Money laundering is a growing threat to financial institutions potentially placing them in the cross hairs for large regulatory fines, which is putting a greater emphasis on the role of the MLRO
Regions
More banks rethinking their businesses in the face of climate change pressures
The clamour to address climate change is forcing banks to rethink their lending policies and to ponder new ways of assessing risk as they face growing pressure from regulators to go green. By Victor Smart.
First phase of SFTR reporting obligations likely to face some disruption
The newness of the SFTR framework for some market participants could see them caught out by its complexity when the first phase of the reporting obligations goes live in April next year
Libor may yet have life beyond 2021
The industry has done a great deal of work towards shifting financial instruments from referencing Libor towards using alternative rates. But such is the scale of the task, many industry sources doubt that the transition will be complete by the end of 2021
The cloud’s systemic implications worry financial regulators
The big cloud firms are rapidly emerging as key infrastructure providers to banks raising questions over whether they should be supervised similarly to clearing houses, for example
Resolving Brexit could help tackle global regulatory fragmentation
Resolving Brexit could be the big breakthrough, which heals regulatory fragmentation, according to one former MEP. The problem is that the Brexit process will drag on for years and remain deeply fractious.
Australia’s relatively conservative bank reforms already facing some resistance
Australia’s recent banking scandals, very much rooted in conduct issues, triggered a series of fairly conservative regulatory reforms, but even these are facing some industry push back
Australian banking scandal gives regtech a big boost
Australia’s recent spate of banking scandals has given its regtech sector a major boost as banks rush to find solutions that will ensure they treat their customers better in the future
BSB publishes final guidance to support UK conduct rules
The Banking Standards Board has finalised it fourth item of guidance, which deals with regulatory references, where it was decided to stick with three high level principles to help firms with compliance
Quarles hopes stress capital buffer to be ready for 2020
In a speech, US Federal Reserve Board vice chair Randal Quarles said he hoped that come the 2020 stress tests, the stress capital buffer (SCB) framework would be in place with some tweaks following consultations.
Most Viewed
- Transitioning away from Libor is littered with legal pitfalls
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