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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 ...
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 ...
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...
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’...
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...
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...
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...
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...
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...
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 ...
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...
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, ...