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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

Who owns the data?

There's been a vigorous debate recently about data in financial services and who it belongs to. At the Vendorcom conference last month it featured high on the list of concerns especially as more and more technologists are developing apps and services that specifically look at using data. I've long been bemused by the fact that the credit companies ...

20 October 2017 /payments /regulation

Retired Member

FinCEN Final Rule: Redefining Client Due Diligence Requirements

Coming into force on May 11th, 2018, FinCEN’s Final Customer Due Diligence (CDD) Rule (i.e. FinCEN Final Rule (CDD)) will bring in sweeping new changes to how financial institutions collect, maintain and act upon beneficial ownership information and conduct customer due diligence. The Rule codifies new and existing CDD requirements under the Bank ...

20 October 2017 /regulation

Breana Patel CEO | Thought leader in Bank Risk & Regulations at Bonova Advisory | Risk &Regulatory Advisory

AML BSA compliance : Revised CDD rule

Background 11.5 million documents, a staggering number, were leaked from Panamanian law firm ‘Mossack Fonseca’ in 2015. The contents of these documents, mostly financial information about wealthy individuals and public figures wound up revealing some fascinating facts. These facts led to investigators realizing that illegal operations were occurri...

17 October 2017 /regulation /wholesale

Breana Patel CEO | Thought leader in Bank Risk & Regulations at Bonova Advisory | Risk &Regulatory Advisory

CCAR : Current and Future trends

It’s been nearly a decade since the financial crisis of 2008. However, the Comprehensive Capital Analysis and Review continues to be an ever-evolving process. Trends for 2017 and 2018 show that the Fed continues to work toward establishing clear and unwavering CCAR standards. The year in review For the third year in a row, every bank passed the qu...

16 October 2017 /regulation

Retired Member

Regtech: what's in a name?

This week's CSFI (Council for the Study of Financial Innovation) discussion between representatives from the Bank of England, VC Illuminate Financial and Kompli-Global, an intelligent KYC/AML utility, highlighted how elastic a term Regtech still is. But, more usefully, it enabled a set of common views, attitudes and interests to emerge which did mo...

04 October 2017 /regulation

Breana Patel CEO | Thought leader in Bank Risk & Regulations at Bonova Advisory | Risk &Regulatory Advisory

Cyber Security Regulations : Financial Services

We live in an age where the threat of cyberattacks is seemingly imminent. As a result, many firms in the financial services and banking industries have stepped their game up and created specific security teams that can endure the various threats made by individual or organizational assailants. Also, to combat this risk, many regulatory bodies hav

29 September 2017 /security /regulation

Bob Lyddon Consultant at Lyddon Consulting Services

Banco Popular Espanol: new EU bank supervisory system threatens to unravel

In June Banco Popular Espanol (“BPE”) was sold to Santander for €1, with Santander taking over all the assets and senior liabilities of BPE. Crucially BPE depositors with over €100,000 in their accounts were not bailed-in – they did not have the excess converted into “capital-like instruments” in the recovering/resolved bank. The holders of share ...

19 September 2017 /wholesale

Retired Member

Financial Crime Compliance Benefits of Blockchain and DLT

Blockchain & Distributed Ledger Technology? Digital currencies like Bitcoin and Ethereum are what most people think of when they hear “blockchain”, but alternative uses for blockchain and distributed ledger technology (DLT) have taken mainstage as of late. At this point, you might already be asking: What exactly is blockchain? What is Distri

11 September 2017 /regulation

Saloni Ramakrishna Author; Senior Director at Oracle

AnaCredit - Is it One regulation or Many? A look at the impact of National variations.

It depends on who is answering that question. Really!! It is a single uniform regulation at the ECB (European Central Bank) level with clearly spelt our coverage. To ECB’s credit they have given comprehensive implementation information through the detailed AnaCredit Reporting manual, part 1, 2 and 3. The information that they expect from all the p...

31 August 2017 /regulation

Retired Member

Open Banking: Know the rules to avoid a shipwreck

Twelfth Night starts with a shipwreck. Emma Rice’s production at The Globe was magical: Shakespeare would have applauded. Superb were Feste, the wise fool, and Malvolio, the whistling regulator. The extraordinary begins to unfold and slips into a farce. In less than six months, Open Banking sets sail, so to avoid floundering we need to understan...

14 August 2017 /regulation