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 

The Bank of England - SONIA Reforms

The Bank of England (BoE) has recently published a consultation paper on reforming the Sterling Overnight Index Average (SONIA) benchmark. It had conducted a similar exercise, albeit exploratory, as a public consultation in Q3-Q4 of 2015 with the objective of monitoring the sterling overnight money market and reforming the SONIA benchmark. The out...

08 November 2016 /regulation

Retired Member 

CFTC’s Issuance of Foreign Boards of Trade Permits

The CFTC announced on October 31st, 2016 that they issued Orders of Registration to the following Foreign Boards of Trade (FBOT): Eurex CME Europe Limited ICE Futures Europe The London Metal Exchange London Stock Exchange We congratulate these exchanges on their newly acquired Orders of Registration. These Orders of Registration will allow...

01 November 2016 /regulation

Stuart Lacey Founder at Trunomi

Brexit Notwithstanding: GDPR Means GDPR

Last week I joined attendees at CtrlShift’s Personal Information Economy event, where Elizabeth Denham, the UK’s new Information Commissioner, gave her inaugural speech. Denham’s overriding message is critical for businesses: the EU’s General Data Protection Regulation (GDPR) will still apply to the UK post-Brexit. Denham made it clear that UK dat...

07 October 2016 /regulation

Abhishek Chatterjee Managing Partner at Gartner Inc.

SIBOS 2016 - Protect customer, reduce risk and simplify core

Last year SIBOS was an inflection point for transaction bankers and FinTech, but this year in Geneva we saw a very measured response to key Industry challenges faced across the globe, starting from Cyber Security, Compliance to Robotic Advising, Industry Utilities, E2E Payment Traceability & interoperability and Blockchain. The opening Plenary...

05 October 2016 /regulation /sibos

Retired Member 

Leveraging Digital Identity Verification to Stay On Top of New AML Regulations

Coping with the rapid pace at which new Anti-Money Laundering (AML) regulations are enacted poses quite a challenge to enterprises worldwide. If you take the case of financial institutions, this entails a dual test, as banks and other financial services providers not only need to comply with an increasing number of AML and Know Your Customer (KYC)...

15 September 2016 /regulation

Retired Member 

EU Benchmarks Regulation: Benchmarks Continuity and Market Protection through Article 23

“…necessary to include a power for the relevant competent authority to require mandatory contributions from supervised entities to critical benchmarks in order to preserve the credibility of the benchmark in question.” The systemic importance of financial benchmarks in the global financial structures cannot be emphasised enough. Considered as criti...

02 September 2016 /regulation

Retired Member 

Technology can turn the burden of regulation and red tape into a tool for good management

Regulators' increased focus on consumer transactions has pushed compliance and risk management to the heart of the financial sector, and many organisations are struggling under the administrative burden this imposes. Banks and insurers need to store vast amounts of data recording their transactions and this demand has filtered through to third-par...

23 August 2016 /regulation

Retired Member 

Use Location Intelligence to Combat Financial Crime

Intelligence – artificial or real – is only as good as the information it uses. Location intelligence helps contextualize a situation and can augment machine learning and other applications of artificial intelligence. How can location intelligence be applied to regulatory compliance initiatives to help combat financial crime? Introduction Intelli...

22 August 2016 /regulation

Martijn Groot VP Product Management at Asset Control

Creating a Shared Service for FRTB Compliance

Financial institutions are increasingly leveraging shared services, from enabling Know Your Customer (KYC) compliance to post-trade reference data management, in order to reduce both cost and compliance resources. And, as the new data requirements associated with the Fundamental Review of the Trading Book (FRTB) become clearer, whether it is the ...

17 August 2016 /regulation

Retired Member 

Euro Overnight Index Average-EONIA Reforms: A Clear Sign of 'Renovating' Global Benchmark Standards

The recently unveiled plan of European Money Markets Institute (EMMI) to enhance the robustness and viability of Euro Overnight Index Average (EONIA), one of the major reference rates in European money markets, is a welcome reassurance to the investors and the global economic structures at large. The plan to strengthen and overhaul this critical b...

17 August 2016 /regulation /wholesale