International regulatory and oversight trends in financial consumer protection: What can be gleaned from the UK, Portuguese, Irish and Canadian experiences?

Political and economic events with global ramifications continue to afflict new regulatory regimes. These regimes are being developed to address events such as COVID-19 and climate change, and developments in areas such as diversity and inclusion, cybersecurity, ESG (Environmental, Social, and Governance), cryptocurrency, etc. These developments have forced organisations and regulators alike, including financial sector regulators, to assess their impact on the way regulators perform their work. This paper describes some of the trends related to financial conduct oversight that have emerged recently in the UK, Portugal, Ireland and Canada and how conduct authorities in these countries have responded to address these trends. It endeavours to shine a light on initiatives that have been taken by some regulators to advance conduct oversight and the protection of consumers in their respective countries. It is meant to sensitise and inform jurisdictions (whose conduct frameworks may not be as developed as those studied for this paper) to the progress that is being made in the area of conduct policy and supervision. It is hoped that it could also serve as a potential preparatory tool for compliance practitioners whose conduct authorities may be contemplating similar changes to their frameworks.