4354 Results from /regulation
Alexander Boehm Chief Executive Officer at PayRate42
The whistleblowers are considered the unseen guards of an otherwise complicated—sometimes esoteric—world of finance with hardly any accounts of malpractices and illegal rackets. They are the people with courage who work behind the curtain to ensure transparency of operations and integrity of an industry indispensable to the global economic system....
26 August 2024 /regulation /crime
Ben O'Brien Managing Director at Jaywing
The Prudential Regulation Authority (PRA) recently held an IRB wholesale roundtable, introducing new guidelines for firms using or considering the Internal Ratings Based (IRB) approach for wholesale exposures. In this post, we’re delving into the 6 key takeaways: #1. Model risk differentiation: Aligning to the PRA’s expectations To start, the PRA'...
23 August 2024 /regulation
Harriet Christie Chief Operating Officer at Mirrorweb
On June 26th 2024, the Australian Securities and Investments Commission (ASIC) released new guidance on its expectations around business communications. This came in the form of Information Sheet 283 and an accompanying Press Release, and signaled the regulator’s intention to raise compliance standards. This heralds a new era in Australian co
22 August 2024 /regulation /wealth RegTech
The EU’s Markets in Crypto-Assets (MiCA) regulation represents a significant step for crypto regulation, particularly concerning the oversight of stablecoins, such as USDT. As compliance officers, it’s crucial to understand the regulatory landscape under MiCA, the roles of key regulatory bodies such as the European Banking Authority (EBA) and the...
22 August 2024 /regulation /crypto
Nick Green Director at Purple Patch Broking Ltd
Imagine losing $136 million in a single day. That's the harsh reality Citi faced recently, courtesy of US regulators. Why? A key reason was due to poor data and risk management. This eye-watering fine isn't just a Citi problem. It's a wake-up call for the entire financial services industry. This hefty penalty stems from Citi's failure to address lo...
22 August 2024 /regulation /retail Banking
Retired Member
Introduction In the ever-evolving landscape of cybersecurity, a new challenge looms on the horizon: quantum computing. While this technology promises revolutionary advancements in various fields, it also poses a significant threat to our current encryption methods. Enter quantum-safe cryptography, the next frontier in securing our digital world
20 August 2024 /payments /regulation Banking Strategy, Digital and Transformation
No longer operating in isolation, the UK credit market is now impacted by global risk management trends. In recent years, global impacts have changed how credit risk is assessed, managed, and regulated in the UK. It’s affecting credit providers of all sizes, from traditional banks to innovative fintech startups. While this may pose challenges, it ...
20 August 2024 /regulation /retail Banking
John Bertrand MD at Tec 8 Limited
The Financial Times last week reported strong industry resistance to the incoming mandatory reimbursement to bank fraud caused by authorised push payment (APP) fraud. This is understandable as banks since 2015 have not refunded 50% of the reported amounts scammed and now are mandated to refunding 100% of the customers money. A serious recurring an...
19 August 2024 /payments /regulation The future of Payments in Europe
Elaine Mullan Head of Marketing and Business Development at Corlytics
The sale of regulatory technology to financial institutions is often a long and complex process, with multiple stakeholders, as is the norm for enterprise sales. But let’s look at how the principles of behavioural economics can shine a light onto this complex sales environment and perhaps provide some pointers to ease transactions, aka make sales....
12 August 2024 /regulation /people
Susie MacKenzie Head of Legal and Regulatory Analysis at Corlytics
Growing focus on AI regulation The digitisation of society and industry continues to accelerate at an unprecedented rate. AI is opening the door to advances right across society, from healthcare to agriculture. Financial institutions are integrating and exploring AI models across the board, in areas such as cybersecurity, risk management and AML p...
06 August 2024 /ai /regulation
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