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Living wills: don’t lose the will to live
Archive
24 Jun
2013

Living wills: don’t lose the will to live

  • 24th June 2013
  • RegTechFS

Changing EU rules suggest firms will face 2015 implementation confusion without co-ordination on RRP standards. Another month, another draft Recovery and Resolution Directive. The text is the centrepiece of EU plans for rules and mechanisms which will make banks resolvable without taxpayer bail-outs. However, five years after the crisis the rules have yet to be Read More

24 Jun
2013

A pro-fund change? Good news for AIFs

  • 24th June 2013
  • RegTechFS

Over recent years, firms could be forgiven for thinking that regulators’ ears had hardened to their complaints. But recent developments may prove them wrong. The Alternative Investment Fund Managers Directive threatens to have a significant operational impact on the industry. Fund managers will soon be subject to a host of new requirements including increased KYC Read More

10 May
2013

The big bang: What happens when risk and data collide?

The face-off between risk and data is coming.  Lack of co-ordination, both between the regulators setting the rules and within the firms implementing them, is on course to result in a messy collision when the two sets of requirements meet. Commonly, the extent of the damage done by the financial crisis has been blamed on Read More

19 Mar
2013

Materiality of extensions and changes to internal models

In the past two weeks, the EBA has issued several consultation papers on the technical standards under the 4th Capital Requirements Directive (CRD IV).  One of the papers concerned an important question:  When are firms required to report changes to their rating systems and internal models? The answer:  Pretty much all the time.  Between the Read More

06 Mar
2013

The Dynamic Data Duo: Shareholders and regulators?

Over the past few years, global regulators have introduced new measures aimed at improving transparency. Most of their focus has been on getting a consistent, global view for the supervisors to monitor more granular risks, as evidenced by the BCBS’ Risk Data Aggregation and Reporting Principles and Basel III/CRD IV. One thing everyone knows from Read More

21 Feb
2013

The PRA‘s ‘new frontiers’ in insurance regulation: a preview of banking regulation in 2013+

Andrew Bailey, the freshly anointed head of the new Prudential Regulation Authority (PRA), gave the strongest indication yet of the approach that would be taken to regulating and supervising systemic insurers alongside banks and major investment firms. Reading not very far between the lines, Bailey also seemed to be outlining the approach the PRA would Read More

18 Feb
2013

G20 update for 2013: from Russia, with love?

The G20 has released its latest progress report following a 15-16 February summit in Moscow – the first meeting under the Russian presidency of the G20. This meeting largely focused on the direction regulation would take in the near future, progress assessment and the effects of reform on the health of long-term investment finance. Overall, Read More

31 Jan
2013

Recovery & Resolution: The operational effects of bail-in

Systemic banks are at various stages in their submission of RRPs to regulators. In the US, tier 1 banks will have already submitted their first plans under Title I of Dodd-Frank, with the other tiers due to submit later in 2013. In the UK, aside from the largest institutions, submission has been delayed multiple times, Read More

31 Jan
2013

HFT: Time to talk about how?

It’s 2013 and we’re still talking about regulating HFT in the absence of data quality and standards conversations. That needs to change. 2012 seemed like the year of regulators taking a prolonged look at computer trading – defining what it might be, its potential effects, why it may be problematic. It is still far from clear that Read More

07 Dec
2012

FATCA: Good news (in disguise) for your cost-income ratio?

Can a controversial tax reporting initiative actually be good for your bottom line? We explore how. The US Foreign Account Tax Compliance Act (FATCA) has been heavily criticised, and accused of being a “kind of US backward imperialism” with “an atomic bomb used to kill a fly”. At its heart, FATCA exists to track down Read More