Following the announcement of a landmark deal on international cooperation over tax avoidance last week, Tuesday saw the signing of a transatlantic pact on data transfer.  Even when the EU are in the process of stocktaking the cumulative effects of regulation so far, there is clearly no break in the ongoing pace of financial markets


After a long week at Davos, there are a number of interesting conclusions from this year’s World Economic Forum.  China appears to have come out less of a worry than it was when it went in, with the IMF’s Christine Lagarde stating that the country is going through a transitional stage towards sustainable growth, and


The new year has not brought any better luck for China’s economy. As stocks continue to slump, the People’s Bank has again devalued the Yuan to somewhat limited results. Meanwhile the debate over how best to control Wall Street is getting no less fiery. Bernie Sanders has made clear his intentions to ringfence investment banks


Add another category to the ever expanding list of risks posed to the financial sector with the new kid on the block: Climate Change. Climate risk has now expanded beyond sheer physical damage to companies and their assets to encompass the risks posed by investments in fossil fuels and their rapidly declining value. In response


With Stefan Ingves, Chairman of the Basel Committee on Banking Supervision, attending last week’s Institute of International Finance (IIF) Annual Membership Meeting in Lima, the Basel III topic made its way into the discussion. Looking ahead to the next twelve to eighteen months, Mr Ingves highlighted that the Committee’s policy agenda would be focused on


Operational risk and regulatory change

By Helen Pykhova, Director, The OpRisk Company, and Meredith Gibson, Head of Legal Risk, Santander UK. Introduction The reader will agree that we live in the age of regulation.  There is an enormous amount of change coming out of the new legislative and regulatory publications and the sheer number, scale and complexity of the initiatives


Preparing for the ‘ringfence’

JWG analysis. Following the introduction of the new ringfencing law, due to come into force 1 January 2019, the biggest UK banks strongly voiced their concerns. Although this new law will be difficult (and expensive!) for all banks involved to implement, firms with more global and diversified business models are facing additional complexities.  In particular,


Helen Pykhova, Director, The OpRisk Company, and Elizabeth Roberts, Managing Director, Sheffield Haworth, share their thoughts on the identity of an operational risk professional.  Over recent years, the importance of the operational risk profession within financial services has undoubtedly increased.  This has been due to a number of reasons, such as major corporate failures and


JWG analysis. On 21 July 2010, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank for short) into law.  Since its inception, the number of pages of Dodd-Frank related rules has risen to 22,296, representing over a 550% increase on the 4,049 pages released in the first year. It may have


JWG analysis. With a number of regulatory deadlines looming, we thought we’d remind you of another one – mark January 2017 in your calendars (if you haven’t already) for MiFID II. The aftermath of the recent financial crisis exposed weaknesses within Europe’s current Economic and Monetary Union and highlighted the need to strengthen it.  Although