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4481 Results from /regulation

Retired Member

Retired Member 

Open Banking will force banks to innovate to survive

As the first banks start implementing Open Banking, much of the talk in the industry is about how banks will manage security issues to become compliant. Whilst security is clearly an issue, I don’t believe that it is the biggest issue at hand. Banks are experts at dealing with security issues and managing risk. The real issue banks face is the pos...

/regulation /retail Banking Regulations

Retired Member

Retired Member 

Examining Beneficial Ownership Register Adoption in APAC

The Financial Action Task Force (FATF) regards access to accurate information regarding beneficial ownership as critical to the effective deterrence of criminal activities that could be obscured by corporate structures. In 2014, FATF published a guidance paper, ‘Transparency and Beneficial Ownership’, aimed at assisting countries in implementing me...

/regulation Banking Regulations

Freddie McMahon

Freddie McMahon Director Strategy and Innovation at DF2020 Ltd

GDPR is becoming a bigger problem for USA firms

There is a very interesting issue related to GDPR that has emerged from the USA. Very simply, USA firms that adhere to GDPR, but do not apply at least the same level of consent to its domestic customers may be acting illegally. The implications are staggering. The rationality for this argument is that there is a USA law related to “national origin ...

/ai /regulation Banking Regulations

Myles Milston

Myles Milston Global Head of Distribution Solutions at Apex Group

Why crypto must comply or die

Inadequate oversight can create industry crises — an effect we are starting to see in crypto. Over the last year, tokens have been at the centre of multiple global hacks and large-scale fraud - such as the theft of $400 million in Coincheck tokens, the Parity coding error that froze over 513,776 ETH, the PlexCoin ICO which saw the SEC freeze $15...

/regulation Blockchain Observations

Retired Member

Retired Member 

How process mining can turbo-charge internal auditing

For years, auditors have used interviews and workshops to conduct successful company assessments. As more businesses become digitised, auditors need to blend traditional techniques with a more data-led approach. In the face of higher expectations for accuracy, internal departments need to take note: big data is changing the way organisations opera...

/regulation Internal Auditors in Financial Services

Retired Member

Retired Member 

How Lenders Are Already Using Open Banking

What is Open Banking? Starting January 13th, the largest UK banks began the process of allowing their customers to request transaction data be shared with third parties. Barclays, HSBC, Lloyds, Bank of Scotland, Halifax, Nationwide, RBS, NatWest, Santander, Danske, AIB, First Trust, and Bank of Ireland have given control of current account tran

/regulation Open Banking

Retired Member

Retired Member 

GDPR in Context: 10 Data Subject Rights

GDPR introduces ten new rights to data subjects. Chapter III of GDPR, Section 1 provides for some of the transparency requirements placed upon data controllers as they communicate with data subjects. It explicitly refers to several Articles 13 – 22 and Article 34. In plain English, that means: The controller has to provide certain information to ...

/regulation Banking Regulations

Keith Stonell

Keith Stonell Managing Director, EMEA at Guidewire

GDPR - and the importance of insurance customer trust.

GDPR implementation is now weeks away. The impact that GDPR will have on the insurance industry has been well documented. Indeed, I’ve previously commented on it here. Some of the concerns that have been voiced look well founded; for example, a stampede of consumers flexing their muscles on data privacy. Recent research suggests that two in five

/regulation Data Protection Act Issues

Ivy Schmerken

Ivy Schmerken Editorial Director at FlexTrade Systems

SEC Steers Pilot on Equity Trading Fees and Rebates Amid Headwinds

Diving into one of the more controversial issues in equity market structure, U.S. regulators are moving forward with the transaction-fee pilot that will force stock exchanges to lower the fee caps on rebates they pay to brokers and market makers. “I think the SEC is about to embark upon a productive time for assessing market structure reforms,” sai...

/regulation Financial Services Regulation

Iosif Itkin

Iosif Itkin CEO at Exactpro

Large Scale Infrastructure Intervention and Fake Testing

In a nutshell, the job that we do comes down to infiltrating large financial market infrastructures with specially designed tools to influence the outcome of the software development life cycle. We have been implementing this strategy across the globe for nearly 9 years. But even in the most critical, robust and reliable large infrastructures, the...

/regulation Operational Risk Management

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