The Office of the Comptroller of the Currency announced today that William A. Rowe has been named its Chief Risk Officer, effective immediately. Mr. Rowe fills the position vacated by Linda Cunningham in April 2017 when she retired.
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The Bangko Sentral ng Pilipinas (BSP) reminded yesterday banks and financial institutions on managing operational risks through stricter internal controls as well as rotation of employees. BSP Deputy Governor Chuchi Fonacier said banks should comply with Circular 900 issued in 2016 pertaining to the guidelines on operational risk management.
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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.

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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.

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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.

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David Kemp contributes to business development in EMEA for Hewlett  Packard Enterprise Software. By profession he is a Solicitor of the Supreme Court of England and Wales.  After external counsel experience, he spent ten years in Insurance Broking in London before joining ABN Amro Bank in 1990. With nineteen years there as a corporate banker and in-house counsel & compliance officer, he joined Hewlett Packard Enterprise (HPE) effectively in March 2010. Currently he is using his experience to advance the GDPR programme of HPE, amongst other facilities.

The Financial Conduct Authority (FCA) has launched a consultation (attached) on proposals to create a new category within its premium listing regime to cater for companies controlled by a shareholder that is a sovereign country. In February this year the FCA launched a discussion paper (DP 17/2) ‘Review of the Effectiveness of Primary Markets’.  The paper discussed the role of listed primary markets as an important component of the broader capital markets landscape, and the structure of the UK listing regime in supporting that role.

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The Financial Conduct Authority (FCA) has today published the interim findings of the Retirement Outcomes Review. Launched in July 2016, this is the first major comprehensive study into how the retirement income market is changing since the pension freedoms.
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The Fed’s Harker wants to take a patient approach on hiking rates but is prepared to start the balance sheet runoff now. “Let’s start the process of ceasing reinvestment,” he told the WSJ. “Let’s see how the market reacts to that, and then consider the third rate increase this year-whether that occurs or not.”
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1. We, the Leaders of the G20, strongly condemn all terrorist attacks worldwide and stand united and firm in the fight against terrorism and its financing. These atrocious acts have strengthened our resolve to cooperate to enhance our security and protect our citizens. Terrorism is a global scourge that must be fought and terrorist safe havens eliminated in every part of the world.
2. We reaffirm that all measures on countering terrorism need to be implemented in accordance with the UN Charter and all obligations under international law, including international human rights law.

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