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Barbara Matthews

Crypto Data From Asia -- OECD Report Signals Expanding Regulatory Perimeter

This morning, while evaluating official activity over the last 24 hours globally regarding cryptocurrency and FinTech regulation, this speech in Malaysia caught our attention. The speech highlighted ...

11 Dec 2019
Digital Asset Class (DAC)
Ivy Schmerken

Revised SEC Rule 606 Shines the Light on Order Routing Disclosures

Change is brewing in the way that sell-side order routing data is reported to institutional customers. Broker-dealers will begin collecting vast amounts of data on January 1st for compliance with the ...

10 Dec 2019
Capital Markets Technology
Brian Costello

Creating a rich financial future for all

A US financial regulator opened an investigation last month into claims that Apple's credit card offered different credit limits for men and women. Steve Wozniak, the co-founder of Apple tweeted tha...

10 Dec 2019
Banking Regulations
Rolf Hauge

Ready for SWIFT Releases 2020 and 2021?

Following the relatively straightforward implementation of SWIFT Release 2019 this November, are you ready for the more complex requirements of SWIFT Releases 2020 and 2021? Here I’ll summarise what’...

05 Dec 2019
SWIFT Matters
Zac Cohen

Treat 6AMLD as an Opportunity to Excel

All over the world, Anti-Money Laundering (AML) compliance regimes are undergoing sweeping changes, as a result of shifting economic sanctions, new Ultimate Beneficial Owner (UBO), data-reporting dema...

04 Dec 2019
Alex Golbin

Due Diligence 2.O: How Vendor Risk Assessment Will Evolve

Increasing focus on vendor due diligence has put significant pressure on financial institutions and vendors alike. The challenge comes into focus when we think about the macro implications. There ar...

02 Dec 2019
Business Knowledge for IT
Mark Gibson

AML-CTF Failures can Kill Banks and Careers

Westpac Bank in Australia is facing one of its gravest crises from systemic AML/CTF failures over a 5-year period that contravened the AML/CTF Act on over 23 million occasions. Heads are rolling at W...

02 Dec 2019
Banking Regulations
Andrew Stevens

Why banks' latest clash with the CMA proves the consumer is king

Last week, HSBC and Santander agreed, following CMA action, to refund customers after they both broke a legal order relating to unarranged overdrafts. Part 6 of the CMA’s Retail Banking Market Invest...

02 Dec 2019
Banking Regulations
Michael Chambers

Record fine issued for governance and control failings over regulatory reporting

Yesterday, the UK arm of a large international banking group was fined £44 million for prolonged and pervasive shortcomings in its internal controls and governance arrangements around capital and liqu...

29 Nov 2019
Financial Services Regulation
Michael Chambers

A prudential end of year to-do list

With calendar year end right around the corner, now is a good time to think ahead about the annual review of your firm’s prudential governance arrangements. It’s a good time to sit down with a cup of ...

29 Nov 2019
Financial Services Regulation
Shirish Netke

What is Agile Compliance ?

As more banks make headlines through failing to effectively monitor and report on money-laundering activity, we need to rethink the AML problem and the roadblocks to solving it. To restate the problem...

28 Nov 2019
Artificial Intelligence and Financial Services
Prasoon Mukherjee

Accounting, Auditing and Blockchain. The common thread that binds the 3 is Triple Entry Accounting

Introduction: A background of accounting and auditing mis-governance, that’s hard to ignore: With sheer increase in the number of accounting scams that the industries have witnessed since early 2000, ...

26 Nov 2019
Internal Auditors in Financial Services