230 Results from 2015, /regulation
Retired Member
In most changes the "big picture" is good enough, but the devil is in the detail; that is where the problems come to light. It seems to me that in this case of breaking Greece out of the Euro there are serious problems in the "big picture", ones that will only compound in the detail. The big question is how one draws a line aro...
12 February 2015 /regulation
We live in interesting times For any change professional in financial services the relentless onslaught of regulatory change is a challenge. Of course, regulatory change is not a new thing, but the pace, scale, reach, complexity and uncertainty surrounding it has been unprecedented in recent years. The biggest self-deceit that many firms commit is...
11 February 2015 /regulation
In response to the financial crisis of 2008 many of the worst affected banks adopted a “Good Bank, Bad Bank” strategy. In this they hived off their most toxic assets into what was referred to as the Bad Bank, leaving the cream (most profitable?) of their business in an entity referred to as the Good Bank. With this the Bad Bank and the troubles re...
Third-party due diligence is an obligation facing financial services when on-boarding and maintaining any supplier, agent, consultant, distributor or service provider to ensure they continue to comply with relevant regulations and consumer laws, protect confidential information, avoid unethical practices, protect data against identity theft, and m...
10 February 2015 /security /regulation
Prasenjit Das Senior Director at Virtusa
The Federal Reserve delayed by two years compliance with the Volcker rule that bans them from betting with their own money through investments in risky hedge and private equity funds. However the delay did not affect the ban on proprietary trading, which Banks’ must stop by July 21, 2015. Acting under the provisions contained in section 619
10 February 2015 /regulation
The 2015 BIS progress report around BCBS 239 throws up some significant compliance gaps. There is much within the report to discuss. One of the primary goals of these principles was to address was a bank’s ability to access the right data at the right time and get it to the right people. The 2008 crisis made it clear that this wasn’t either doable...
Governments around the world are stepping up the fight against tax evasion. Previously, they were content to send requests to one another when they wanted information about the offshore accounts of their citizens. However, there is now a growing consensus that countries should automatically share this information with one another in a process that...
10 February 2015 /regulation /wholesale
Steve D'Souza Business Development at Iress
Conduct Risk- Boring? Just another FCA fad? The concept of ‘conduct risk’ was first aired in 2011 in the then Financial Services Authority’s Retail Conduct Outlook. It was described there as “the risk that firm behaviour will result in poor outcomes for customers”. More recently, the 2013 FCA Retail Conduct Outlook discussed the concept at great l...
09 February 2015 /regulation /retail
Abhishek Chatterjee Managing Partner at Gartner Inc.
If we think carefully, Data supply chain starts from data creation and ends when value added services or product is created from raw data. This largely happens as it transfers hands & get enriched through interaction with customer, business, Operations, and IT. Ever maturing digital world is creating challenges for organizations due to high ve...
08 February 2015 /regulation Financial Services Regulation
Automating enterprise stress testing, like other complex IT undertakings, doesn’t lend itself very well to a “big bang” approach. The implementation of any IT solution to address a comprehensive regulatory mandate such as CCAR, DFAST or EBA Stress Testing all at once can be inherently risky, time consuming and very expensive. With regulators lase...
06 February 2015 /regulation
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