Tony de Bree

Tony de Bree

Senior Management Consultant

FinTech: How To Make Money In RegTech ?

21 October 2016

Since Deloitte published the report on RegTech is the New FinTech, a lot of people have discovered the fact that large Banks and other Financial Institutions are spending a HUGE amount of money on Compliance and not to forget fines for not being compliant. Although it is true that there is a lot of new regulation coming towards the Financial Services Industry, that is not the reason why they spend so much money on Compliance.

Why do large banks spend so much money on Compliance and KYC ? The main reasons why large Financial Institutions are paying so much money on Compliance have nothing to do with the Regulators. Why ? Continue reading…

The commercial implications of MiFID II for securities exchanges’ data businesses

21 October 2016
Knowledge Base

by Jorden Veenstra

As with most European legislation MiFID I contained a commitment by the European Commission to re-examine the implementation and impact of MiFID I after a number of years. MiFID II is meant to address the shortcomings of the original MiFID, to extend the scope of MiFID, to respond to lessons learned during the financial crisis and to provide for market and technological developments since 2004. Let us take a closer look at how MiFID II. due for implimentation on January 3, 2018, will impact securities exchanges’ data businesses.
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Follow-up Panama Papers

19 October 2016

The Panamanian government has contracted communications and consulting firm Bellwether Strategies to “promote Panama’s commercial and diplomatic objectives” and to provide centralized “crisis communication” strategies for the government’s response to the Panama Papers. Panama’s president Juan Carlos Varela and ambassador to the U.S. Emanuel Gonzalez-Revilla will as the officials overseeing Bellwether’s work.
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Final report of investment and corporate banking market study

19 October 2016

The Financial Conduct Authority (FCA) has today published the final findings of its investment and corporate banking market study and set out a targeted package of remedies to ensure effective competition in the market. The final report confirms the findings of the interim report published in April 2016. It finds that whilst many clients feel well served by primary capital market services there were some areas where improvements could be made to encourage competition, particularly for smaller clients.

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Penalties on Sonali Bank (UK) Limited and its former money laundering reporting officer

12 October 2016

The Financial Conduct Authority (FCA) has fined Sonali Bank (UK) Limited (SBUK) £3,250,600 and has imposed a restriction, preventing it from accepting deposits from new customers for 168 days. It has also fined the bank’s former money laundering reporting officer (MLRO), Steven Smith, £17,900 and prohibited him from performing the MLRO or compliance oversight functions at regulated firms. Continue reading…

Whitepaper

 

In Search of a Single Version of the Truth: Adopting a Universal Data Model

08 October 2016

Firms today require access to unprecedented volumes of data to meet growing demands for transparency and integrity across all their business activities. Operational needs and regulatory requirements are driving rigorous data sourcing, collection and integration efforts. The task is made more complex and expensive by the need for data that is consistent with the business, finance and risk management activities of the institution. In short, the need to obtain the much discussed ‘single version of the truth’ has never been more pressing.

Our newest paper looks at the challenges of addressing multiple regulatory requirements while striving for increased profitability. It explains how firms can normalize their internal data collection processes – and retain the flexibility they need to support the finance and risk functions, and business activities across the enterprise – by adopting a universal data model.

Nordea received the final capital decision

03 October 2016

Nordea has on 30 September received the final Capital Joint Decision. The expected Common Equity Tier 1 ratio requirement by 30 September is 17.3%. The Common Equity Tier 1 requirement of 17.3% includes 85 bp (equivalent to a Common Equity Tier 1 requirement of EUR ~1.2bn and a total Own funds requirement of EUR ~1.5bn) due to the PD inspection performed by the college of supervisors (FSAs) during 2016 as well as the corporate risk weight memo (FI Ref. 15-13020).
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Legacy and regulation: two main obstacles between financial institutions and the needs of the digital customer

30 September 2016

by Adam Oldfield

Technological innovations have transformed people’s expectations of the customer experience. With just a few taps on the Uber mobile app, consumers can have a taxi collect them from wherever they are, watch it on the app head towards them and pay without needing cash. Amazon online shopping provides tailored recommendations based on previous purchases and product search history. And it’s getting difficult to find a brand that isn’t available to its customers 24/7 on social media.
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The importance of individual accountability at the most senior level of organisations

28 September 2016

The Financial Conduct Authority (FCA) will mark six months since the implementation of the Senior Managers’ and Certification Regime by providing feedback on implementation so far and proposing measures to further strengthen the regime. The proposed rules will reinforce the importance of individual accountability at the most senior level of organisations.

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