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Doing MiFID II right – shaping your what AND how
Archive
13 Nov
2014

Doing MiFID II right – shaping your what AND how

  • 13th November 2014
  • RegTechFS

JWG analysis. In our last article on this topic, we spelt out our views on regulatory implementation standards.  And the first standard that needs to be defined is how you’re going to organise your work programmes. The shape of your MiFID II programme MiFID II is far beyond just a few ‘tweaks’ to MiFID I.  So much Read More

11 Dec
2013

Banks spared prop trading ‘apocalypse’ … for now

  • 11th December 2013
  • RegTechFS

Today, a final version of the long-awaited Volcker Rule has been published by the five US agencies involved in its drafting.  The rule as finalised is something of a victory for banks owing to multiple broad exemptions and an extension of the timeline.  However, there are many questions still outstanding, and implementation will be a Read More

22 Jul
2013

Stuck inside the ring-fence? Just marry a millionaire

On Thursday, consultation opened on secondary legislation from the Banking Reform Bill, which centres on implementing the Vickers recommendations to ring-fence retail banking activities. The legislation will have potentially large consequences for KYC on-boarding, risk and corporate governance. Banks are required to identify and report their ‘core’ and ‘non-core’ deposits. Core deposits must be held Read More

28 Jan
2013

“Electrifying” Vickers

  • 28th January 2013
  • RegTechFS

The soon-to-be-published Banking Reform Bill (BRB) is the Parliamentary Commission on Banking Standards’ attempt to implement the recommendations of the Independent Commission on Banking (ICB). These recommendations have come to be known as the Vickers rules, after their chief advocate, Sir John Vickers. The Vickers rules propose the ‘ringfencing’ of high-street banking functions (e.g. deposit taking) to separate Read More

12 Oct
2012

A long road from theory to policy

  • 12th October 2012
  • RegTechFS

The industry has been waiting for the “high-level” opinions of the Liikanen Report, and its prescriptions for reform of the turbulent European banking sector.  The reforms, while suggestions rather than binding Policy (as Barnier continues to remind everyone) call for huge changes to how European banks operate. The biggest development of these is a Volcker-style Read More