4138 Results from /regulation
Jeremy Light Co-founder at Fourdotzero
The measures in the PSD2 (and in the UK, the CMA banking remedies) to open up consumer banking data to third parties will undoubtedly lead to new innovations and consumer benefits, but I see three challenges: 1) a potential gap between expectations on using open banking consumer data, and the reality of what is actually allowed 2) public understand...
23 January 2017 /payments /regulation
Retired Member
Liquidation Only. Did your heart skip a beat? In futures and options trading when we hear “Liquidation Only” it means that something went wrong. Someone is losing money. The broker wants all new investments to stop. In the world of electronic trading with direct access through software there is no longer someone thinking about the client and the br...
21 January 2017 /regulation Capital Markets Technology
Banks are struggling with email. It’s no longer an immediate form of communication, for most of us it’s a massive headache, and most importantly it’s risky. It’s too easy to send something from the wrong email address, or to the wrong person. Content can be leaked, or end up in the public domain. (Just ask Hilary Clinton, Michael Gove, or the Krem...
20 January 2017 /security /regulation
GDPR might give people the right to be forgotten, but finding them, understanding the context of their conversations, and figuring out if they really can be deleted while still complying with other regulatory and legal obligations such as MiFID II is a quandary many organisations are going to remember for some time. One of the problems is the way ...
19 January 2017 /regulation
It's difficult to argue against any sensible form of regulation that ultimately makes the financial markets fairer and safer for all participants, but implementing and complying with all the new rules that apply across our industry is, undeniably, a very costly business. So when President-elect Trump's newly sworn-in, eager-to-please United State...
This month marks the second anniversary of the deadly attacks in Paris, when terrorists Said and Cherif Kouachi attacked the Charlie Hebdo satirical magazine on January 7, 2015 and when Amedy Coulibaly, a friend of the Kouachi brothers gunned down innocent grocery shoppers and held 15 others hostage in the Hyper Cacher attack. Together, the three ...
17 January 2017 /payments /regulation
Late in 2016 The Financial Conduct Authority (FCA) announced the first group participating in its regulatory sandbox. The initiative is the first of its kind globally and has sparked a series of worldwide regulatory bodies to follow suit. The sandbox allows innovative firms to work with the regulator to test their products in a live environment, p...
16 January 2017 /regulation
Anti-Money Laundering (AML) and transaction monitoring processes are becoming usual practices in today’s financial environment due to the increasing enforcement of more and more regulations. In recent news there have been a number of international tier I and tier II banks that received large fines due to: AML violations, lack of sufficient scrutin...
I have never been as torn about the future prospects of banking as I am now. Even during the Icelandic financial crisis of 2008, my mind was not as close to blowing up as it is today. I am scared that people will need banking but not banks. I am not only scared. I am also excited about the opportunities of the drastic changes ahead, the importance ...
15 January 2017 /regulation /retail
Before you say "that is a crazy idea", stop and think. It sounded crazy to me as well but after some thinking I have concluded that it has merits. Here's why. First, let's check the state of technology advancements. Real time networks provide central banks the ability to settle mass market retail transactions in real time (not just the
13 January 2017 /regulation
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