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Discussion around current trends in regulations for banks globally
On the same day that the prosecution rested its case against Paul Manafort, the U.S. Attorney’s office in Tucson, AZ got a seven-year sentence against a fraudster for a money-laundering scheme; a for...
In November 2016, the Bank of England (BoE) published the results of its 2016 banking stress tests which measured the resilience of UK’s major banks’ balance sheet in adverse scenarios. These incorpor...
CECL vs. CCAR: A Significant Change in the Banking Industry In an effort to reinforce the financial system, The FASB (Financial Accounting Standard Board) releases new regulations and policies from ...
In conversation with Marika Lulay we discuss top 5 trends in Fintech and Banking Industry 1.Industry 4.0 — I strongly believe that there is a paradigm shift in the way IT systems will be built and run...
Background AnaCredit (analytical credit dataset) is a three-stage project that was launched by the European Central Bank (ECB). In April 2014, ECB had announced the establishment of a central credit r...
Big fine but no time – CBA receives largest corporate fine in Australian history What is the cost of breaching AML/CFT regulations 53,750 times? According to AUSTRAC it is AUD$700 million, which was t...
As the first banks start implementing Open Banking, much of the talk in the industry is about how banks will manage security issues to become compliant. Whilst security is clearly an issue, I don’t be...
The Financial Action Task Force (FATF) regards access to accurate information regarding beneficial ownership as critical to the effective deterrence of criminal activities that could be obscured by co...
Qualifying applicants under the UK Financial Conduct Authority's Senior Managers Regime must complete a lengthy form and, in certain circumstances, provide full explanatory information. A candidate mu...
There is a very interesting issue related to GDPR that has emerged from the USA. Very simply, USA firms that adhere to GDPR, but do not apply at least the same level of consent to its domestic custome...
GDPR introduces ten new rights to data subjects. Chapter III of GDPR, Section 1 provides for some of the transparency requirements placed upon data controllers as they communicate with data subjects. ...
10 years after the last financial crisis, a new upheaval in banking It’s been 10 years since the global financial crisis, considered by many to be the worst since the great depression. New regulation...