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Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

originally founded 01 Jul 2010

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Michael Chambers Director | Head of Prudential at Wheelhouse Advisors

A prudential end of year to-do list

With calendar year end right around the corner, now is a good time to think ahead about the annual review of your firm’s prudential governance arrangements. It’s a good time to sit down with a cup of coffee and reflect on the FCA’s consultation paper (or “CP”) from earlier this year; ‘Consultation 19/20: Our framework: assessing adequate financial...

29 November 2019 /regulation

Retired Member

Using automation to decrease risk in outsourcing for financial service organisations

Earlier this year, the European Banking Authority (EBA) issued its Guidelines on Outsourcing Arrangements, which highlighted areas of risk to banks and other financial organisations, relating to outsourced contracts. When we think of the potential risks of outsourcing, we tend to think about vulnerabilities that might lead to a cyber attack or bre...

05 November 2019 /regulation

Retired Member

Best Execution in the US: Three Things Broker-Dealers Need to Think About

As we head into 2020, US broker-dealers are preparing for new mandates on how they report transactions back to customers. The requirements – established by the Securities and Exchange Commission’s (SEC) updates to Rule 606 – aim to bring investors greater transparency and an assurance that orders are handled in line with the principles of best exe...

17 October 2019 /regulation

Saeed Patel Director of Product Strategy at KRM22

Crypto Regulation - Asia Leading the Way

The exponential growth of institutional and retail investor interest in the crypto markets has led to the inevitable need to reposition existing financial regulatory frameworks to incorporate supervision of digital asset markets. With the recent bitcoin surge back to above $10,000 per bitcoin, it is evident that crypto markets have become too subs...

15 October 2019 /regulation

Mark Demo Head of Community Development at AcadiaSoft

REGULATORY IM VALIDATION IN EUROPE AND THE U.S. - WHAT PHASE 5 AND 6 FIRMS NEED TO KNOW

Approximately 250 firms, including many more buy-side firms, could fall into scope for Phase 5 of the Uncleared Margin Rules (UMR), according to AcadiaSoft’s estimates. At the same time, firms will need to be prepared to address variations of the Initial Margin (IM) rules that may play out differently in Europe than in the U.S. AcadiaSoft will tak...

08 October 2019 /regulation

Konstantin Rabin Head of Marketing at Kontomatik

Fintech challenges in the Post Soviet space

There are many challenging areas for the traditional Fintech industry to get into, with one of the most challenging areas in the world being the Post Soviet space. This includes Russia and any country that used to be part of this space. The issues faced by the Fintech industry are many, and solving them goes beyond simply offering a superior servi...

02 September 2019 /inclusion

Mark Demo Head of Community Development at AcadiaSoft

U.S. AANA Calculation Concludes - What Does This Mean?

Friday, August 30 marks the end of the U.S. AANA (Average Aggregate Notional Amount) calculation period for uncleared over-the-counter (OTC) derivatives. By next week, all U.S.-based firms should know whether they are in-scope (or not) to move Initial Margin (IM) beginning September 1, 2020. What happens next? If your firm is not in-scope – cong...

28 August 2019 /regulation

Matt Smith CEO at SteelEye

Are we doing enough to democratise data?

In today’s highly digitalised world, data is at the core of everything we do. The increased use of technology means that firms now produce and process more data than ever before. This is particularly pertinent in the financial sector, where the widespread adoption of technology and introduction of a number of significant regulatory mandates now re...

01 August 2019 /regulation

Dmitrii Barbasura Chief Operating Officer at Fintech Galaxy

Working with Technical Service Providers under PSD2

According to PSD2, regulated TPPs are allowed to access banks’ PSD2 interfaces. TPPs can choose whether to integrate with banks on their own or to rely on an aggregator - Technical Service Provider (TSP). Regardless of the chosen method, TPPs should identify themselves toward banks for security and traceability reasons. According to PSD2, such ide...

30 July 2019 /regulation

Mark Demo Head of Community Development at AcadiaSoft

BCBS and IOSCO Add Sixth Phase to Global Regulatory Initial Margin Rollout

Today, the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) recommended that prudential regulators add a sixth phase to the global regulatory initial margin (IM) rollout. BCBS and IOSCO are recommending to split the current Phase 5 gross notional threshold as follows: IM Phase 5 g...

23 July 2019 /regulation