4462 Results from /regulation
Retired Member
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
Piyush Srivastava President & Chief Operating Officer at RiskCounts LLC
FRTB can be summarized in three lines as follows: - Close the loop hole of Capital Arbitrage between the Trading and the Banking books - Calculate the Capital as if the banks are in Stressed Market Conditions - Calculate Capital using the Standardized Approach, even though Trading desks calculate the Capital Charge using ...
12 January 2017 /regulation
Steve Wilcockson Technical Product Marketing at Quantexa
In December, I attended the Amsterdam RiskMinds Conference, which highlighted current priorities of Chief Risk Officers [CROs] and risk professionals. Having reflected over Christmas sherry and Mariah Carey New Year PR disasters, I consider 7 key CRO and risk priorities. Do you agree ? Post your comments below. i) Be “Chief Worrier” The modern Chi...
12 January 2017 /regulation /wholesale
Martijn Groot VP Product Management at Asset Control
At the centre of financial services risk management and regulatory compliance is the convergence of data from a huge range of information silos, departments, product lines, customers and risk categories. Risk and finance are at the end of an extensive chain, examining the consolidated threads, uncovering issues and spotting patterns. This is where...
11 January 2017 /regulation Financial Services Regulation
Jeremy Light Co-founder at Fourdotzero
Card-not-present (CNP) fraud is a big problem and is getting worse. It is possible its severity and the way it is outpacing ecommerce growth have influenced the drafting of the PSD2 and EBA RTS and defining the required levels of customer authentication and exemptions. Indeed, I attended an event recently where CNP fraud statistics were used to em...
10 January 2017 /payments /regulation
Remember those days when we saw Lehman employees walking out with their personal stuff in cardboard boxes, the manhandling of AIG employees in New York, the demonstrations at Wall Street and Zuccotti Park (New York), and the $ 1 trillion bailout fund that the Congress initially refused to approve? Yes, to avoid similar situations, the BIS (Basel C...
09 January 2017 /regulation /inclusion
Nanda Kumar CEO at SunTec Business Solutions
Last year has been a rocky year for banks and financial markets. 2016 was a year of major fluctuations, driven by political changes across the world. The markets have reflected these turbulent times, with the greatest number of fluctuations the market has seen in 50 years. Banks have to mitigate these risks and adapt to new market changes. Banks h...
09 January 2017 /regulation
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