There is a great deal of debate about how to facilitate behavioural change within banks. One way could be to have regulators on site, as ASIC is planning to do in Australia following a spate of banking scandals. But is it the right approach? By Lisa Andersson, head of research at Aktis.
Reporting and Governance
The lessons of Lehman live on in data lineage
One of the great lessons of the collapse of Lehman Brothers was the lack of data surrounding its operations and relationships with counter-parties. Since then there has been an intense focus on data quality with considerable progress made. By Charlie Browne, head of market data and risk at GoldenSource.
Issues remain one year on from MiFIR transaction reporting going live
Getting ready for MiFIR transaction reporting was a truly Herculean task, but for the most part the industry succeeded. However, there are still numerous issues that need tackling, and regulators are becoming impatient. By David Nowell, senior regulatory reporting specialist at Kaizen Reporting.
Emerging market firms getting drawn into the net of Western regulations
Regulatory tomes such as MiFID are predominantly for EU-located firms, but such is their growing extra-territorial reach, particularly for non-EU firms wishing to trade with EU entities, that emerging market players are being forced to comply with many aspects of these frameworks at considerable cost. By Tenette Abanilla, director and chief operating officer at Dinosaur Merchant Bank.
Europe forced to rethink conduct regimes following Danske Bank scandal
A spate of money laundering scandals is forcing EU regulators to rethink the way they regulate and monitor financial institutions’ activities around ‘dirty’ money
Dubai accepts seven fintechs to apply for innovation testing licence
The DFSA has given seven fintech firms the go ahead to apply for an innovation testing licence in Dubai to further develop their solutions.
Hundreds of firms at risk of non-compliance over CSDR requirements
A regulatory consultancy has found that most firms conducting internalised securities transactions covered by CSDR are unaware that its reporting requirements apply to them.
New York Fed outlines practices for handling confidential market information
New York Fed reviews its policies on handling sensitive market related information to conform with the goals of the Treasury Market Practices Group (TMPG) and the FX Global Code of Conduct
AI raises new governance challenges for regulators and industry
Such is the unique nature of artificial intelligence in that inputs don’t produce predictable outputs that regulators and industry will have to think carefully about the governance structures surrounding this unique technology
Basel Pillar 3 disclosure requirements finalised following consultation
Following a consultation in February 2018, the Basel Committee on Banking Supervision has updated its Pillar 3 disclosure requirements covering areas such as credit risk
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