Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

Martijn Groot VP Product Management at Asset Control

The Regulatory Web of Complexity

At the centre of financial services risk management and regulatory compliance is the convergence of data from a huge range of information silos, departments, product lines, customers and risk categories. Risk and finance are at the end of an extensive chain, examining the consolidated threads, uncovering issues and spotting patterns. This is where...

11 January 2017 /regulation

Retired Member 

Could RegTech save the banking industry?

RegTech alone will not save the banking industry. It must embrace digital and work out the supply chain disruption that #FinTech has created. However with profit margins continuing to shrink, regulations continuing to add further complexity on an already muddled landscape. Automation of process using technology, innovative use of technology to red...

30 December 2016 /regulation /wholesale

Retired Member 

FATF’s AML Evaluation of the US: Will it Drive More Regulatory Changes?

On December 1, 2016 the Financial Action Task Force (FATF) released its Mutual Evaluation Report of the US Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) Measures. While the report was generally favorable, it did point out a few areas that need to be improved – some of which could be catalysts for new changes in US policy. As we...

12 December 2016 /regulation

Henry Hilska Managing Principal at Convexity Solutions

KYC: Solving the Regulatory Challenges of Data Privacy

Data Privacy regulations increase challenges for bank KYC and AML programs Financial services organizations are under increasing pressure from regulators to focus on KYC and client due diligence. This pressure is exhibited in the form of fines and penalties that have been levied upon numerous banks and other organizations for lax procedures. Due...

02 December 2016 /regulation /retail

Retired Member 

The Bank of England - SONIA Reforms

The Bank of England (BoE) has recently published a consultation paper on reforming the Sterling Overnight Index Average (SONIA) benchmark. It had conducted a similar exercise, albeit exploratory, as a public consultation in Q3-Q4 of 2015 with the objective of monitoring the sterling overnight money market and reforming the SONIA benchmark. The out...

08 November 2016 /regulation

Retired Member 

CFTC’s Issuance of Foreign Boards of Trade Permits

The CFTC announced on October 31st, 2016 that they issued Orders of Registration to the following Foreign Boards of Trade (FBOT): Eurex CME Europe Limited ICE Futures Europe The London Metal Exchange London Stock Exchange We congratulate these exchanges on their newly acquired Orders of Registration. These Orders of Registration will allow...

01 November 2016 /regulation

Stuart Lacey Founder at Trunomi

Brexit Notwithstanding: GDPR Means GDPR

Last week I joined attendees at CtrlShift’s Personal Information Economy event, where Elizabeth Denham, the UK’s new Information Commissioner, gave her inaugural speech. Denham’s overriding message is critical for businesses: the EU’s General Data Protection Regulation (GDPR) will still apply to the UK post-Brexit. Denham made it clear that UK dat...

07 October 2016 /regulation

Abhishek Chatterjee Managing Partner at Gartner Inc.

SIBOS 2016 - Protect customer, reduce risk and simplify core

Last year SIBOS was an inflection point for transaction bankers and FinTech, but this year in Geneva we saw a very measured response to key Industry challenges faced across the globe, starting from Cyber Security, Compliance to Robotic Advising, Industry Utilities, E2E Payment Traceability & interoperability and Blockchain. The opening Plenary...

05 October 2016 /regulation /sibos

Retired Member 

Leveraging Digital Identity Verification to Stay On Top of New AML Regulations

Coping with the rapid pace at which new Anti-Money Laundering (AML) regulations are enacted poses quite a challenge to enterprises worldwide. If you take the case of financial institutions, this entails a dual test, as banks and other financial services providers not only need to comply with an increasing number of AML and Know Your Customer (KYC)...

15 September 2016 /regulation

Retired Member 

EU Benchmarks Regulation: Benchmarks Continuity and Market Protection through Article 23

“…necessary to include a power for the relevant competent authority to require mandatory contributions from supervised entities to critical benchmarks in order to preserve the credibility of the benchmark in question.” The systemic importance of financial benchmarks in the global financial structures cannot be emphasised enough. Considered as criti...

02 September 2016 /regulation