Regulation and Risk

The Effect of Brexit on MiFID

Since the UK voted to leave the European Union (EU), there have been many questions asked about the impact of Brexit. One question has been around how or if it will impact on MIFID and whether the…

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The future effect of Brexit on MiFID

Brexit and Regulations - Tough just got tougher 

By Silvano Stagni – Global Head of Research, Hatstand (A Synechron Company)

Last Friday, the City of London woke up to the fact that 51.9% of British voters want out. But what does ‘out’ actually…

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Brexit and Regulation

'The Financial Sector is one of the Prime Targets of Cyber Attacks'

On April 6th 2016, the International Organization of Securities Commissions (IOSCO) issued its report on Cybersecurity in Securities Markets – An International Perspective.  The report provides a…

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Bank of China Tower Hong Kong

MiFID II Deadline Delay: From ‘next to impossible’ to ‘ambitious but doable’

Notwithstanding a one-year respite in the MiFID II deadline, any financial institution that takes their foot off the gas pedal does so at its own risk, says Silvano Stagni.

The European Commission…

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MiFID II Business Risk

Five tips for checking vendor cybersecurity

Third-party vendors are a key part of the cybersecurity equation, but all too often these firms are not doing enough. 

Banks rely on third-party vendors for everything from legal services to…

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Bank of England counting the cost of financial regulation

The cost of financial regulation to the banking industry will be looked at more closely by the Bank of England as it looks to do more to promote competition and investment. 

Chancellor George Osborne…

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SEC risk alert announces cybersecurity exams round 2 

The Securities and Exchange Commission (SEC) has issued a risk alert announcing the start of a second round of examinations to identify cybersecurity risks and assess cybersecurity preparedness in…

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Alert button on a keyboard

Algo trading may come under FCA conduct rules

Algorithmic trading may come under tougher scrutiny from the UK’s financial regulator as it looks to expand the scope of its conduct rules to wholesale market activities.

The Financial Conduct…

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Rising bank IT costs are a bigger worry than regulation and cyber threats

Ask a banking executive what their biggest worry is these days and chances are things like regulation and cyber security are high on the list. 

But as a new survey indicates, the real jitters are…

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Inside The Cartel:  The worst comments made in trading chat rooms.

Some traders can cost banks dearly, very dearly. Fines totally $5.6 billion spread among six banks for rigging currency markets show just how costly the actions of staff can hit big banks. 

When you…

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ESMA plans MiFID II energy rethink

The European Securities and Markets Authority (ESMA) is to review criteria for deciding whether energy companies should be treated as financial firms under the amended Markets in Financial…

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Pros and cons of registering as an Organised Trading Facility

To OTF or not to OTF; that is the question facing financial institutions across Europe as we head towards full implementation of MiFID II. 

What is an OTF?

An Organised Trading Facility is a…

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How much does bank regulation cost?

Regulation mania has swept over the financial sector since the crash, but just how much is this costing?

Regulatory costs can be capital requirements or tougher fines, but it’s also an issue that…

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Boosting cybersecurity at Asia’s banks

Cyber security risks are rising for Asia’s banks, who are responding by investing more in the necessary skills and expertise to combat the threat.

The cyber security threat is a global one and Asian…

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Embracing regulation as a means to remediating the legacy tail

The Legacy Tail occurs in nearly application flow in every bank. It refers to technology or data solutions that are non-strategic but still provide relevant services and may be hard to decommission.…

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Riverside-view of the City of London skyscrapers and Gherkin building

Hedge fund cyber security risk to financial systems

Hedge funds must toughen their cyber security as they are being targeted by hackers and terrorists who seek to disrupt the financial system. 

The US Department of Justice believes hedge fund weakness…

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Banks get extra 9 months for swap margin rules

Banks have secured additional time to comply with new rules for non-centrally cleared derivatives.

Regulators pushed back the date for introducing minimum collateral rules for swaps and other…

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Riverside view of the Gherkin and neighbouring skyscrapers in London, UK.

Three of the biggest legacy system disasters

Banks may continue to muddle through with legacy systems without too much bother, but ultimately there comes a time when this needs tackling. Leave it for too long and you could end up with a legacy…

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Large pile of computer terminal plastic housings to recycle

Time to collaborate on cybersecurity

Bank robbers have been around since the invention of money, but these days they’ve swapped their masks and guns for a laptop and a bit of software.

But as the criminals have shifted to cyber crime,…

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Computer keyboard button with 'cybersecurity' written on it

Get ready for Basel IV

The Basel Committee on Banking Supervision (BCBS) doesn’t let up. Not content with the reforms of Basel III, regulators are pressing ahead with much stricter rules for banks that could pose a number…

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Volcker urges radical regulatory reforms

Former Federal Reserve chair Paul Volcker has urged the US to streamline its financial industry regulation to end what he calls a “fragmented, outdated, and ineffective” system.

Volcker, who gave his…

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UK wins Euro Clearing House Ruling

Euro clearing houses can be located outside the single currency bloc, the European Union’s second highest court has ruled.

Responding to a challenge by the UK, the General Court said on Wednesday…

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Dodd Frank: Enhanced prudential standards explained

Just over a year ago the Federal Reserve approved a final rule strengthening the supervision and regulation of large US bank holding companies and foreign banking organisations (FBOs) under section…

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Five reasons you can't ignore BCBS 239

The Basel Committee on Banking Supervision’s guidance on effective risk data aggregation and risk reporting sets a high standard and presents banks with a timeline for implementation that is tight.…

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Fed backs small bank regulation relief as Dodd-Frank weighs

The Federal Reserve will push ahead with regulatory relief for small banks, as a report reveals that America’s community banks are being hit hardest by Dodd-Frank legislation.

In prepared remarks at…

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FDIC takes aim at Operation Choke Point

Banks are being told to assess credit risk on a case by case basis rather than cutting ties with whole lines of business.

In what’s being seen as an attempt to stifle the Obama administration’s…

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China, Russia ease bank requirements

China and Russia sought to ease regulatory requirements on their banks amid concerns about their economies.

The People's Bank of China (PBOC) chose to slash banks' reserve requirement ratio (RRR) by…

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Basel Committee overhauls disclosure model

Banks will have two years to significantly alter the way they disclose risks on their balance sheets, after regulators pressed ahead with plans to improve transparency and make it easier to compare…

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Are banks in favour of higher capital requirements?

Bankers are in favour of the deluge of new regulations imposed on financial institutions since 2008, one top executive has argued. With just a few caveats around bond market liquidity, banks are…

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Stiglitz off SEC panel on high-frequency trading

Vocal critic of high frequency trading (HFT) Joseph Stiglitz will not be on an influential panel looking at US equity markets.

The Securities and Exchange Commission (SEC) group will examine a number…

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