4366 Results from /regulation
Michael Chambers Director | Head of Prudential at Wheelhouse Advisors
Yesterday, the UK arm of a large international banking group was fined £44 million for prolonged and pervasive shortcomings in its internal controls and governance arrangements around capital and liquidity adequacy and regulatory reporting. The record fine highlights the importance of regulated firms designing, implementing and operating appropria...
29 November 2019 /regulation /retail Financial Services Regulation
With calendar year end right around the corner, now is a good time to think ahead about the annual review of your firm’s prudential governance arrangements. It’s a good time to sit down with a cup of coffee and reflect on the FCA’s consultation paper (or “CP”) from earlier this year; ‘Consultation 19/20: Our framework: assessing adequate financial...
29 November 2019 /regulation Financial Services Regulation
Shirish Netke President at Amberoon
As more banks make headlines through failing to effectively monitor and report on money-laundering activity, we need to rethink the AML problem and the roadblocks to solving it. To restate the problem, we have $2T laundered through the banking system every year. About $25B is intercepted by law enforcement and $70B is spent by banks on AML. And yet...
28 November 2019 /regulation Artificial Intelligence and Financial Services
Prasoon Mukherjee Director | Head of Securities Services | GSC-India at Societe Generale Bank
Introduction: A background of accounting and auditing mis-governance, that’s hard to ignore: With sheer increase in the number of accounting scams that the industries have witnessed since early 2000, I have had this inner urge to bring this subject for more intensive debate. The last to hit a similar cord, is the recent issue of a whistle-blower, ...
26 November 2019 /regulation Internal Auditors in Financial Services
Pete McIntyre Financial Services Director at Planixs
I’ve just come back from a week in New York and it was great to understand the latest thinking and progress on intraday liquidity in the US and Canada. As well as meeting up with industry colleagues across the city, I was chairing and presenting at a conference - Automation & Real-Time Treasury in Financial Institutions - which was very succes...
25 November 2019 /regulation Treasury Management
Konstantin Rabin Head of Marketing at Kontomatik
China has now publicly voiced its desire to be the leading country in financial technology development and adoption. The president of the republic openly called for the promotion of blockchain technology across the nation and proceeded to block all the negative opinions about blockchain throughout the Chinese cyberspace. But now the Chinese govern...
22 November 2019 /regulation /inclusion Fintech
The European Securities and Markets Authority has introduced a new system that will classify Third Country Central Counterparties according to tiers. The tiers will be assigned to the CCPs according to their roles with a member state. What this means is that if, for example, South Africa continues its crucial fruit trade with the Netherlands, it w...
15 November 2019 /regulation /inclusion MiFID
Retired Member
Regulation in financial services is, of course, a fact of life. The period since the financial crisis has seen governments, central banks and regulators heap unprecedented attention upon the financial sector with the intention to make markets safer, more transparent and more competitive. This has resulted in swathes of regulation. A recent survey...
15 November 2019 /regulation
Kenya just took a big step towards its tech development. On November 8th Kenyan president, Uhuru Kenyatta approved a data protection law that complies with European Union legal standards. This will finally allow Kenya to embrace its full potential when it comes to tech innovations and startups and to attract more investments in its information tec...
14 November 2019 /regulation Financial Inclusion
John Cant Managing Director at MPI Europe Ltd
I attended the Substantive Research Unbundling Uncovered MiFID research conference this week. The panels at this event were made up of a mix of market participants and vendors. The mix made for some entertaining exchanges between brokers and investment managers on the true value of research. One broker opined that some asset managers may feel that...
13 November 2019 /regulation MiFID
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