As summer begins to draw to a close we are fast approaching a particularly busy time for compliance professionals of financial services firms. The article from NRF provides an overview of some of the key financial services initiatives that are set to make in-trays even deeper when compliance staff return Read more…
By Jason Sumner ESMA has published four reports focused on how the EMIR framework has been functioning and providing recommendations to the European Commission’s (EC) EMIR Review. Three of the reports are required under Article 85 of EMIR, and cover non-financial counterparties (NFCs), pro-cyclicality and the segregation and portability for Read more…
By Jason Sumner In a recent article Small asset managers may be forced out of the market by MiFID II, according to think tanks New City Initiative (NCI) and Open Europe. The NCI has said that EU regulations will introduce significant costs for UK asset managers and has called for the new Read more…
By John Higgins The false accounting issues now emerging from Toshiba are being attributed by some commentators to some very specific Toshiba factors: intense competition in some of the giant’s core markets, pressure to produce strong results from new products to mitigate the impact of the Fukushima nuclear incident, and Read more…
By Jason Sumner The CBI survey reveals that banks cannot keep up with regulation costs. Director of economics at business organisation, Confederation of British Industry (CBI), Rain Newton-Smith, has commented on recent research that the organisation conducted and believes that the UK government should concentrate more on retaining their position as financial centre of Read more…
By Jason Sumner Setting up a boutique is by no means a walk in the park. Perhaps the greatest challenge a buy-side founder can face is how to set up shop in a fast yet bulletproof way. A raft of new wealth management businesses have launched over the past few Read more…
Global spending on collateral management technology should reach $331m by the end of this year according to a survey. In a survey this week the Aite Group said spending on collateral management technology is set to significantly increase over the next few years due to regulatory changes. See full article here Read more…
Following reports of the disappearance of millions of pounds due to a technical problem at Royal Bank of Scotland earlier in June, the bank have decided to invest a further £150 million a year in order to improve their IT systems. See full article here
Buy-siders at this year’s Euroclear Collateral Conference have said they are not clearing OTC derivatives in Europe until regulators make it mandatory. With the rollout of new central clearing rules for OTC derivatives now penciled in for early 2016, the general consensus among panelists and the audience was that they Read more…
The Joint Committee of the European Supervisory Authorities (ESAs) published its fifth Report on Risks and Vulnerabilities in the EU Financial System. Overall, the report found that in the past six months, risks affecting the EU financial system have not changed in substance, but have further intensified. The main risks Read more…