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KYC compliance: automation and the human
Archive
03 Jul
2017

KYC compliance: automation and the human

  • 3rd July 2017
  • Jordan Dilworth

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 Read More

17 Sep
2015

Battle of the bonuses

  • 17th September 2015
  • Liam Gurnick

JWG analysis. On 7 September, the EU published a statistic showing that, according to the EBA, the percentage of high income earners that have a material impact on an institution’s risk profile has increased from 53.68% to 59.00%.  They stated, though, that this trend is likely to change in the future following the adoption of Read More

03 Oct
2013

No Madoffs please: What does US government shutdown mean for enforcement and rulemaking?

On 1 October, the US government failed to reach an agreement on appropriate budget levels and a nationwide shutdown of federally funded entities ensued.  Clearly enforcement actions are going to take a hit.  But what effect will this have on the rulemaking process, especially given that we are in the middle of a delicate balancing Read More

26 Sep
2013

The cost of doing nothing: TD Bank’s AML fine highlights operational risk hazards for smaller firms

  • 26th September 2013
  • RegTechFS

On 24 September, TD Bank was fined nearly $90 million from US federal authorities for failing to accurately detect and report suspicious banking activity arising from one of its clients, Scott Rothstein, who was charged with racketeering and having operated a large Ponzi scheme to the tune of $900 million. Suspicious activity was detected by Read More

25 Sep
2013

Fatal error: Are market controls under regulatory control?

  • 25th September 2013
  • RegTechFS

What lessons have been learned from the NASDAQ outage and will the SEC’s latest response stop it from happening again? Following the NASDAQ outage in August, the SEC announced that Chair White had “stressed the need for all market participants to work collaboratively – together and with the Commission – to strengthen critical market infrastructure and improve its Read More

24 Sep
2013

Floating NAV sinks in: Responses highlight concerns for SEC MMF proposals

The Securities and Exchange Commission (SEC) recently proposed to change both the reporting structure for money market funds (MMFs) and the transparency behind the net asset value (NAV) calculation, to make it easier for MMF investors to understand the risk involved in their investments. In particular, this involves new reporting requirements and changes to the Read More