4231 Results from /regulation
Retired Member
On Friday the Bank of England’s Financial Policy Committee (FPC) published their latest policy summary and record. As part of the summary, they shared an update on the plans for the next “cyber stress test”. For those that aren’t aware, back in 2017, the FPC set out the elements of the framework of regulation to strengthen the resilience of t...
30 March 2021 /security /regulation
Five years on from its birth and a year after it was rolled out to solo-regulated firms, what impact has the Senior Managers’ Certification Regime had? SMCR was intended to improve behaviour and personal accountability in the financial sector. Is it achieving its goals? Enforcement SMCR has led to only one enforcement action so far. A freedom of...
29 March 2021 /regulation
Maximilian Dyck
Automation technology has changed the world in more ways than one. Smart phones can recommend music choices based on listening patterns, while self-driving cars are becoming reality. Better automation can also significantly transform supervision and regulatory reporting at financial institutions. With the regulatory burden increasing, new technolo...
26 March 2021 /regulation Financial Services Regulation
Tom Greenwood Founder & CEO at Volt
Whatever side you were on in the Brexit debate, it’s hard to imagine any merchant welcoming reports of the card schemes quintupling fees for cross-border payments between the UK and EU. No longer constrained by the EU’s cap on interchange fees, Visa and Mastercard plan to increase their interchange to 150 basis points (bps) for credit card, and 115...
26 March 2021 /payments /regulation Open Banking
Anne Plested Regulation at ION Markets
The review of MiFID/MiFIR is now well underway following the regulations’ 2-year anniversary in 2020. In their most recent consultation paper ESMA, the European securities and markets authority, was keen to hear from trading venues and investment firms engaged in algorithmic and high-frequency trading. Consulting on the efficiencies of the existin...
25 March 2021 /regulation /markets
Alistair Catto Managing Director at Beyond
I recently co-hosted an industry workshop with Arachnys, a KYC and AML data specialist, exploring the potential benefits and challenges associated with adopting Perpetual KYC. Limited to just 20 participants, we were joined by representatives from several leading banks and asset managers including, Goldman Sachs, Investec, HSBC, Morgan Stanley and...
23 March 2021 /regulation /crime Financial Risk Management
Jagdish Udayakumar Head of New Business at FIS
The Covid crisis has been challenging one for all of us, it has presented with opportunities for both good and bad. The pandemic provided the necessary impetus to drive the Digitalisation agenda within the banking sector, at the same time such a transformational agenda has helped criminals to benefit greatly. The business were directly impacted du...
18 March 2021 /regulation /crime Financial Risk Management
Sean Salloux CEO at Sentinel Digital
E-commerce and online marketplaces are very much here to stay and they’re growing, fast. However, their success often depends on having an effective payments infrastructure. Taking your business global isn’t as straightforward as setting up an e-commerce site and waiting for orders to come in. To accept payments, you must be compliant with regiona...
17 March 2021 /payments /regulation Fintech
Vincent Choi CEO and founder at Pomelo Pay
The UK is finally keeping up on contactless payments. Despite London being a world capital for financial technology, Britain has lagged other nations when it comes to some key elements of frictionless consumer finance. Even the increased limit of £45 for a single contactless payment, which was introduced in April 2020 after the pandemic hit, was lo...
15 March 2021 /payments /regulation
I recently reviewed one of the best books written on AI to date, AI Super-Powers, where a brief history of AI is explored across the four waves of evolution experienced over the last few decades. From chess-playing, payments, making friendships, medical diagnoses, and help with investing money, AI continues to play a much broader role across many ...
12 March 2021 /regulation /retail
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