Digitalization, including deployment of robo- tools, to ensure growth in wealth management

05 February 2017

Michel Klompmaker

The Italian Objectway, with offices in the UK, Belgium and South Africa recently held its international customer conference in Amsterdam, where your platform was also invited. The event began with an exclusive visit to the famous Van Gogh Museum, where Luigi Marciano, President & CEO of Objectway, proudly presented the new company brand on one of the walls. Continue reading…

Collusive tendering as a priority of public competition law enforcement

03 February 2017

by Jasper De fauw

On 31 January 2017, the Belgian Competition Authority (“BCA”) published a practical guide for buyers of public authorities on cartel behavior of bidders in public procurement (so-called “bid rigging” or “collusive tendering” practices). The BCA’s accompanying press release states that fighting bid rigging in public procurement is one of the main priorities in its enforcement policy. The guide provides examples of warning signs which might indicate potential collusive behavior of public procurement bidders. It also describes which market conditions might possibly facilitate bid rigging and gives practical tips and tricks to buyers on how to avoid potential collusion. Continue reading…

Deutsche Bank fined by FCA

01 February 2017

The Financial Conduct Authority (FCA) recently fined Deutsche Bank AG (Deutsche Bank) £163,076,224 for failing to maintain an adequate anti-money laundering (AML) control framework during the period between 1 January 2012 and 31 December 2015. This is the largest financial penalty for AML controls failings ever imposed by the FCA, or its predecessor the Financial Services Authority (FSA).
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Twitter monitoring tool to keep up with The Trump: The Wolf of Wall Tweet

26 January 2017

Since the announcement of Donald Trump’s election in the United States and the Twitter tirade created by his fired from the hip Tweets, major city banks and trading houses have rushed to install highly sophisticated banking-compliant Twitter monitoring services to gain an advantage over their competitors. His impromptu tweets, that have the power to disrupt and move markets instantly, have panicked investment firms dedicated to proprietary trading. His social media rantings have prompted them to look for options to enhance their ability to quickly position assets in an advantageous direction following a tweet from The Trump.
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How Data in Banking and Fintech is Bringing in New Risks

17 January 2017

by Joe Biancalana

Data is playing an increasingly central role within banking. It is key to developing intelligent omnichannel customer interactions, tailored to suit the needs of individuals and households. Data is also powering new technologies, such as AI and bots, which are in turn helping to improve operational efficiency and reduce risks. Data is even enabling new banking models, such as peer-to-peer lending, crowdfunding and the sharing economy.  Continue reading…

Launch of Italian version on Monday 30th January

17 January 2017

The preparations for the launch of the Italian version of the Risk & Compliance Platform Europe website are well underway. This month, our European platform will also be available in Italian on Monday 30th January. Italy ranks as number 5 in the G8 (the wealthiest countries in the world), number 7 economically in the world in terms of Gross National Product and, we should certainly not forget that Italy, together with the Benelux countries France and West-Germany, was one of the six countries that founded the EEC, the European Economic Community (Common Market), the predecessor of the EU. Continue reading…

Risk managers urged to take action on new EU data legislation

10 January 2017

Risk managers should prepare now for new EU data protection legislation that will come into force next year, Airmic and law firm BLM have urged. The new regulations are more demanding than current rules and can result in much larger fines. Risk managers are being warned that the changes could take time to implement. The General Data Protection Regulations (GDPR), approved by the European Parliament last year, will automatically become law in EU countries in May 2018.  Continue reading…