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Discussion around current trends in regulations for banks globally
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Shirish Netke President at Amberoon
On the same day that the prosecution rested its case against Paul Manafort, the U.S. Attorney’s office in Tucson, AZ got a seven-year sentence against a fraudster for a money-laundering scheme; a former Microsoft employee was sentenced to 18 months after pleading guilty to conspiracy to commit money laundering; a messy FBI sting involving money l...
18 August 2018 /ai /regulation
Sufyan Khan Head of Pre Sales / Solution Consulting - Europe at Oracle
In November 2016, the Bank of England (BoE) published the results of its 2016 banking stress tests which measured the resilience of UK’s major banks’ balance sheet in adverse scenarios. These incorporated a synchronised UK and global recession with associated shocks to financial market prices, and an independent stress of misconduct costs. The str...
31 July 2018 /regulation /wholesale
Breana Patel CEO | Thought leader in Bank Risk & Regulations at Bonova Advisory | Risk &Regulatory Advisory
CECL vs. CCAR: A Significant Change in the Banking Industry In an effort to reinforce the financial system, The FASB (Financial Accounting Standard Board) releases new regulations and policies from time to time. To ensure that financial institutions have liquidity in the times of extreme stress, CECL was released in addition to CCAR for capital ...
24 July 2018 /regulation
In conversation with Marika Lulay we discuss top 5 trends in Fintech and Banking Industry 1.Industry 4.0 — I strongly believe that there is a paradigm shift in the way IT systems will be built and run in the future. And this paradigm shift is true for all sectors. In the new world of „digital business“, the only way our clients can keep up with th...
Anjani Kumar Principal Consultant - FS Risk & Compliance at Infosys Limited
Background AnaCredit (analytical credit dataset) is a three-stage project that was launched by the European Central Bank (ECB). In April 2014, ECB had announced the establishment of a central credit register that would be updated with granular credit (individual loan level), counterparty, and credit risk/exposure data of all of the credit institut...
20 June 2018 /regulation
Retired Member
Big fine but no time – CBA receives largest corporate fine in Australian history What is the cost of breaching AML/CFT regulations 53,750 times? According to AUSTRAC it is AUD$700 million, which was the sum of the fine that it handed to the Commonwealth Bank of Australia (CBA) earlier this week. The fine is larger than some expected, CBA themselve...
08 June 2018 /regulation
As the first banks start implementing Open Banking, much of the talk in the industry is about how banks will manage security issues to become compliant. Whilst security is clearly an issue, I don’t believe that it is the biggest issue at hand. Banks are experts at dealing with security issues and managing risk. The real issue banks face is the pos...
22 May 2018 /regulation /retail
The Financial Action Task Force (FATF) regards access to accurate information regarding beneficial ownership as critical to the effective deterrence of criminal activities that could be obscured by corporate structures. In 2014, FATF published a guidance paper, ‘Transparency and Beneficial Ownership’, aimed at assisting countries in implementing me...
21 May 2018 /regulation
Bob Lyddon Consultant at Lyddon Consulting Services
Qualifying applicants under the UK Financial Conduct Authority's Senior Managers Regime must complete a lengthy form and, in certain circumstances, provide full explanatory information. A candidate must give full answers to all the questions and in such a way that the result is not "materially false, misleading or deceptive". Otherwise t...
20 May 2018 /payments
Freddie McMahon Director Strategy and Innovation at DF2020 Ltd
There is a very interesting issue related to GDPR that has emerged from the USA. Very simply, USA firms that adhere to GDPR, but do not apply at least the same level of consent to its domestic customers may be acting illegally. The implications are staggering. The rationality for this argument is that there is a USA law related to “national origin ...
18 May 2018 /ai /regulation
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