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Artwork for Following the Rules

Following the Rules

Lucy McNulty
Financial Services
Regulatory Compliance
Artificial Intelligence
Compliance
Non-Financial Misconduct
Financial Conduct Authority
Smarsh
Generative AI
Risk Management
Financial Services Regulation
Voice Communications
FCA
Governance
Regulations
Market Abuse
Regulation
Communications Surveillance
Data Governance
Operational Resilience
Environmental, Social and Governance (ESG)

An insider’s guide to the laws dictating life within UK and EU financial services, the people influencing their development and policing finance workers’ compliance

PublishesTwice monthlyEpisodes100Founded4 years ago
Number of ListenersCategory
Business

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Artwork for Following the Rules

Latest Episodes

Regulation has never been under greater scrutiny. Around the world, governments are asking regulators to support growth and innovation while continuing to protect consumers, preserve financial stability and prevent the next crisis, and increasingly, ... more

Today's episode is a special one, produced in association with Smarsh, a technology firm that helps financial institutions capture, govern and monitor their communications.

This episode forms part of our Following the Rules: How To series, focused o... more

Today’s episode is a little different to normal. It’s a recording of a panel discussion I was Invited to moderate a recent event convened by the Managed Funds Association or MFA, the global trade body for the alternative asset management industry, an... more

Today’s guest argues that one of the biggest risks facing financial services isn’t market volatility or even regulatory complexity. It’s the growing politicisation of the rulebook around the world.

As geopolitical tensions rise and regulatory regime... more

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Recent Guests

Lyndon Nelson
Former Deputy CEO of the Prudential Regulation Authority and Executive Director at the Bank of England
Bank of England / Prudential Regulation Authority
Episode: How to build better regulators with former Bank of England and FCA executives Lyndon Nelson and Gavin Stewart
Gavin Stewart
Former senior leader at the Bank of England, the Financial Services Authority, and the Financial Conduct Authority, including Chief Risk Officer at the FCA
Bank of England / FCA
Episode: How to build better regulators with former Bank of England and FCA executives Lyndon Nelson and Gavin Stewart
Goutam Nadella
Chief Strategy Officer at Smarsh
Smarsh
Episode: Special episode: How to unlock AI innovation without losing control with Smarsh's Goutam Nadella
John Glen
Former city minister, member of the Treasury Committee
UK Government / Parliament
Episode: How to rewire UK financial regulation for growth with the PRA's David Bailey, FCA's Kate Collyer, former City minister John Glen, shadow City minister Mark Garnier and New Financial's Max Bierbaum
David Bailey
Executive director for Prudential Policy at the Bank of England
Bank of England
Episode: How to rewire UK financial regulation for growth with the PRA's David Bailey, FCA's Kate Collyer, former City minister John Glen, shadow City minister Mark Garnier and New Financial's Max Bierbaum
Kate Collyer
Chief economist and director of strategy at the FCA
Financial Conduct Authority
Episode: How to rewire UK financial regulation for growth with the PRA's David Bailey, FCA's Kate Collyer, former City minister John Glen, shadow City minister Mark Garnier and New Financial's Max Bierbaum
Max Bierbaum
Head of research and director of the EU program at New Financial
New Financial
Episode: How to rewire UK financial regulation for growth with the PRA's David Bailey, FCA's Kate Collyer, former City minister John Glen, shadow City minister Mark Garnier and New Financial's Max Bierbaum
Mark Garnier
Shallow economic secretary to the Treasury (former) and MP
UK Parliament
Episode: How to rewire UK financial regulation for growth with the PRA's David Bailey, FCA's Kate Collyer, former City minister John Glen, shadow City minister Mark Garnier and New Financial's Max Bierbaum
Chris Barlow
Long-time Nomura executive, General Counsel for EMEA, Joint Wholesale Chief Compliance Officer, Head of Legal and Compliance for Nomura's EMEA operations
Nomura
Episode: Nomura's Chris Barlow on taking politics out of regulation, preparing compliance for the future and building the right culture

Host

Lucy McNulty
Host of Following the Rules, financial journalist guiding the conversation

Reviews

4.9 out of 5 stars from 45 ratings
  • Banking COO

    Good subject matter but the sound editing is dodgy. It’s as if they’ve used automated software to remove any pauses or gaps and the result is a bit of a slurred stream of consciousness.

