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Banking Regulations

Discussion around current trends in regulations for banks globally

Barley Laing

Barley Laing UK Managing Director at Melissa

Are you ready for 6AMLD?

Already in effect in EU member states since 3 December 2020, financial institutions must implement the Sixth Anti-Money Laundering Directive (6AMLD) by 3 June 2021. While it requires less changes than previous anti-money laundering directives, 6AMLD brings clarity to specific regulatory details to close loopholes, toughen penalties, and encourage g...

/regulation /identity

Matt Beattie

Matt Beattie Managing Director at Beyond

Implementing a remediation programme: Critical success factors

As financial institutions move to integrate, automate and streamline their systems (all in the face of a toughening regulatory environment), process flows and the underlying data points are coming under increasing scrutiny. As such, customer and operational remediations continue to be a common occurrence. Despite this many remediation efforts have...

/regulation /wholesale

Andreas Hobbelin

Andreas Hobbelin Head of AML & FCP at ZTL PAYMENT SOLUTION

Anti-money laundering - Statements that echo's over 10 years after

Over 10 years ago, one statement got international attention, another statement didn’t even get national attention. Still both statements echo’s today, although differently. The then Head of United Nations on Drugs and Crime (UNODC), Antonio Maria Costa said the following based on that UNODC had found evidence that some banks were funded by illicit...

/regulation /crime

Alistair Catto

Alistair Catto Managing Director at Beyond

Meeting the requirements of AML 5 and 6

Recent analysis conducted by LexisNexis highlighted that many financial institutions are struggling to complete their implementation plans for the Fifth Anti-Money Laundering Directive (5AMLD). Even more troubling was that many of those surveyed were not even aware of its key purpose. So what activities should banks be focusing on to ensure their ...

/regulation /crime

Richard Blore

Richard Blore Chief Executive Officer, KY3P, IHS Markit at IHS Markit

A Renewed Focus on Outsourcing and Third-Party Risk from the Financial Stability Board

Those of us who work in financial services are keenly aware that third-party risk management (TPRM) continues to be a key area of focus for global financial services regulators. Recently, we have seen consultations from the Bank of England and the International Organization of Securities Commissions (IOSCO) as well as a legislative proposal from t...

/security /regulation

Retired Member

Retired Member 

Six solution considerations to accelerate ISO20022 based Payments

ISO20022, also known as the universal financial industry message scheme, is the platform proposed by the International Organization for Standardization (ISO) to develop all financial messages. It is not a suite of message standards, but a recipe to develop message standards for all domains in the financial industry. The main ingredients being synt...

/payments /regulation

Joris Lochy

Joris Lochy Product Manager at Intix | Co-founder at Capilever

Getting licensed - A business in itself

With regulators worldwide becoming more and more demanding and processes to get licensed becoming more and more costly and complex, obtaining a license from a regulatory authority has become a full business in its own. Not only are there (lawyer) firms (such as FLA = Financial Licensing Advisors, Simont Braun, Four & Five…​) specialized in comp...

/regulation

Joris Lochy

Joris Lochy Product Manager at Intix | Co-founder at Capilever

How too much compliance might actually increase the risk of financial service companies?

Following the financial crisis, bank control authorities (like the FCA in the UK or the FSMA in Belgium) and compliance departments within banks have grown exponentially. As a result, regulatory costs have also increased dramatically relative to banks’ earnings. At first sight, this seems indeed the correct reaction, to better control and monitor ...

/regulation

Retired Member

Retired Member 

No time for downtime in financial services

No enterprise has ever wanted unplanned downtime of their services; and that is especially true in the financial services industry. Over the last two years, there have been multiple banking system failures in the UK market that have hit the headlines. Some have been that major that they have actually seen customers actively switching to competit...

/security /regulation

Adrian Sargent

Adrian Sargent Founder and Managing Director at ESG Treasury Ltd

Bank Capital Requirements for Climate Change

All you may have already seen the Finextra article with reference to Green RWA Asssocation, the theory ids bansk need to hold capital for all risks, therefore our paper proposes a methodology to allocate captial for climate change risks. Read the article here: https://www.finextra.com/newsarticle/36527/maths-for-esg-how-one-calculation-could-ign...

/regulation /sustainable

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