Since the 2008 GFC, financial regulation has changed significantly. Tougher, more detailed and more complex standards now apply to all aspects of regulation and this has extended to capital, leverage, liquidity, recovery and resolution planning, governance, culture, remuneration, retail and wholesale conduct, anti-money laundering and counter-terrorist financing, systemic risk and macro-prudential policy. Although banks have faced the fullest force of these reforms, the direction of travel has been similar across insurance, investment firms and financial market infrastructure.