    Apple Podcasts
    3
    Rock fythg
    United Kingdoma year ago
  • A must-listen for risk & compliance folks

    Lucy’s interviews always cut through the noise. She brings the kind of sharp, globally-informed perspective that makes you rethink your own assumptions. I appreciate the way she frames rules not as limits, but as lenses through which power, ethics, and accountability come into focus. If you’re in governance, compliance, or risk, this podcast is for you.

    Apple Podcasts
    5
    The Thoughtful One
    Russiaa year ago
  • Key podcast to get inside what is going on in regulation

    Lucy get's key people to unburden themsleves in a most helpful way. Always worth a listen

    Apple Podcasts
    5
    zcqet
    United Kingdom3 years ago
  • Always insightful and topical

    My go to podcast for regulatory insights and thought leadership on the topical areas of the day.

    Apple Podcasts
    5
    markturrner308
    United Kingdom3 years ago
  • This Podcast Rules!

    Full disclosure- I used to work with Lucy in a previous professional incarnation and know her slightly. But I was taken aback by how good this podcast is taking the potentially dry subjects of compliance and regulation and bringing them alive through insightful guests from law, politics, tech and accountancy. Lucy has a very good eye for what makes a good listen. Also the podcast doesn’t waste time on pointless small talk and banal pleasantries, instead getting stuck into ideas and issues. Hugel... more

    Apple Podcasts
    5
    Czuk1978
    United States4 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Guests from law, policy, and tech bring breadth and depth to regulatory topics.
Listeners praise concise, insightful discussions with top-tier guests and actionable takeaways.
Audiences value the host's global perspective and practical framing of complex regulatory issues.

Talking Points

Recent interactions between the hosts and their guests.

How to use training to reduce toxic workplace behaviour
Q: What role should senior leaders play if training is going to land meaningfully?
Leadership must demonstrate the right behaviors, tie training to organizational goals, and set expectations so managers model and reinforce the desired culture.
How to use training to reduce toxic workplace behaviour
Q: But what does effective compliance training look like in practice if we're assuming that the institution's goal is genuine behavioral change?
Training should be set up to encourage staff to do their best, avoid punitive approaches, and include practical soft-skill guidance so conversations and interventions can happen respectfully and effectively.
How to succeed as a Chief Compliance Officer in today’s markets with compliance and risk strategists Natalie McManus-Barnett and Jennifer Geary
Q: What problem were you trying to solve with the Compliance 365 model?
We aimed to create a holistic framework that pulls together governance, operations, tech, data and advisory perspectives, tying culture and strategy to execution so compliance can adapt to change and stay relevant across the organization.
Special episode: How to modernise voice surveillance for today’s markets with Smarsh's Eric Wiggins and Shaun Hurst
Q: What is the practical first step firms can take to modernize their voice surveillance?
Start with a unified capture strategy across all voice channels, ensure full transcription and searchability, and enrich with metadata to integrate into broader analytics workflows.
Special episode: How to modernise voice surveillance for today’s markets with Smarsh's Eric Wiggins and Shaun Hurst
Q: What happens to voice capture if the primary recording system goes down?
The framework should include resiliency with redundant systems and rapid failover to ensure continuous capture and defensible records.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

Listeners per Episode
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Frequently Asked Questions About Following the Rules

What is Following the Rules about and what kind of topics does it cover?

A sharp focus on governance, compliance, and risk within financial services, with frequent emphasis on culture, regulatory change, and practical frameworks for staying compliant in rapidly shifting environments. Episodes often feature senior regulators, general counsels, risk and compliance leaders, and technology experts who translate complex rules into actionable guidance for boardrooms and front-line teams. Noteworthy elements include a strong emphasis on culture and accountability, the role of AI and data in risk management, and strategic approaches to governance—often framed as enabling business performance rather than mere cost centers.

The show distinguishes itself by blending high-profile regulatory insights with pragmatic, framewor... more

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1. The Rest Is Politics
2. The News Agents
3. Political Fix
4. The Rest Is Politics: Leading
5. The Politics Show

How many episodes of Following the Rules are there?

Following the Rules launched 4 years ago and published 100 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Following the Rules?

Recent guests on Following the Rules include:

1. Lyndon Nelson
2. Gavin Stewart
3. Goutam Nadella
4. John Glen
5. David Bailey
6. Kate Collyer
7. Max Bierbaum
8. Mark Garnier

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