DTCC Chief Security Officer Stephen Scharf says traditional focus on preventative measure at individual firm level are no longer enough; closer collaboration is needed to develop collective response and recovery plans.
Financial regulation is beginning to mirror the boom and bust cycles of the market as participants lobby regulators to loosen capital requirements – this at what appears to be the peak of the post-crisis economic growth cycle.
Proposed changes by the Trump Administration to the Volcker Rule are already controversial. Linking cause and effect to risk management have only resulted in an excessively complex regulation that is proving difficult to reform in a “too big to fail”...
Criminal charges brought by Australian regulators against bankers in the ANZ cartel case represent a challenge against practices traditionally considered the norm in global underwriting syndicate culture.
Financial institutions are at risk from the inherently opaque nature of cryptocurrency transactions, and require robust compliance programs to mitigating legal, financial, reputational, and regulatory risks.
Every banking system at the bottom of the financial pool crosses paths eventually, and in desperate times only a tangled morass of regulations versus sovereign imperatives awaits.
Regulator publishes final guidelines but no change in capital requirements; companies seeking inclusion in first batch of virtual bank applications can apply by 31 August.
Whether it is geopolitical tensions in North Asia, the UK’s exit from the European Union or new U.S. trade policies, globalisation would appear to many to be in retreat in many regions of the world -- but this is not...
MAS has unveiled its roadmap for the transformation of the collection of data from financial institutions. And while there may be clear benefits, providing all data in machine readable format by MAS’ planned deadline will be challenging.
FRTB will force banks to change their operating models, bringing them out of product and trading desk silos. Bank trading culture and the trading desk concept may need to evolve to accommodate a wider picture of risk taking.
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