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Holistic Surveillance Maturity Model Benchmark Study
02 Aug

Holistic Surveillance Maturity Model Benchmark Study

  • 2nd August 2019
  • PJ Di Giammarino

We are pleased to announce the launch of our latest survey: ‘Holistic Surveillance Maturity Model Benchmark Study’. The aim of the survey is to investigate the problem currently faced by firms and their suppliers because there is no common language to quickly align their voice, eComms and trade surveilliance conversations about the technical capabilities required by Read More

19 Jan

Countering terrorism: Commission’s proposal to strengthen anti-money laundering measures

  • 19th January 2017
  • Jordan Dilworth

The European Commission proposed on 21 December 2016 to strengthen Europe’s criminal law framework to combat money laundering by drawing on international standards to establish minimum rules for defining criminal offences, imposing sanctions in relation to money laundering and improving cross-border cooperation between Member States.  In the press release, Commissioner Avramopoulos stated that this proposal Read More

07 Jan
Chief Compliance Officer, CCO, nysdfs aml regulation, senior managers regime, SMR, smr implementation, senior managers regime implementation

Another step towards increasing individual accountability

There will no doubt be many concerned faces amongst senior management this year as the new rules for the Senior Managers and Certification Regime (SMR) come into force over the next 12 months.  The first implementation date will be in February 2016 when firms will have to submit documents for grandfathering, then commencement of the Read More

03 Sep

The AML umbrella continues to open

  • 3rd September 2015
  • David Miller

JWG analysis. Last week we wrote about thwarting financial crime through suspicious transaction reports (STRs) in the UK, and the Financial Conduct Authority’s (FCA) concern over the integrity, accuracy and coverage of STRs.  On the other side of the Atlantic, FinCEN is proposing to extend their anti-money laundering (AML) regime to investment advisers.   Closing Read More

02 Jul

What if your investment-based crowdfunding platform is operating outside the scope of MiFID?

  • 2nd July 2015
  • RegTechFS

JWG analysis. Today ESMA published a Q&A, aiming to clarify the status of investment-based crowdfunding platforms which are outside the scope of MiFID and, therefore, not automatically subject to rules designed to combat money laundering and terrorist financing under AMLD III. Investment-based crowdfunding platforms can have a different regulatory status.  Some are within the scope Read More

22 Apr

RegBeacon now published for members.

JWG analysis. Since the turn of the year, we have not seen the pace of reform slow down. We could fill pages with acronyms describing the new requirements for financial institutions, but we will spare you that. We are aiming high and expanding our coverage beyond the G20 to track over 600 regulatory initiatives and Read More

09 Feb

Digital identity – KYC for the digital age?

  • 9th February 2015
  • RegTechFS

By Darragh O’Grady and JWG. Regulatory requirements coming in over the next 3 years will mean firms need to know – and prove that they know – more things about their customer than ever before.  Combined with the growth of ‘digital banking’, firms are now having to innovate on the digital front, whilst ensuring compliance Read More

13 May

The minefield of KYC compliance

JWG analysis. The idea of KYC compliance has traditionally been associated with AML, PEP checks and international sanctions, however the new wave of regulations that is to begin rolling out in 2015 will place a whole new set of pressures on businesses to ‘know their clients’. Rachel Wolcott, writing for Accelus’ Compliance Complete, has highlighted Read More

27 Jan

Standard Bank’s landmark £7.6m AML fine: Beware of the PEPs

  • 27th January 2014
  • RegTechFS

JWG analysis. According to the notice released on Thursday, the FCA has fined Standard Bank £7,640,400 for failings in its AML systems and controls relating to its treatment of corporate customers connected to politically exposed persons (PEPs). This notice is particularly relevant given that the FSA’s thematic reviews in 2010 found that “more than a Read More