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.

Retired Member 

AML Internal Audit: Friend Not Foe

I’ve been on both sides of this coin. When I worked in a Financial Intelligence Unit in a major global financial institution, internal audit was looked at as an enemy. Internal auditors were there to play “gotcha” and expose any error, no matter how small. My first thought was not, “how can they help us improve the program?” but rather, “how can w...

27 February 2017 /regulation

Retired Member 

CME Requires Guarantees on Trades

The CME Group just amended rule 574 stating: “All connections to the Globex system, including direct connections of non-clearing members or customers, must be guaranteed by a clearing member that assumes financial responsibility for all activity through the connection. With respect to transactions given up to other clearing members, such guarantee...

08 February 2017 /regulation

Sufyan Khan Head of Pre Sales / Solution Consulting - Europe at Oracle

UK Stress Testing: Putting stress to the test

In October 2015, the BOE of England (BOE) published details of the 2016 Stress Test Scenario, which formed the basis of the stress tests that were conducted in 2016 to assess the resilience of the UK banking system. Last year’s exercise has been revised and represents the BOE’s first “annual cyclical scenario” (ACS). It models substantial deterior...

06 February 2017 /regulation

Abhishek Chatterjee Managing Partner at Gartner Inc.

Capital Market - How to drive Technology led growth?

Capital market industry is facing challenges across revenue growth, capital charges and high structural costs. Investment banking revenue fell 4% last year mainly due to 8% decline in Fixed income, 5% drop in advisory and underwriting revenues. While growth is hard to come by, the problem is further magnified by deterioration of cost-income-ratio ...

04 February 2017

Retired Member 

Welcome to RegTech: the age of disrupting the status quo is here

On Tuesday 31st January at a crowded event near Canary Wharf, a select group of RegTech innovators, accelerators and venture capitalists came together to discuss this emerging market. Attendees heard four expert speakers explore the challenges and opportunities. But first, some background. -- Financial market participants had to acknowledge some h...

04 February 2017 /regulation /startups

Retired Member 

AML Compliance Failure: The Gift that Keeps on Giving

It’s no state secret that Anti-Money Laundering (AML) compliance failures can cause serious harm. But what may not be obvious is that by the time the failure has made it into the public domain, the bank has been suffering the repercussions of that failure for years. It is the gift that keeps on giving. A compliance failure can have lasting effects...

30 January 2017 /regulation

Martijn Groot VP Product Management at Asset Control

The Regulatory Web of Complexity

At the centre of financial services risk management and regulatory compliance is the convergence of data from a huge range of information silos, departments, product lines, customers and risk categories. Risk and finance are at the end of an extensive chain, examining the consolidated threads, uncovering issues and spotting patterns. This is where...

11 January 2017 /regulation

Retired Member 

Could RegTech save the banking industry?

RegTech alone will not save the banking industry. It must embrace digital and work out the supply chain disruption that #FinTech has created. However with profit margins continuing to shrink, regulations continuing to add further complexity on an already muddled landscape. Automation of process using technology, innovative use of technology to red...

30 December 2016 /regulation /wholesale

Retired Member 

FATF’s AML Evaluation of the US: Will it Drive More Regulatory Changes?

On December 1, 2016 the Financial Action Task Force (FATF) released its Mutual Evaluation Report of the US Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) Measures. While the report was generally favorable, it did point out a few areas that need to be improved – some of which could be catalysts for new changes in US policy. As we...

12 December 2016 /regulation

Henry Hilska Managing Principal at Convexity Solutions

KYC: Solving the Regulatory Challenges of Data Privacy

Data Privacy regulations increase challenges for bank KYC and AML programs Financial services organizations are under increasing pressure from regulators to focus on KYC and client due diligence. This pressure is exhibited in the form of fines and penalties that have been levied upon numerous banks and other organizations for lax procedures. Due...

02 December 2016 /regulation /retail