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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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Retired Member

KYC - More Than Just Satisfying Regulators

When most banking professionals think of compliance they think of roadblocks to doing what they want to do. They think of check the box activities that they do simply to prevent regulators and internal audit from slapping their hand. They think about it in a very “me” way. What they often forget about are the true reasons compliance exists and the...

09 April 2018 /regulation

Retired Member

Government Backed, Blockchain-Based KYC Registries: The Good, the Bad, and the Verdict

KYC requirements have become a very time consuming and costly process, requiring different banks to conduct similar (if not the same) due diligence on the same customers over and over again. This becomes especially onerous when dealing with entity customers with complex ownership structures. It’s frustrating for both customers and banks. One of

26 March 2018

Freddie McMahon Director Strategy and Innovation at DF2020 Ltd

Economies of Compliancy, an opportunity for leadership and chatbots

The Economies of Compliancy is an emergent economics term that describes a competitive advantage of sharing practical regulatory knowledge and practices across entities. By means of a utility-based cloud service, business, non-profit or government, can lower their compliance costs and reduce the risks of non-conformance. For example, the cost of u...

23 March 2018 /ai /regulation

Ron Delnevo Chair at UK Cash Supply Alliance

LINK : can Nicky Morgan be a Genuine Consumer Champion?

I was in Parliament the other week, in a Committee Room, listening to a lot of promises being made by the LINK ATM Network. The promises boil down to the claim by LINK that they will never let any town be without an ATM. Do you remember the “we won’t close the last bank branch in town” promise? It didn’t last - and nor will LINK’s. I have been in C...

06 March 2018 /payments /inclusion

Retired Member

The Only Constant is Regulatory Change

For financial institutions, especially global ones, the myriad of regulations that they must adhere to is staggering. The difficulty with that is not just the number of targets they need to hit, but that those regulatory requirements are moving targets, rarely static or black and white. Current regulations are updated, and guidance on existing one...

02 March 2018 /regulation

Retired Member

eComms is changing, and so is compliance - are you?

The convergence of communications and collaboration tools has created an increasingly complex set of interactions among multiple parties over a wide range of channels. The challenge for regulated enterprises is not only how to capture these messages and immutably store them in a useful format, but also to do so in a way that enables them to comply...

22 February 2018 /regulation

Retired Member

The year ahead in Regulatory Reporting

New year, New Regulations, New Challenges With the year of MIFID II behind us, firms can now start looking ahead at what’s coming next over the horizon. Well, almost. The MIFIR compliance date may be past us, and the go-live may have gone relatively smoothly for a majority of firms, but there’s still a lot of work to do. This includes cleaning up...

01 February 2018 /regulation

Bob Lyddon Consultant at Lyddon Consulting Services

Unicredit's Non-Performing Loans - deteriorating again, but you wouldn't know it from the publicity

Unicredit gave a "Capital Markets Day" in London on 12/12/17 and what an upbeat event it was, accompanied by a slidedeck full of green ticks and words like "signed" and "completed", whatever those words actually mean, and probably a lot less than they were meant to signify. What was shocking, though, was the way Non-P...

14 December 2017 /wholesale

Retired Member

A Technological Approach to Identifying Beneficial Ownership

Beneficial ownership - the term that can be found on the lips of AML Compliance professionals across the globe at the moment. It isn’t a new concept but between the 4th EU Money Laundering Directive and the US FinCEN CDD Rule it has become the topic du jour. While there is much discussion about the requirements and advice to get programs to addres...

11 December 2017 /regulation

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

Impact evaluation - much to do

I am a member of the Finnish Council of Regulatory Impact. We are an independent body - but in the Prime Minister’s office. Similar organisations have been established also for example in Germany, the UK and Sweden. Our task is to evaluate how the evaluation of primarily the economic impact of new legislation has been performed. It is of course cle...

04 December 2017 /regulation