Banking Regulations

Discussion around current trends in regulations for banks globally

Freddie Frith Vice President at Corlytics

Artificial Intelligence: A Competitive Edge for Financial Institutions

The Regulatory Landscape The rise of financial technology has drawn the attention of regulators to FinTech firms and how they function. FinTech companies like any other regulated institutions are required to comply with a growing set of regulatory rules. One of the latest examples is the FCA's roll-out of Secure Customer Authentication (SCA) for e...

05 September 2019 /regulation

Mete Feridun Chair at EMU Centre for Financial Regulation and Risk

Are UK branches of EU-27 banks ready to become third-country branches?

The UK branches of the EU-27 banks currently benefit from lighter regulatory requirements compared to the third-country branches. However, post-Brexit this distinction will no longer be relevant as all branches will ultimately be subject to the same rules. So, with the increasing odds of a no-deal Brexit, the EU-27 banks operating in the UK as bra...

27 August 2019 /regulation

Dmitrii Barbasura Chief Operating Officer at Fintech Galaxy

TPP identification via non-dedicated PSD2 interfaces

According to the RTS on SCA and CSC (Article 34. Certificates), payment service providers shall rely on eIDAS certificates for third party providers’ (TPPs’) identification. There are 2 types of PSD2 eIDAS certificates and each of them plays an important role: QWAC (qualified certificate for website authentication) - is used for website authenti...

21 August 2019 /regulation /retail

René Hendrikse Vice President & Managing Director, EMEA & LATAM at Mitek

Identity technology and Dublin’s draw for fintech firms post-Brexit

The appointment of Gabriel Makhlouf as the 12th governor of the Central Bank of Ireland earlier this year hasn’t gone unnoticed. Until recently the top official in New Zealand’s treasury, he will be the first foreign official to occupy the post in the entire history of Ireland’s financial regulator. Coincidentally, Gabriel Makhlouf also boasts top...

09 August 2019 /regulation

Retired Member 

Companies House Consultation and its relevance for KYC and CDD

It would be an understatement to say the last 4 years have been a game-changer when it comes to anti-financial crime regulation and the know your customer (KYC) and customer due diligence (CDD) requirements. We’ve seen several important initiatives here in Europe, first with the 4th Anti-Money Laundering Directive (4AMLD), followed by further ame...

01 August 2019 /regulation

Gareth Williams CEO at YellowDog

Troops Wanted: Anti Money Laundering Tech needs the right talent to win battle against criminals

It’s not news that fraudsters are developing more sophisticated methods than ever before to launder money. But, as Financial Institutions (FIs) are working hard to remove friction from their customer onboarding processes and actively reduce face to face customer interactions, the war on money laundering is being fought on very risky battle lines. ...

31 July 2019 /regulation /cloud

Luke Trigg Co-founder at Logical Construct

Waiting for the sun to set on LIBOR or being proactive? See regulation as an opportunity for change

Document remediation projects are not new. Anyone working in Capital Markets in recent years can probably describe the steps involved as they tend to be similar each time. Recent battle scars in the derivatives world include Uncleared Margin Reform (UMR) where large volumes of derivatives documents had to be amended – first for variation margin ...

29 July 2019 /regulation

Mete Feridun Chair at EMU Centre for Financial Regulation and Risk

EU Banking Package: is MREL transparency really warranted?

Bank Recovery and Resolution Directive (BRRD), one of the components of the EU Banking Package, which was published in the Official Journal of the EU on 7 June 2018 will need to be transposed into EU Member State national legislations by 28 December 2020. The key rule introduced under the BRRD is the requirement for the EU banks to meet a minimum r...

14 July 2019 /regulation

Dmitrii Barbasura Chief Operating Officer at Fintech Galaxy

The requirements for non-dedicated PSD2 interface and how ASPSPs can meet them

This is the first piece from an upcoming series of articles about non-dedicated PSD2 interfaces. The scope of these articles is to describe to EU-based ASPSPs that have chosen to provide a non-dedicated interface - what are the requirements, how to meet them, and what are the potential challenges. This first piece will cover the requirements legal...

09 July 2019 /regulation /retail

Mete Feridun Chair at EMU Centre for Financial Regulation and Risk

UK regulatory reporting regime is unduly complex - could RegTech be the solution?

The regulatory reporting regime for banks and investment firms in the UK is unduly complex. Regulated firms are required to follow guidance from numerous regulatory sources and have to grapple with concurrent regulations requiring submission of data at an increasingly more granular level. This not only increases the risk of misreporting and superv...

02 July 2019 /regulation