4231 Results from /regulation
Nick Green Director at Purple Patch Broking Ltd
It’s increasingly difficult to achieve a reliable data set – and that could mean you can’t trust the information shared within your lending organisation. So, what’s the solution? In this blog, we explore how to gain high-quality data for credit risk programs, like AML, without it taking an abundance of your time. Beyond satisfying regulatory gover...
09 April 2021 /regulation /retail Data Management and Governance
6AMLD: A quick look at the data requirements for the 6th Anti-Money Laundering Directive (6AMLD) Anti-Money Laundering (AML) is one of the most intense areas of financial regulation. With the development of money laundering crimes constantly evolving, the steps firms take to prevent these crimes are often insufficient. With the 6th Anti-Money La...
09 April 2021 /regulation /retail Financial Services Regulation
Ian Bessarabia
In January 2021, the Financial Sector Conduct Authority (FSCA) issued a draft declaration intended to give partial effect to some of the recommendations contained in the 2020 Position Paper by declaring crypto-assets a financial product under the FAIS Act. The declaration would affect that any person furnishing advice or rendering intermediary se...
08 April 2021 /regulation /crypto Cryptocurrency Insights
Gary Paulin Global Head of Integrated Trading Solutions at Northern Trust Capital Markets
COVID-19 has prompted investment managers of all sizes to undertake a comprehensive review of their operating models. Market volatility, extreme margin pressure, technological complexity and business resiliency had all been at the forefront of their thinking way ahead of the pandemic, but the virus outbreak caused them to accelerate this process. ...
08 April 2021 /regulation /covid-19 Trends in Financial Services
Retired Member
GDPR fines shot up in 2020 as regulators start to crack down further, but it’s proving to be complicated for both regulators and the regulated. The arrival of GDPR felt like a storm brewing for many organisations. Some companies feared they would be forced to rethink their entire operating models. That hasn’t happened, but the regulations have st...
08 April 2021 /regulation
Maximilian Dyck
Originally posted on https://suade.org/learn/transforming-data-collection-fire-as-a-common-input-layer/ In January 2020, the Bank of England initiated a project entitled ‘transforming data collection’ with the aim to improve data at financial institutions and facilitate regulatory compliance processes. Among the Bank’s key considerations were com...
07 April 2021 /regulation RegTech
It’s a common observation that change is constant and accelerating, and this is certainly true in the regulatory space, and amplified by the disruptions of Covid and Brexit. Significant new regulations (e.g. MiFIR, FinIA, FinSA, AIFMD, and MiFID to name just a few) flow alongside ongoing adjustments, clarifications, and enforcements and add up to ...
05 April 2021 /regulation /crime
Vikas Seth Chief Product Officer at IDnow Gmbh
As per recent report from Wall Street Journal one quarter of 165,000 branches of various banks in Europe will go away in next three years (https://www.wsj.com/articles/european-banks-use-pandemic-to-clean-house-11613298601). In 2020, one of the biggest car rental company closed more than 600 physical locations in Europe and middle east (https://ww...
04 April 2021 /regulation /identity Digital Identity Management
Keith Stonell Managing Director, EMEA at Guidewire
The FCA consultation on fairness in pricing is closed. The industry now knows when they must have new controls, systems, and rules in place by September, and be ready to go live with new price and auto-renewal processes at the end of the year. So, insurers are now firmly on course to ensure pricing for new and existing customers must be the same, ...
01 April 2021 /regulation /predictions Digital Insurance Trends
Two companies, a similar crime and significantly different penalties. Here’s what lessons we can learn from the G4S and Serco cases. Head of the Serious Fraud Office Lisa Osofsky has used a speech at a Society of Corporate Compliance & Ethics conference to show why the SFO will go easier on those firms which have made efforts to cooperate and...
31 March 2021 /regulation /crime
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