Community
Discussion around current trends in regulations for banks globally
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Alistair Catto Managing Director at Beyond
Recent analysis conducted by LexisNexis highlighted that many financial institutions are struggling to complete their implementation plans for the Fifth Anti-Money Laundering Directive (5AMLD). Even more troubling was that many of those surveyed were not even aware of its key purpose. So what activities should banks be focusing on to ensure their ...
11 January 2021 /regulation /crime
Richard Blore Chief Executive Officer, KY3P, IHS Markit at IHS Markit
Those of us who work in financial services are keenly aware that third-party risk management (TPRM) continues to be a key area of focus for global financial services regulators. Recently, we have seen consultations from the Bank of England and the International Organization of Securities Commissions (IOSCO) as well as a legislative proposal from t...
21 December 2020 /security /regulation
Retired Member
ISO20022, also known as the universal financial industry message scheme, is the platform proposed by the International Organization for Standardization (ISO) to develop all financial messages. It is not a suite of message standards, but a recipe to develop message standards for all domains in the financial industry. The main ingredients being synt...
17 December 2020 /payments /regulation
Joris Lochy Product Manager at Intix | Co-founder at Capilever
With regulators worldwide becoming more and more demanding and processes to get licensed becoming more and more costly and complex, obtaining a license from a regulatory authority has become a full business in its own. Not only are there (lawyer) firms (such as FLA = Financial Licensing Advisors, Simont Braun, Four & Five…) specialized in comp...
23 November 2020 /regulation
Following the financial crisis, bank control authorities (like the FCA in the UK or the FSMA in Belgium) and compliance departments within banks have grown exponentially. As a result, regulatory costs have also increased dramatically relative to banks’ earnings. At first sight, this seems indeed the correct reaction, to better control and monitor ...
13 October 2020 /regulation
No enterprise has ever wanted unplanned downtime of their services; and that is especially true in the financial services industry. Over the last two years, there have been multiple banking system failures in the UK market that have hit the headlines. Some have been that major that they have actually seen customers actively switching to competit...
23 September 2020 /security /regulation
Adrian Sargent Founder and Managing Director at ESG Treasury Ltd
All you may have already seen the Finextra article with reference to Green RWA Asssocation, the theory ids bansk need to hold capital for all risks, therefore our paper proposes a methodology to allocate captial for climate change risks. Read the article here: https://www.finextra.com/newsarticle/36527/maths-for-esg-how-one-calculation-could-ign...
09 September 2020 /regulation /sustainable
Shirish Netke President at Amberoon
The Paycheck Protection Program (PPP) offers a case study in government activism. It’s vital: At a time when the economy is reeling from a global pandemic, PPP is designed to support a variety of businesses, non-profits, self-employed individuals, tribal organizations and more. It’s massive: $669 billion to be disbursed in a very short period of t...
06 August 2020 /regulation /covid-19
Yamen Bousrih Manager Business Expert at Vermeg
SRD II won’t be postponed! The verdict came from the European Commission earlier this month! Despite the joint letter sent by several post-trade groups and the call to postpone the deadline of SRD II and the Implementing Regulation, the European Commission decided earlier this month to go ahead with the implementation of the directive as originall...
25 June 2020 /regulation /covid-19
Ilia Dragan Co-Founder | Chief Product Officer at ShoppingOS
According to the second Payment Service Directive (PSD2), all the financial institutions that provide payment accounts (ASPSPs) - banks, e-wallets, prepaid cards, neobanks and e-money institutions with their agents - must have in place at least one channel for secure communication with third party providers (TPP). They can choose to offer a dedica...
18 June 2020 /regulation /retail
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