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Recovery & Resolution: The operational effects of bail-in
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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

31 Jan
2013

Securities Lending and Repos: Illuminating data?

Will the FSB succeed in attempting to bring non-bank credit intermediaries out of the shadows? Now that regulators have this mass of data, what is the next step in linking it and putting it to use? In 2013, global regulators are finally taking a good look at connecting the data dots. The FSB has especially Read More

29 Jan
2013

EU bank IT spending: growing by … 0.4% in 2013?!

Over the past five years, the G20 has rolled out one of the largest technology and operations projects the financial system has ever seen. National regulators have issued multiple, often conflicting, regulations with differing technical standards, leaving firms sweating to upgrade their legacy systems to keep pace with change demands. Today, a report produced by Read More

28 Jan
2013

The Coming Fragmentation of Cross-Border RRP’s

However, the realisation of such an approach has been stifled by differences between national insolvency regimes and resolution tools. As a result, many assumed that, where such a conflict occurred, national regulators would naturally seek to cooperate on the issue, with one regulator giving sole jurisdiction to the other in order to allow for the Read More

25 Jan
2013

The state of regulatory engagement models: the truth hurts!

  • 25th January 2013
  • RegTechFS

In May, the CFTC’s Bart Chilton characterised regulatory cost benefit analyses a “sword of Damocles” calling out for more qualitative data. Since then, multiple no-action letters and a court case against the SEC have shown that there are deep-seated issues with CBAs that regulators are having trouble keeping below the surface. For the SEC and Read More

07 Dec
2012

Out of the shadows, into the rulebooks?

Shadow banking could soon force infrastructure upgrades and additional business costs– will the industry find ways to ease the pain? As repos, securities and, potentially, CCPs become part of the transparency agenda via new shadow banking regulation, this could result in infrastructure upgrades and increased business costs looking set to be on their way in Read More

07 Dec
2012

EU leading data hub charge where US left off

New, prescriptive EU clearing obligation rules will require new counterparty classification and monitoring systems. Is this a standard data hub opportunity? With EMIR having entered into force on 16 August 2012, and the release of final draft technical standards by ESMA in September, firms will soon be facing rules on clearing obligations and eligible counterparty Read More

07 Dec
2012

2013: A very new year

  • 7th December 2012
  • RegTechFS

Five years after the crisis started, real change is finally in store. Who is on the naughty and nice lists? In 2012, the industry saw a flurry of financial sector reforms. With over 140,000 pages of regulation produced over the past twenty four months, an ambitious but often discordant global regulatory framework has developed, leaving 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