4460 Results from /regulation
Retired Member
The average tier one investment bank today is dealing with a very complex trade processing infrastructure. You’d expect the infrastructure to resemble a high speed rail line fully optimised to deliver trades from execution venue to settlement in the shortest possible time. The reality is that most banks are dealing with multiple branch lines, sid...
17 June 2013 /regulation
Anne Plested Regulation at ION Markets
Hurrah! Looks like the Council of the EU has finally agreed a common approach on MiFID II/MiFIR after 18 months of negotiations. Subject to EU formalities next week, yesterday’s agreement comes just two weeks before Ireland hands the Council presidency on to Lithuania. The trilogue process – European Commission vs European Parliament vs Council ve...
14 June 2013 /regulation
It’s a slow train, but it’s moving on. This line from a great old song by the Staples Singers feels very applicable not just to life, but also to the Foreign Account Tax Compliance Act (FATCA). After what feels like ages of drafting and delaying the regulations, the first real implementation deadlines are now right around the corner. To meet the n...
I remember an old spy book from the 1960s that said “if you notice someone once, it’s chance; if you notice them twice, it’s a coincidence; but if you notice them three times, they’re following you”. So, remembering that type of “pattern recognition”, when I was in New York last week I was interested to come across two situations where major fina...
13 June 2013 /security /regulation
The recently proposed cap on European dark trading has caused quite a stir. It also illustrates how MiFID II policy-making has descended into almost Eurovision song contest levels of farce. The basic idea is to put a cap (currently proposed at 8%) on the level of trading that occurs away from lit markets. The rationale for this is to protect the re...
13 June 2013 /regulation
Bernd Richter SVP - FIS Impact Ventures at FIS
Recovery and resolution planning (RRP) - yet more valuable resource diverted to compliance? Or can it be a source of deep structural understanding and competitive differentiation? To date, some 39 separate financial institutions have been the subject of EBA stipulations to comply and provide an RRP by the end of the year. With first deadlines loom...
Paper turn-off-still a challenge Getting customers to turn off paper is proving to be more difficult than anticipated. Online banking has evolved tremendously from RBS' Homelink in 1983 to what is now a techno frenzy of IB and apps. However, the idea of managing all your money online has still only convinced an average of 24% of people across FS ...
Nahum Goldmann Partner at BelPay.be
http://money.cnn.com/2013/06/11/news/world/bank-error-napping/index.html Speaking of transaction banking and exception management, a bank clerk nodded off for a second while processing a transfer request and held down the number 2 on his keyboard, changing the amount from 62.40 Euros to 222, 222, 222.22 Euros, according to testimony before a Germa...
13 June 2013 /payments /regulation Transaction Banking
MiFID, the mother of all European financial regulation, rumbles on and on. The European Commission’s MiFID IIconsultation in 2011, the Ferber Report in March 2012, and the European Parliament vote in October 2012 were all highly anticipated and widely reported on. But despite the fact that the Council of Ministers has published more than 20 differ...
10 June 2013 /regulation /wholesale
Equilibrium of front office efficiency and control is important to avoid risks and losses. But the raison d’être of portfolio managers and traders alike is ultimately to grow assets and make money for the firm. How can front-office staff be effectively supported in this quest while keeping regulators satisfied and being compliant? The truth is tha...
07 June 2013 /regulation
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