Mark Demo Head of Community Development at AcadiaSoft
Today, the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) recommended that prudential regulators add a sixth phase to the global regulatory initial margin (IM) rollout. BCBS and IOSCO are recommending to split the current Phase 5 gross notional threshold as follows: IM Phase 5 g...
23 July 2019 /regulation Financial Services Regulation
Dmitrii Barbasura Chief Operating Officer at Fintech Galaxy
This is the second piece from a series of articles about non-dedicated PSD2 interfaces. While the first article lists the requirements imposed upon PSD2 interfaces and how banks can implement these, the second article covers the challenges of launching and maintaining a non-dedicated interface. In regards to technical requirements, there is no muc...
23 July 2019 /regulation Banking Strategy, Digital and Transformation
Steve Dourdil Business Development at Kerv Collaborate
The Need for Effective, Holistic Compliance Monitoring and Surveillance In a perfect world, financial regulators would exist solely to define the policies and procedures needed to protect consumers, with compliance departments acting in a purely advisory role to help firms apply these principles according to their own unique requirements and str
19 July 2019 /regulation /crime Financial Risk Management
Retired Member
Open banking is now a much talked about topic in Australia. Brought in to create a more competitive financial ecosystem, it aims to deliver products, services, and experiences that customers will keep wanting more of. Although delays have taken place, by July 2020, all banks in Australia are expected to have their data opened up via APIs. Banks li...
19 July 2019 /regulation Open Banking
It’s very clear that money laundering is well and truly on the rise. Although it’s pretty much impossible to pinpoint exact figures, government officials estimate that between $800 billion and $2 trillion cash is laundered globally, every year. That’s a staggering 2- 5% of global GDP annually. That’s an amount which looks set to rise with criminal...
16 July 2019 /regulation Digital Identity Management
Open Banking has grown overnight. It started with the PSD2 regulation for Europe in 2018. Open banking is now adopted in Australia, several parts of Asia, Latin America and many other regions. Here are a few facts to understand what Open Banking is and why you should consider building a strategy around it. What is open banking and why was it create...
15 July 2019 /regulation Open Banking
Ivy Schmerken Editorial Director at FlexTrade Systems
Eighteen months after MiFID II rules to unbundle research payments from executions have been in force in Europe, U.S. asset managers are dealing with uncertainty around paying for research and how to compete with global firms that adopt the EU rules. Many US asset managers are evaluating the need for increased transparency in their own research pay...
15 July 2019 /regulation MiFID
Mete Feridun Chair at EMU Centre for Financial Regulation and Risk
Bank Recovery and Resolution Directive (BRRD), one of the components of the EU Banking Package, which was published in the Official Journal of the EU on 7 June 2018 will need to be transposed into EU Member State national legislations by 28 December 2020. The key rule introduced under the BRRD is the requirement for the EU banks to meet a minimum r...
14 July 2019 /regulation Banking Regulations
Many people, including myself, are becoming more interested in what’s going on in African banking and fintech. Investors and infrastructure founders such as Dana Buys, Mzi Khumalo, and Dr Segun Aina have certainly played a role in turning attention towards this vibrant, exciting continent. But while we are focused on the opportunities and innova...
11 July 2019 /security /regulation Information Security
Freddie McMahon Director Strategy and Innovation at DF2020 Ltd
Data is the enabler for any digital strategy. Organizations need timely and accurate data from human interactions. This is an imperative for sensing early and responding quickly to ever changing circumstances. We all collect data from customers, employees and suppliers using forms, checklists and surveys. This data must be of high quality otherwise...
11 July 2019 /ai /regulation Banking Strategy, Digital and Transformation
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