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Banking Regulations

Discussion around current trends in regulations for banks globally

Nish Kotecha

Nish Kotecha Co-Founder & Chairman at Finboot

ESG’s “Waterloo” moment

ABBA, one of the most successful bands in history performed in London recently. Agnetha, Björn, Benny and Anni-Frid looked real, authentic and amazing for their years. The crowds loved it. Regrettably, the singers were holograms created with weeks of performing on a stage in Stockholm, in front of hundreds of cameras collecting their every movemen...

/regulation /crime

Joost Van Houten

Joost Van Houten Founder & CEO at Sentinels

Banks must join forces to fight money laundering

The advent of artificial intelligence (AI) and machine learning (ML) in financial services is pushing the eternal battle against money laundering into a new phase. For some time, in a bid to curb the amount of illicit finance passing through their systems and to comply with ever-tightening regulations, financial institutions have been throwing mone...

/regulation /crime

Mete Feridun

Mete Feridun Chair at EMU Centre for Financial Regulation and Risk

EU Sustainable Finance Framework: What does it mean for banks?

The European Commission's (EC) Action Plan on sustainable finance is a major policy objective by the European Union (EU) to promote sustainable investment. As per the plan, banks are expected to finance sustainable economic activities to trasition to a carbon neutral economy. The plan was introduced in March 2018 in response to the Paris Agreemen...

/regulation /sustainable

Rafal Andzejevski

Rafal Andzejevski Co-founder at PayAlly

Fintech sector’s overreliance on chatbots is a mistake

A recent study has found that 73% of consumer banking interactions are now digital, as people and businesses increasingly choose direct banks over more traditional banking institutions. Some of the key reasons for this include a more frictionless experience, a lower defection rate, and crucially – higher customer satisfaction overall. Having said...

/payments /retail

Daniele Casamassima

Daniele Casamassima Chief Executive Officer at Pure.

Comply or Resist: Can Crypto Remain Decentralized Throughout Geopolitical Conflicts?

Russia’s military offensive in Ukraine has led to numerous sanctions from Western countries. 12 days into the conflict, it became the most sanctioned country, which deeply affected its economy and 144 million population. Russian governmental banks were the first financial institutes to be targeted. A few days later, Visa & Mastercard announc...

/markets

Retired Member

Retired Member 

FCA warns UK financial institutions of UBO adherence

Following the start of the Ukrainian crisis, the FCA sent letters to all UK financial institutions, warning them the new Economic Bill will be fast-tracked. This bill includes a new register meaning foreign owners of UK property must declare and verify their identities with Companies House. The aim is to stop overseas criminals and oligarchs from ...

/regulation /crime

Jonathan Wood

Jonathan Wood CEO at C2 Cyber

How to strengthen your supply chain security to comply with new PRA regulation

Banks are on high alert for cyber attacks. The European Central Bank recently told them to prepare for possible Russian-sponsored cyber attacks as tensions with Ukraine increase. This follows a surge in ransomware attacks on banks, which rose 1,318% year on year in the first half of 2021, according to a report by Trend Micro. Further research by...

/security /regulation

Retired Member

Retired Member 

The FCA proposes a New Consumer Duty

Estimated reading time: 4 minutes In May 2021, the FCA published a consultation paper (CP21/13) on a “New Consumer Duty” in an attempt to stop consumers from being provided with misleading information, being provided with unsatisfactory support or buying products that are inappropriate or harmful. In its initial consultation, the FCA highlighted: ...

/regulation /retail

Carolyn Kostelny

Carolyn Kostelny Managing Partner and Chief of Staff at Quorsus

2022: A year of regulatory developments, possible deviations, and certain delays

While 2021 wasn’t the busiest of years in terms of regulatory reporting go-live implementation, important developments did take shape. Among the more important of these developments was the publication of a series of consultation papers and updates to regulatory and/or industry technical specifications, including ESMA’s draft guidelines for report...

/regulation /predictions

Barley Laing

Barley Laing UK Managing Director at Melissa

The Pandora Papers underline the importance of PEP checks

The recent release of the Pandora Papers has shone a light on the sometimes unethical or corrupt practises of the politically connected and the super-rich. For those in financial services the Papers highlight the importance of having access to politically exposed persons (PEPs) data as part of their anti-money laundering (AML) checks. In the UK, ba...

/regulation /identity

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