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Retired Member
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
Sterling kicked off the first quarter of 2021 on a negative note. Even though it marked the first time in 48 years that Britain was going to trade outside the European Union, warnings of tighter lockdown measures outweighed the Brexit deal. The GBP/USD trading pair fell by 1.85% throughout the week of January 1st to hit a low of $1.3450 ten days l...
02 April 2021
For banking customers, good service now means completing a quick and painless transaction online. The experience of 2020, with branches closed or offering reduced services due to COVID-19 restrictions, has brought this to the fore: a survey by Mastercard showed 87 per cent of people who had never used a banking app before the pandemic would conti
01 April 2021 /retail Banking Strategy, Digital and Transformation
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
There was one major story in fintech during 2020: the collapse of Wirecard. The saga of the scandal-hit company increased the focus on some concerns around fintech generally. Of course, the blame for the collapse lies squarely with Wirecard - but there are lessons to be learned beyond the nefarious behaviour of executives in one company. First...
31 March 2021 Embedded Finance
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
In this current era of uncertainty and unstable global economy, business agility plays an instrumental role in strategic portfolio management and execution of the associated epics. Delivering constant value to customers while embedding the agile mindset in the core operating model, people and culture remains the biggest challenge of many organizat...
29 March 2021 /people
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
There is a dual movement spurring on the adoption of identity security in the financial services sector. Organisations are being ‘pushed’ by the growing threat of cyber-attacks to rethink and reinforce their security approach. At the same time, they are also being ‘pulled’ by the potential benefits of greater operational efficiency and improved co...
26 March 2021 /identity /crime Banking Strategy, Digital and Transformation
Central Bank Digital Currencies (CBDCs for short) are, in simple terms, the digital version of the same fiat currencies that people use in their daily lives.They are becoming an increasingly popular topic, with many governments looking into the development of their own CBDCs. Just recently there has been news of how a new digital dollar prototype...
25 March 2021
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