Banking Regulations

Discussion around current trends in regulations for banks globally

Robert Houghton Founder at Insightful Technology

Everyone’s unfairly guilty, until proven innocent in the eyes of financial regulators

The recent raids by French prosecutors that targeted the Paris offices of five major banks including HSBC and BNP Paribas on suspicion of fiscal fraud is a serious matter, and it’s one that should not be taken lightly. If the authorities have evidence that a bank or its employees have committed a crime, then they should absolutely investigate and h...

19 April 2023 /regulation /crime

Steve Morgan Banking Industry Market Lead at Pegasystems

What EU 6th AML/CFT Rules Mean for Banking Technology

While Ukrainian war sanctions have dominated the debate about how banks should tighten KYC-systems, there is a parallel major overhaul of the European Anti-Money Laundering and Combating of Financing Terrorist (AML/CFT) rules underway in 2023. This further adds to the strain on the compliance systems of financial institutions operating across Euro...

13 April 2023 /payments /regulation

Ravishankar Poonjolai Consulting Partner at TCS

UK Consumer Duty Regulation – Impact on buy side firms

The Consumer Duty regulation sets higher and more defined standards of consumer protection across UK financial services sectors and requires FCA (Financial Conduct Authority) regulated firms to put their retail market customers’ needs first. This affects financial service providers such as banks, building societies, insurance, life & pension f...

13 April 2023 /regulation /wealth

Mete Feridun Chair at EMU Centre for Financial Regulation and Risk

What does the EBA`s proposal to expand FRTB reporting mean for banks?

The Fundamental Review of the Trading Book (FRTB) was introduced into the prudential framework of the EU by Capital Requirements Regulation (CRR 2) as a regulatory reporting requirement in 2020. The final draft Implementing Technical Standards (ITS) on the FRTB reporting requirements went into force in 2021 as part of version 3.1 of the EBA report...

09 April 2023 /regulation /wholesale

Ellora Roy Senior Manager, Banking & Financial Services, UK&I at Cognizant

Consumer Duty: The frog’s been eaten, what’s next?

With the implementation plans submitted, initial feedback provided, and sector specific guidance letters issued by the FCA - firms are now scrambling to meet the new Consumer Duty [the Duty] rules by the deadline of 31st July ’23. Will all of this be done by then? The answer is a reverberating no. And the scale of work is the least of the reasons...

05 April 2023 /regulation /retail

Retired Member 

GRC Outlook: Q1 2023 - a look back at all the key UK regulatory updates

Introduction We bid farewell to 2022 with a Christmas present from the Chancellor where he announced and reinforced a spate of new and on-going initiatives for the financial services sector. Continuing with the momentum, the first quarter of the 2023 has been buzzing with regulatory updates around Conduct, Digital Payments, Re-alignment of EU re...

30 March 2023 /regulation /markets

Nevan McBride Risk Practice Director at Jaywing Risk

Consumer Duty: How data and modelling can detect and prevent consumer vulnerability

The final rules and guidance for a new Consumer Duty, published by the FCA in a policy statement in July 2022, set higher and clearer standards of consumer protection across financial services, and requires firms to put their customers’ needs first. The rules require firms to consider the needs, characteristics and objectives of their customers – ...

27 March 2023 /regulation

Rajeev Verma Consultant at Tata Consultancy Services Ltd

ROLE OF PROCESS MINING IN ENABLING ESG COMPLIANCE

Role of Process Mining in enabling ESG compliance Overview ESG progression in BFSI Industry : Undoubtedly there is never seen focus on environmental, social, and governance issues post-pandemic Covid-19. Although the financial sector has been investing in CSR activities for the last few decades, the momentum has been building due to the rising

28 February 2023 /regulation /sustainable

Steve Morgan Banking Industry Market Lead at Pegasystems

Consumer Duty Standards: How Low Code Tech Will Solve the Back-End Challenges

Many will be keenly aware that the UK’s financial regulator the FCA is asking the retail banking sector to drive ahead with applying tougher customer service standards. With the initial July 2023 deadline on the horizon, keeping to their timetable should mean greater adoption of more agile development, low code and automation technologies and tech...

22 February 2023 /regulation

Steven Rackham CTO for Financial Services at NetApp

How the financial services industry can prepare for DORA

Big Tech’s influence is becoming more and overarching across numerous different sectors. From retail to politics, Big Tech is slowly infiltrating our lives. One sector which is trying to ensure it keeps some control is the financial services sector. Last July, the Bank of International Settlements published a paper arguing that the reliance of fin...

09 February 2023 /regulation