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Discussion around current trends in regulations for banks globally
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John Byrne CEO at Corlytics
Knowing the rules Principles-based regulation was introduced in 1990 by the Financial Services Authority, the UK’s financial services regulator at the time (since superseded by the FCA and PRA). The approach has since found widespread support among regulators elsewhere, adopted to varying degrees by those from the Hong Kong’s SFC to France’s AMF. ...
08 October 2018 /regulation
Reghunathan Sukumara Pillai Consultant at Infosys
The nationalization of Banks in 1969 paved the way for growth of banking business in the country with improvement in economy. Banking was perceived as a lucrative white collar job with security and respectability in the society. Further nationalization of another set of banks happened in early 1980s considering the success of nationalization of B...
27 September 2018 /regulation
Retired Member
Implementing a Client Lifecycle Management program is strategically important. However, it is one that spans many different stakeholders across the business, bringing with it many obstacles and challenges to a streamlined implementation process. Having implemented CLM for 60+ financial institutions across the world, there are six key pieces of...
26 September 2018 /regulation /inclusion
Within the last ten years, the global financial market has seen a huge increase in the number of regulations to attempt to introduce more transparency and accountability to financial institutions. This skyrocketing number of regulations leads to more exorbitant compliance budgets, more fines and more scrutiny. In research published by Fenergo this...
24 September 2018 /regulation /inclusion
Our economic crime data reveals that in the last three and a half years*, 90 percent of global fines (total $14 billion) were issued by United States (US) regulators. Of note is the fact that UK, French, German and Swiss banks, with branches stateside, paid nearly 40 percent of the total fines relating to economic crime in the US. Some have viewed...
13 September 2018 /regulation
Freddie McMahon Director Strategy and Innovation at DF2020 Ltd
To combat the accelerating speed of change, there is a growing need for a step change that leads to more productive and smarter humans. The barrier to this transition is knowledge needed by humans, whether customers or employees, to make informed and timely decisions. Knowledge is too broad a term. The highest form of knowledge is for informed...
10 September 2018
Brendan Jones CCO - Co-Founder at Konsentus Ltd
As the clock counts down to when Financial Institutions (FIs) must be ready for external testing for PSD2 open banking it is interesting to see how ready, or not, all other parties are in the value chain. Most national competent authorities have nothing published about how and where they will provide updates on Third-Party Provider (TPP) registrat...
24 August 2018 /payments
Shirish Netke President at Amberoon
On the same day that the prosecution rested its case against Paul Manafort, the U.S. Attorney’s office in Tucson, AZ got a seven-year sentence against a fraudster for a money-laundering scheme; a former Microsoft employee was sentenced to 18 months after pleading guilty to conspiracy to commit money laundering; a messy FBI sting involving money l...
18 August 2018 /regulation
Sufyan Khan Head of Pre Sales / Solution Consulting - Europe at Oracle
In November 2016, the Bank of England (BoE) published the results of its 2016 banking stress tests which measured the resilience of UK’s major banks’ balance sheet in adverse scenarios. These incorporated a synchronised UK and global recession with associated shocks to financial market prices, and an independent stress of misconduct costs. The str...
31 July 2018 /regulation /wholesale
Breana Patel CEO | Thought leader in Bank Risk & Regulations at Bonova Advisory | Risk &Regulatory Advisory
CECL vs. CCAR: A Significant Change in the Banking Industry In an effort to reinforce the financial system, The FASB (Financial Accounting Standard Board) releases new regulations and policies from time to time. To ensure that financial institutions have liquidity in the times of extreme stress, CECL was released in addition to CCAR for capital ...
24 July 2018 /regulation
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