Reporting and GovernanceRSS

Banks finding it difficult to recruit compliance professionals - OCC

Finding and then retaining compliance staff, particularly those specialised in tackling financial crime, is proving to be a challenge for banks said the Office of the Comptroller of the Currency (OCC) in its semi-annual report.

ASIC chair outlines new approach to curbing misconduct

Australia’s regulatory approach is all about promoting permanent cultural and behavioural change in institutions individually and the financial services industry more broadly, said James Shipton, chair of the Australian Securities and Investment Commission (ASIC).

ECB consults on supervisory fees

The European Central Bank (ECB) is seeking feedback on proposed changes to its supervisory fees and levies on covered banks and the timing of their collection.

Hong Kong regulators sound warnings over complex financial structures

Following an inspection of a mainland China-based banking group, Hong Kong’s regulators are asking financial institutions to “urgently” take steps to address risks that could result from complex and opaque structures.  

Moves to limit retail investor information on CAT welcomed by congressmen

Moves by the Securities and Exchange Commission (SEC) to limit the amount of information it collects on individual investors has been welcomed by some members of the House Financial Services Committee following a series of big data breaches.

FINRA sets up fintech office

A new unit has been set up by the Financial Industry Regulatory Authority (FINRA) to monitor and coordinate new uses of financial innovation with its member firms.

CFTC proposes improvements to swap data reporting requirements

The Commodity Futures Trading Commission (CFTC) proposes updating rules around swap data repository and data reporting requirements to make them more effective and technology compatible.

SEC gives broker-dealers more time to comply with extra disclosure requirements

Broker-dealers are being given extra time by the Securities and Exchange Commission (SEC) until October 1, to comply with additional disclosure rules around the handling of customer orders.

CFTC proposes slew of changes to derivatives clearing rules

The Commodity Futures Trading Commission (CFTC) has proposed a number of changes to derivatives clearing rules. The proposals, which are out for consultation, are designed to address management and reporting obligations, to clarify certain provisions, simplify processes for registration and reporting and codify existing staff relief and guidance, the CFTC said in a statement.

FCA entrance

FCA shift in focus on culture regulation creating unintended consequences

Culture in financial services became a key regulatory and political issue following the financial crisis with regulators exploring new approaches around interpreting conduct, but this could create some unintended consequences. By Polly James, Adam Jamieson and Daren Kemp at Bryan Cave Leighton Paisner