Reporting and GovernanceRSS

Four steps to implementing the Senior Managers and Certification Regime

The extension of the Senior Managers and Certification Regime in the UK will reach vastly more firms, but many of them have yet to consider the impact of this far-reaching body of rules on their operations. By James Marshall, senior regulatory consultant at TCC.

SFC fines Credit Suisse for breaches

Credit Suisse fined $39.3m by Hong Kong’s SFC, but escapes harsher penalties for reporting regulatory breaches and for taking remedial action.

GLEIF and SWIFT streamline entity verification processes

GLEIF inks deal with SWIFT to make it easier and more efficient for firms to identify counter-parties.

Georgina Halford-Hall

Whistleblowing: the UK is the weakest link

Whistleblowing is paramount to rooting out financial crime, but the UK lags behind its peers with outdated laws and limited protection for informants. By Farah Khalique

Janet Yellen

Will Yellen’s Wells Fargo asset cap set a precedent for punishing governance failures?

One of Janet Yellen’s last actions as chair of the US Federal Reserve was to slap a total asset cap on Wells Fargo following a string of governance failures. But there are questions over whether or not this sets a new precedent for tough sanctions, particularly given the administration’s focus on cutting red tape for banks   

Basel Committee warns that fintech will challenge conventional bank business models

Nearly every scenario shows that traditional banks will face some form of disruption from fintech, according to a report from the Basel Committee.

Stephan Wolf

More to LEIs than simply identifying counterparties

Legal Entity Identifiers are a requirement for trading in the EU, but their uses potentially go beyond just identifying counterparties. They can also drive efficiencies in on-boarding and know your customer processes

SFC provides guidance on best execution

SFC provides licensed firms with guidance on best execution and safeguarding client interests

Fed places brake on Wells Fargo’s growth until it addresses governance issues

Federal Reserve slams brake on Wells Fargo’s growth until it addresses its governance and risk management issues

Study recommends more regulatory flexibility to support Canada’s fintech growth

Canada needs to make its regulatory framework more flexible if it is to better support the growth of domestic fintech firms

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