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.

Ivy Schmerken Editorial Director at FlexTrade Systems

SEC Steers Pilot on Equity Trading Fees and Rebates Amid Headwinds

Diving into one of the more controversial issues in equity market structure, U.S. regulators are moving forward with the transaction-fee pilot that will force stock exchanges to lower the fee caps on rebates they pay to brokers and market makers. “I think the SEC is about to embark upon a productive time for assessing market structure reforms,” sai...

07 May 2018 /regulation

Retired Member 

13 Points of Clarification for FinCEN Final Rule CDD

1. Beneficial Ownership Threshold FinCEN has reiterated that the specified threshold (25%) is a floor, not a ceiling. It has left to the discretion of covered financial institutions (FIs) to implement stricter thresholds if they so choose. In addressing a requirement to impose stricter thresholds for certain customers, FinCEN directs that any incr...

19 April 2018 /regulation /wholesale

Henri Wajsblat Financial Services Expert at Anaplan

Don’t let ringfencing get the better of you: connected planning will make compliance a breeze

Increasing regulation is just one thing we’ve inherited from the 2008 financial crisis. While it may seem like a growing paranoia within the industry, making sure the economy is better prepared for upcoming financial challenges is a vital step towards post-crisis reform. From 1 January 2019, the largest UK banks must separate core retail banking f...

16 April 2018 /regulation

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