finalised the policy paper, providing seven recommendations that if implemented would bring about significant improvement in CBAs conducted by financial-services regulators. In the end, the client was able to successfully submit the policy paper to the regulator within the required timeframe.