By PJ Di Giammarino, CEO JWG and Chair RegTech Council Key points 10 January marked the first day of 5MLD in the EU with new UK procedures announced JWG has been out in front of tough new UBO data quality requirements RegTech offers exciting opportunities to reduce operational pain and increase safety The RegTech Council
On 19th April 2018, the European Commission, the European Parliament and the Council of the European Union agreed adopted, in plenary, the amendment of the Fourth EU Anti Money Laundering Directive (Fifth EU Anti Money Laundering Directive (AMLD V)). The revised directive concludes two years of negotiations between several stakeholders; and looks to strengthen the
At JWG we are pleased to announce our involvement with the FCA this month at their AML & Financial Crime International TechSprint. This TechSprint will attempt to increase understanding of how to increase the hit rate of detection of $1.6 trillion of illicit proceeds up from 1%. Clearly, there are real benefits to be had!
At this year’s RegTech Capital Markets Conference a debate took place on the benefits of using RegTech for trade surveillance in the context of the evolving technical landscape, led by expert industry professionals on compliance and surveillance. Taking into consideration the volume and quality of data firms are expected to monitor, whether the current system
When 350 senior individuals from more than 65 financial institutions, as well as the vendor and regulatory community, met at this year’s JWG RegTech Capital Market Conference ‘innovation’ was at the top of everyone’s agenda. Perhaps this is not surprising – given the new disruptive technologies being controlled in a fast-changing, and fiercely competitive market.
One of the hot topics at our Capital Markets Conference this year was how RegTech could help institutions with their Know Your Client (KYC) obligations. With an expert panel from a range of backgrounds presenting fascinating perspectives on this current issue, a issues were given fresh attention ranging from artificial intelligence (AI), blockchain, data architecture
Several interconnected global trends have heightened the risk banks face when combating financial crime. First, regulators are continually revising rules as they expand their focus from organised crime to global terrorist networks, many of which have grown more sophisticated in recent years. Second, integrated networks and an increase in cross-border transactions have left gaps in
The past year has been illuminating for the RegTech market, the past twelve months has seen an increase in discussion on the application of technology to regulatory compliance. We have seen action from the regulators, including the FCA’s recent TechSprint in which we at JWG were involved, and major regulatory initiatives, most notably MiFID II,
In Megan Butler’s speech on creating a more effective approach to combatting financial crime, she posed the question “can technology help make your compliance processes slicker, more efficient and more effective?”. For combatting anti-money laundering and developing an effective KYC framework, the answer is a resounding yes. Firms that operate on a global basis will
IMeta, a leading global provider of client data management software and services, today announced it has selected JWG’s RegDelta platform, the leading regulatory change management platform, to provide a full regulatory rule set for the iMeta Client Lifecycle Management platform. JWG’s RegDelta platform allows thousands of pages of detailed operational obligations to be organised, interpreted