Financial Regulatory Forum

Conduct risk: an overview

March 19, 2014

By Jane Walshe, Compliance Complete

LONDON/NEW YORK, Mar. 19 (Thomson Reuters Accelus) – Conduct risk is one of the hottest topics in financial services but what exactly is it? This article explores the various definitions of the concept, which can be hard to pin down, put forward by regulators and international standard setting bodies. It will be followed by other articles exploring the findings of Thomson Reuters Accelus’ recent Conduct Risk Report, which provide an industry benchmark showing the work firms are doing in relation to this important area.

U.S. regulation risks a “Balkanization” of cross-border capital

March 12, 2014

By Henry Engler, Compliance Complete

NEW YORK, Mar. 12 (Thomson Reuters Accelus) – The term “unintended consequences” has often been used by critics of U.S. regulatory reform when characterizing its complexities. While well-intentioned individually, when unleashed in unison the multiple requirements banks that face become highly unpredictable, including across national borders. (more…)

IA brief: Accuracy on assets reporting is crucial for upcoming amendment filing

March 11, 2014

By Jason Wallace, Compliance Complete

NEW YORK, Mar. 11 (Thomson Reuters Accelus) – The end of March is a crucial milestone of the annual compliance program for most registered investment advisers and exempt reporting advisers (ERA’s).

Compliance Insight: The challenge of implementing new international credit derivatives definitions

March 6, 2014

By Abel Picardi, Compliance Complete

NEW YORK, Mar. 6 (Thomson Reuters Accelus) – The International Swaps and Derivatives Association, Inc. (ISDA) has announced that its 2014 ISDA Credit Derivatives Definitions will go live from September 2014, creating a challenge for firms to implement the necessary operational and infrastructure changes.

“Big data” tools will improve regulatory oversight, FINRA’s di Florio says

February 25, 2014

By Stuart Gittleman, Compliance Complete

NEW YORK, Feb. 25 (Thomson Reuters Accelus) – The Financial Industry Regulatory Authority is developing a suite of “big data” information sources and analytics to improve regulatory oversight of securities firms, according to Carlo di Florio, FINRA’s chief risk officer and head of strategy.

Regulators have several options in dealing with CLOs under Volcker rule – law firm analysis

February 20, 2014

 By Henry Engler, Compliance Complete

NEW YORK, Feb. 20 (Thomson Reuters Accelus) – In assessing what to do with collateralized loan obligations under the Volcker rule, regulators have several options, some that are better than others for the banking industry, a leading law firm advised clients on Monday this week.

Volcker rule enforcement: Regulators attempt a united front

February 19, 2014

By Henry Engler, Compliance Complete

NEW YORK, Feb. 19 (Thomson Reuters Accelus) – The question of which regulator will take the lead in enforcing the complex Volcker rule took center stage this week, as U.S. lawmakers voiced concern over the lack of clear leadership among the five agencies in charge of the statute.

Big banks fall short on data requirements, but regulators may share in the blame

February 11, 2014

By Bora Yagiz, Compliance Complete

NEW YORK, FEB. 11 (Thomson Reuters Accelus) – An international study for a bank regulators’ group has found deficiencies in the way banks measured and reported counterparty exposures. But the regulators themselves may share responsibility for the shortcomings, as they have provided little specific guidance for the banks.

IA brief: SEC examiners give first look at hedge fund exam findings

February 11, 2014

By Jason Wallace, Compliance Complete

NEW YORK, Feb. 11 (Thomson Reuters Accelus) – Last week, representatives of the Securities and Exchange Commission gave the first of many reports concerning its “presence exam” initiative for conducting initial regulatory exams of private advisers, and reported a lower rate of deficiencies compared with regular exams. The panel highlighted exam findings and staff observations concerning investment conflicts, marketing, valuation and custody.

Financial Regulation in 2014: The Dust Hasn’t Settled For Compliance

January 30, 2014

By Compliance Complete, Thomson Reuters Accelus staff

The year 2013 saw a raft of new legislation stemming from regulators worldwide and 2014 looked like the year in which the dust would settle and that compliance professionals could spend focusing on implementing those changes. However, this has not been the case and compliance staff are still operating in a changing environment, where political pressures and cultural inertia mean that it is hard to pause for breath.