A Future of Finance webinar on November 17th [from 2pm to 3pm UK time]. The global Pandemic tested established operational resilience procedures in unexpected ways. It made redundant some conventional solutions, accelerated the digitisation and digitalisation that regulators were already fretting about, and prompted a concerted push by regulators around the world for financial institutionsContinue reading “The fastest and cheapest way to be operationally resilient is to change the operating model (17th November 2022)”
The global Pandemic put to the test operational resilience plans developed to deal with non-viral types of both natural (earthquakes, fire and flood) and unnatural (chiefly terrorist attacks) disasters. It quickly exposed the continuing reliance of many financial market institutions and infrastructures on face-to-face exchanges and manual processing, surveillance and authorisation procedures. Employees struggled toContinue reading “The fastest and cheapest way to be operationally resilient is to change the operating model: Article”
A summary of the webinar of July 14 2022 entitled Why the case for regulating cryptocurrencies is becoming unanswerable. SUMMARY 0.25: What is the case for regulating cryptocurrencies? The dream of Satoshi Nakamoto – the replacement of inflationary central bank-issued fiat currency transformed by the lending activities of banks into commercial bank money by aContinue reading “Why the case for regulating cryptocurrencies is becoming unanswerable”
Regulatory reporting and financial crime compliance are data problems too In a modern economy, the most important costs are transaction costs. And the cost of compliance is fast becoming a major tax on financial businesses. Deloitte has put the cost of regulatory reporting in the banking industry alone at 10 per cent of operating costs,Continue reading “Regulatory reporting and financial crime compliance are data problems too”
A business-like approach to regulating digital assets is working for Gibraltar In January 2018, Gibraltar became the first jurisdiction on the planet to pass into a law a regulatory framework to accommodate financial services based on blockchain. It has helped to attract to the Rock more than a dozen digital financial services companies, including crypto-currencyContinue reading “A business-like approach to regulating digital assets is working for Gibraltar”
Crypto-currency trading provides returns commensurate with the volatility of the asset class, but not many people have subjected the characteristics of the investment to formal analysis. One person who has is Dr Martin Angerer, Assistant Professor of Finance at the University of Liechtenstein in Vaduz.
It is not surprising that RegTech attracted so much money and so many entrepreneurs as the Fintech start-up boom took off from 2012. Banks, asset managers and insurers were hit by successive waves of regulation in the long aftermath of the great financial crisis of 2007-08, and automation of transaction monitoring and reporting, KYC, AML, CFT and sanctions screening checks, data protection, mis-selling risk, cyber-security and even operational resilience was an easy sell.
Future of Finance interview with Greg Medcraft, Director of the Directorate for Financial and Enterprise Affairs at the OECD. Greg spoke with Dominic Hobson about the OECD’s Blockchain best practice guidance; Regulation around tokenisation; Digital Identity
March 2020 was an important date in the history of digital identity. That month the Financial Action Task Force (FATF), the international regulatory organisation that has for 30 years set the global standards in fighting financial crime, published a paper which stated that digital identity had “reached an inflection point.”
FIRST STEPS ON THE LONG JOURNEY TO PROGRAMMABLE COMPLIANCE (22nd April 2021) A FUTURE OF FINANCE WEBINAR WITH EXPERT PANELLISTS IN DISCUSSION WITH A LIVE AUDIENCE Thursday April 22 2021, 14.00 – 15.00 UK time RegTech is one of the more predictable targets of the FinTechs. The sheer volume of additional regulation imposed on the financial servicesContinue reading “FIRST STEPS ON THE LONG JOURNEY TO PROGRAMMABLE COMPLIANCE (22nd April 2021)”