The Financial Conduct Authority (FCA) has today published near final rules on the implementation of the Markets in Financial Instruments Directive (MiFID) II. These include changes to the trading of financial instruments including issues affecting trading venues, transparency of trading and algorithmic and high frequency trading. The FCA is also providing an update on the taping of telephone conversations by retail financial advisers.
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Management and technology consultancy BearingPoint, a leading provider of Risk and Regulatory Technology (RiskTech/RegTech), has been recognized as “Central Banking Consultancy and Advisory Services Provider of the Year 2017” for its expertise in supporting central banks with the collection, analysis, and dissemination of their supervisory data. Continue reading…

With the acquisition of the business activities of Pritle, BinckBank expands its digital wealth management offering and provides an impulse toward the realization of its European growth ambitions in investment services. Pritle operates in The Netherlands, Belgium, Austria and Switzerland. This footprint is complimentary to the geographic reach of BinckBank. Pritle offers a unique combination of scalable, state of the art technology combined with a highly driven start-up culture. Together with the client base of BinckBank, this formula will accelerate growth within the market of highly accessible automated portfolio management.

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The Financial Stability Board (FSB) today published a letter from Mark Carney, Chair of the FSB, sent to G20 Finance Ministers and Central Bank Governors ahead of their meeting in Baden-Baden from 17-18 March. In his letter, the FSB Chair highlights the good progress made in implementing the post-crisis reforms, as a result of which the global financial system is moving from a state of fragility to greater resilience.
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The Basel Committee on Banking Supervision recently issued a consultative document on the Identification and management of step-in risk. The proposed framework will help to mitigate potential problems at shadow banks from spilling over to banks. This work is part of the G20’s initiative to strengthen the oversight and regulation of the shadow banking system with the aim of mitigating systemic risks, in particular, those arising from banks’ involvement with shadow banking entities.
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The Financial Stability Board (FSB) today published a consultation document on Proposed governance arrangements for the unique transaction identifier (UTI). The consultation sets out proposals for the governance arrangements for a global UTI, as a key harmonised identifier designed to facilitate effective aggregation of transaction reports about over-the-counter (OTC) derivatives markets.
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by Ken van Ierlant

Virtually every firm in every industry is being shaken up by the digital revolution. No chief executive can ignore the onslaught of mobile computing, big data, artificial intelligence and the like. These new technologies offer the promise of huge efficiency gains, but also the threat of being walloped by some upstart from Silicon Valley. This according to an article in the economist What we have seen over the last 2-3 years in the european market is a hype around Digital Transformation primiraly as a Digital CRM and big data topic driven by IT consultants and system integrators with the promise to deliver short term topline growth. Continue reading…

Risk managers should take a more proactive approach to understanding the potential for conflicts of interest in the business models adopted by their brokers, Airmic has urged. In a report to be published this month, the association warns that the increasing scale and complexity of broker market remuneration agreements has led to rising concern among its membership.
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This report presents the results of the Basel Committee’s latest Basel III monitoring exercise based on data as of 30 June 2016. The Committee established a rigorous reporting process to regularly review the implications of the Basel III standards for banks, and it has published the results of previous exercises since 2012. Data have been provided for a total of 210 banks, comprising 100 large internationally active banks. These “Group 1 banks” are defined as internationally active banks that have Tier 1 capital of more than €3 billion, and include all 30 banks that have been designated as global systemically important banks (G-SIBs). The Basel Committee’s sample also includes 110 “Group 2 banks” (ie banks that have Tier 1 capital of less than €3 billion or are not internationally active).

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