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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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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

Richard Warren Partner at FirstPartner

Why the payments industry needs to act quickly on the EBA’s latest PSD2 SCA Opinion

On Friday 21st June the EBA published a new Opinion Paper on the elements of strong customer authentication (SCA) under PSD2 which has been subsequently been backed up a by confirmatory statement from the European Commission. This opinion has significant practical implications for issuers, acquirers, card schemes and local regulators currently wo...

28 June 2019 /payments /regulation

Keith Stonell Managing Director, EMEA at Guidewire

Technology Can Help Insurers Respond to FCA on Charges of Poor Customer Service

Back in April, the CEOs of UK insurers, brokers, and other providers, received a letter from the Financial Conduct Authority (FCA) telling them to sort out poor customer service or else. This is all part of how the FCA, now with new tougher powers, is able to call insurers to account through the new Insurance Distribution Directive and Senior Mana...

25 June 2019 /regulation

Mark Demo Head of Community Development at AcadiaSoft

Monitoring OTC trades to ensure IM compliance

In late March, the Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) issued guidance to national regulators stating that Phase 4 and 5 firms need not negotiate documentation with counterparties or become operationally ready if the trading relationship with any given counterparty was ...

10 June 2019 /regulation

Matt Smith CEO at SteelEye

MiFID II - Moving past the challenges

Since MiFID II was implemented at the start of 2018, financial markets have struggled to adapt to the new and rigorous regulatory requirements. Recently, high profile cases have brought the consequences of non-compliance into the spotlight, with UBS and Goldman Sachs both receiving fines of £27.6m and £34m respectively, for misreporting their data...

10 June 2019 /regulation

Chris Holmes Senior Vice President at KAE Consulting

Status Check: Real-Time Payments in the US

During the past months, the Federal Reserve’s Faster Payments Task Force has made huge steps towards the implementation of a faster payments / real-time payments system in the US. As a result, the Fed’s RTGS (Real Time Gross Settlement) system is said to be ready to launch in 2020. Immediate loan availability, mobile payments, real-time invoicing ...

30 May 2019 /payments /regulation

Evgeny Likhoded CEO & Founder at ClauseMatch

AI in Compliance: the last but most urgently needed digital transformation

Artificial Intelligence (AI) is the latest technology to permeate the fast-moving financial sector, finding applications in everything from trading and fraud detection to credit risk evaluation and marketing. The widespread deployment of AI within financial services organisations stands to unlock an additional $1.2 trillion in value by 2035 accord...

14 May 2019 /ai /regulation

Retired Member

Wiring financial organisations for regulatory success

Regulatory compliance is a time and resource-consuming burden for every financial institution – since the Global Financial Crisis, regulatory requirements have increased exponentially. Regulators are increasingly demanding more detailed information, and firms now have to demonstrate greater levels of responsiveness, accuracy and monitoring of thei...

01 April 2019 /ai /regulation