Reporting and GovernanceRSS
Richard Watson-Bruhn

Banks need to take into account EBA guidelines when outsourcing

Outsourcing to third party providers can bring many benefits to banks, but this also comes with risks, which makes it all the more important for them to study the EBA’s guidelines on such activities  

Steven Maijoor

Spot FX market gears up to fend off MAR threat

ESMA has put the cat among the pigeons in the spot FX market by asking in a consultation whether it should come under MAR with the industry now wondering how it can fend off any such attempt

Will Newcomer

CECL delay presents banks with opportunity to extract benefits

Parts of a new accounting standard, CECL, have proven to be contentious, but a delay in its implementation should be used by financial institutions as an opportunity to extract benefits from the best parts of it  

Deborah Young

The real promise of regtech is financial stability

The big prize promised by regtech is to provide genuine financial stability where looming risks can be detected and managed in real-time by regulators and firms before they ever develop into a full blown crisis

US agencies sign up to the Global Financial Innovations Network

Four US agencies said in a joint statement that they have signed up to the Global Financial Innovations Network (GFIN), an initiative designed to foster international cooperation among regulators in the field of innovation.

US agencies consult on credit loss accounting standards

Four US agencies are seeking feedback on their proposals for allowances for credit losses and guidance on credit risk review systems.

Fed and FDIC seek comment on CAMELS ratings

Financial institutions and regulatory agencies are being given an opportunity to comment on the consistency of the Uniform Financial Institutions Rating System, also known as CAMELS ratings.

Australian banks to be called upon to make annual governance declarations

Australian banks will be asked by their prudential regulator to draw up annual declarations on governance and corporate conduct and will face reviews if their performance in these areas is not up to scratch. 

EBA calls on European Commission for harmonisation to spur cross-border financial services

The European Banking Authority (EBA) has published a report calling on the European Commission to take action to facilitate cross-border financial services within the EU. 

Jackson, Wright and Dokuchaeva

MLRO’s have key role to play in protecting banks from money laundering risks

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