Reporting and GovernanceRSS

Big tech firms may need to share data with banks

To create a level playing field, big tech firms may have to share their data on financial services customers with traditional banks, the Financial Stability Board (FSB) said in a report. 

Survey finds risk and compliance concerns for US banks

Challenges around risk and compliance not only remain high in a number of key areas within US banks and credit unions, but have actually risen, according to Wolters Kluwer’s Governance, Risk & Compliance division.

Freedom of information request reveals high level of MiFID II reporting errors

More than 20% of asset managers are still making errors in their reporting to the UK’s Financial Conduct Authority (FCA) with regard to their obligations contained in the markets in financial instruments directive (MiFID) II. 

Nick Bayley

PRA Citi fine may be start of clampdown on big bank reporting failings

The big fine slapped on Citigroup for reporting failings by the UK’s PRA might be the start of a crackdown on other big banks struggling with their regulatory reporting 

Nuclear compromise sees EU green taxonomy signed-off

The EU’s Parliament and Council compromised on the wording of a taxonomy or rule book governing the definitions of green finance after altering the language so as not to discriminate against nuclear or gas as a transition energy source. 

Supervisory focus for banks shifting from new rules to resilience and adaptability

Even as the pace of new regulation slows, banks will increasingly have to demonstrate their financial and operational resilience and that they are responding ably to social and political pressure, according to two reports by Deloitte. 

Associations challenge proposal of state-specific fiduciary standards for broker-dealers

A proposal by the Commonwealth of Massachusetts for broker-dealers and their representatives to have their fiduciary standards set at state level has received strong opposition from financial services trade associations. 

Subharun Mukherjee

Preparing for a testing 2020

The growing involvement of third parties along with cyber risk not to mention the reputational repercussions if something goes wrong, are all good reasons for financial firms to prepare for worst 

Laura Boyd

Firms should use SM&CR to streamline their governance

As the next wave of firms ready themselves for SM&CR, they should use its implementation as an opportunity to streamline their governance and declutter their operations

SEC proposing changes to stock market data feeds governance

Following years of complaints from users, the US Securities and Exchange Commission (SEC) is proposing changes to the governance of stock market data feeds.