The Financial Conduct Authority (FCA) has launched a consultation regarding the government-proposed Office for Professional Body AML Supervision (OPBAS). The consultation sets out draft expectations about how professional body supervisors can meet their obligations in relation to AML supervision.
Five federal financial regulatory agencies today announced that they are coordinating their respective reviews of the treatment of certain foreign funds under section 619 of the Dodd-Frank Act, commonly known as the Volcker Rule, and the agencies’ implementing regulations.
Transparency International has released its 2016 Corruption Perceptions Index (CPI). The CPI ranks 176 countries and territories on how corrupt their public sector is perceived to be. The index aggregates a number of different sources, including the views of business people and country experts. Transparency International says the results show “the urgent need for committed action to thwart corruption”. The scoring system ranges from 0 (highly corrupt) to 100 (very clean) and, in the index, over two thirds of countries and territories scored below 50 with a global average of 43. More countries received worse scores than better scores compared to their performance in the previous CPI. Continue reading…
The Financial Conduct Authority (FCA) has published on 17 July the Terms of Reference for the Investment Platforms Market Study, which sets out the scope and topics that will be covered.
While doing research and interviewing founders, co-founders and investors in Internet, high-tech and non-high tech start-ups and scale-ups for my new book in Dutch (see here) on start-ups and scale-ups, I realized that there were a lot of similarities between the first and the second Internet-bubble we seem to be experiencing now. One of the most interesting things is that start-ups and scale-ups seem to be ‘crashing’ for the same reasons for the last 25 years! From 1997 to 2001, I was working for ABN Amro Corporate IT Strategy and we were designing the new Internet-strategy for the Group. At the same time, all requests for funding (corporate venturing) and financing of Internet and other high tech ventures came to the Head Office to be reviewed. So we spoke with many large and small customers globally about their business plans and strategies. Continue reading…