The role of the Regulatory Committee (RegCom) is to serve as the LMA Board’s strategic voice on regulatory and compliance matters, ensuring that the evolving regulatory landscape is navigated with clarity, expertise and foresight. Comprising of senior compliance leaders from member firms, RegCom provides valuable insights and feedback to the Board, LMA members and Lloyd’s.
The committee’s work is powered by three specialist workstreams:
Through these active channels, RegCom ensures LMA members remain informed, represented and resilient in a complex regulatory environment.
Monitoring and addressing issues arising from UK and overseas financial services regulators (FCA, PRA etc.) that affect Lloyd’s members.
Engaging proactively with UK regulators to influence the development and implementation of regulatory policy relevant to managing and members’ agents.
Providing feedback from market practitioners to regulators and other external bodies on existing or proposed regulatory changes.
Ensuring that regulatory approaches within the Lloyd’s market are pragmatic, proportionate and not unduly burdensome or costly.
Working jointly with the Lloyd’s Franchisor on regulatory and compliance matters, including the application of Lloyd’s Principles, Standards and Guidance.
Keeping members informed about regulatory developments via presentations, newsletters and training sessions.
Reviewing the activities of both Lloyd’s and UK regulators to minimise overlapping or redundant regulatory requirements for members.