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Discussion around current trends in regulations for banks globally
Writen by Colin Weir Associate at Carlyle - Executive Search insights provided by Adrian Sargent The Covid-19 crisis has highlighted that financial stress events can occur with little prior warning an...
The Basel Committee’s revised Pillar 3 framework of 2015 was intended to address shortcomings in the consistency and comparability of firms’ regulatory disclosures. Introducing standardised disclosure...
Last week, the US Department of Treasury published its 2020 Strategy document that "employs a whole-of-government approach to guide the public and private sectors in addressing 21st century illi...
Neither IBORs nor RFRs; firms should ready up to work with both types of benchmarks and reference rates for the foreseeable future. The quantitative finance focused publications of 2019 have highligh...
On 7 January 2019 the Bank of England (BoE) published a discussion paper (DP) on the way it collects data from financial institutions in response to the June 2019 Future of Finance report undertaken b...
A US financial regulator opened an investigation last month into claims that Apple's credit card offered different credit limits for men and women. Steve Wozniak, the co-founder of Apple tweeted tha...
Westpac Bank in Australia is facing one of its gravest crises from systemic AML/CTF failures over a 5-year period that contravened the AML/CTF Act on over 23 million occasions. Heads are rolling at W...
Last week, HSBC and Santander agreed, following CMA action, to refund customers after they both broke a legal order relating to unarranged overdrafts. Part 6 of the CMA’s Retail Banking Market Invest...
We have been asked to explain the differences between rules-engines and machine learning for anti-money laundering/banking secrecy act applications on numerous occasions. This question typically arise...
Reserve Bank of India has shared draft guidelines for "On Tap" Licensing of Small Finance Banks in the Private Sector on 13th Sept 2019. As of now, SFB appears to be the only way to become a...
The Legacy Approach In my prior article, I discussed Rules Engines vs Machine Learning for AML/BSA/CFT compliance. In this article we differentiate legacy AML process from modern a Agile Compliance ap...
“Data is King” has become an idiomatic phrase. Banks have an abundance of data, but the recent fines levied by the FCA against prominent UK banks for their failure to accurately report transactions un...