The Financial Conduct Authority wants to extend the senior managers & certification regime to many more UK-based financial firms. Fortunately, many of the earlier wrinkles in the regime have been ironed out and the regulator is proposing to apply it proportionately. Justin Pugsley reports.
Reporting and Governance
South Africa readies for ‘twin peaks’ regulatory model
South Africa is undergoing financial reforms, one of which is to introduce a new twin peaks model that separates out conduct and prudential regulation. Justin Pugsley reports.
Banks question role of ‘three lines of defence’ model for risk management
Risk management models such as the three lines of defence might be losing their effectiveness for banks following the avalanche of new rules and different ways of operating since the global financial crisis. By Todd Partridge, vice president of product marketing at Synchronoss.
Japan's Financial Services Agency rethinks its supervisory approach
To help spur sustainable economic growth, Japan is looking to loosen the supervision of its banks to make it easier for them to lend.
International US asset managers will be affected by MiFID II
US asset managers and brokers with EU clients will find themselves caught up in the far-reaching Markets in Financial Instruments Directive II.
Small banks likely to be biggest beneficiaries of Dodd-Frank reforms
Given strong levels of cross party-political support, smaller banks are likely to be the biggest long-term beneficiaries of the US administration’s efforts to reform Dodd-Frank.
SEC views cyber-crime as a leading market threat
The US Securities and Exchange Commission is increasingly concerned over the growing number of cyber-attacks aimed at the finance sector.
FSB's climate change task force issues recommendations
The Task Force on Climate-Related Financial Disclosures released a set of recommendations for carbon emitters and a framework to help investors, banks and insurers evaluate climate-related risks.
FSB warns G20 leaders over regulatory fatigue
FSB chair Mark Carney warns G20 leaders not to give into regulatory fatigue and endanger the "immense progress" that has taken place on financial reforms.
IOSCO issues report on identifying wholesale market misconduct
IOSCO sets out ways of identifying and addressing market misconduct in a new report.
