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.

Anna Monteiro Global Head of Business and Product Development at www.solutions-atlantic.com

Roundup of Q4 2021 Foreign Direct Investment Regulations

Changes and extensions to foreign direct investment rules in the fourth quarter of 2021 continued to be fueled by Covid-19 as the Omicron variant made its debut in November. A few countries, France, Italy, and Spain have extended their existing FDI restrictions that were put in place in 2020 as temporary measures through to 31 December 2022. France...

27 January 2022 /regulation /markets

Jussi Karjalainen CEO at Valtatech

How NOT to fail the Australian Prudential Regulation Authority's YFYS spend related performance test

As the Australian Prudential Regulation Authority (APRA) continues to introduce more and more regulation and oversight over the superannuation industry, superfunds are finding themselves having to continually review their processes and policies to ensure that they remain compliant. The latest Your Future Your Super (YFYS) reforms, which came into ...

23 November 2021 /regulation /wealth

Garima Chaudhary Head of Fin. Crime Solution Consulting - Americas at Oracle

What U.K. bank CEOs can do now to close gaps in their anti-money laundering controls

Introduction The Financial Conduct Authority (FCA), the regulator of financial markets in the U.K., flexed its muscles in March of this year when it launched its first attempted prosecution for anti-money laundering (AML) failings against NatWest. A couple of months later, David Geale, the Director of Retail Banking and Payments Supervision for th...

20 October 2021 /regulation /crime

Luigi Wewege President at Caye International Bank

Can a United States Citizen Have an Offshore Bank Account?

One of the downsides of the Internet is the dissemination of misinformation. That has led some to believe that US citizens cannot open and maintain offshore bank accounts, investment accounts, and other types of financial resources. That’s not the case. While some things have changed over the years, the truth is that US citizens are free to open ac...

17 October 2021 /regulation /inclusion

Karen Hsu CMO at Appdome

BSA Compliance and FFIEC Examinations for Mobile Apps

Thanks in large part to the global pandemic, consumers are increasingly turning to mobile apps to manage their finances, payments and transactions. In fact, 58% of mobile consumers report using and downloading more mobile apps and buying more products and services on them since the COVID-19 pandemic started, according to the Appdome 2021 Global M...

30 September 2021 /security /regulation

Retired Member 

How Financial Institutions Can Fight Money Laundering in a Disrupted Global Environment

The disruption and uncertainty created by COVID-19 has slowed business execution across all aspects of businesses. Anti-financial crime and compliance functions are no exception. However, the challenges and pressures of fighting money laundering and other financial crimes have not eased. Instead, the current environment is making the need to drive...

30 September 2021 /crime /covid-19

Anna Monteiro Global Head of Business and Product Development at www.solutions-atlantic.com

Slow Third Quarter for Foreign Direct Investment Changes

As expected, it’s been a slow third quarter for changes to foreign direct investment (FDI). Following on from my last update, we’ll start in the AsiaPac region and move westward. Australia has been evaluating the reforms to foreign direct investment that commenced in beginning of the year. The Treasury is evaluating whether these reforms have stru...

24 September 2021 /regulation /markets

Anna Monteiro Global Head of Business and Product Development at www.solutions-atlantic.com

Around the World of Foreign Direct Investment

Just coming up for some air, having had a busy first half to 2021 and realizing that my update on foreign direct investment is long overdue. Let’s not waste any time because there’s plenty to report since my end of year 2020 roundup. Early in the year, Germany issued a consultation to amend its FDI regime and made the following effective 1 May 20...

14 July 2021 /regulation /markets

Nick Green Director at Purple Patch Broking Ltd

A quick look at the data requirements for the 6th Anti-Money Laundering Directive 6AMLD

6AMLD: A quick look at the data requirements for the 6th Anti-Money Laundering Directive (6AMLD) Anti-Money Laundering (AML) is one of the most intense areas of financial regulation. With the development of money laundering crimes constantly evolving, the steps firms take to prevent these crimes are often insufficient. With the 6th Anti-Money La...

09 April 2021 /regulation /retail

Maximilian Dyck 

Automating regulatory reporting - the case of IFR

Automation technology has changed the world in more ways than one. Smart phones can recommend music choices based on listening patterns, while self-driving cars are becoming reality. Better automation can also significantly transform supervision and regulatory reporting at financial institutions. With the regulatory burden increasing, new technolo...

26 March 2021 /regulation