Financial Firms Need Tech To Meet Mounting Regulatory Requirements
The massive #requirements of regulators will require that #financial institutions develop technical solutions.
Financial Technology
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Major European FIs Not Prepared for Regulatory Deadline of MiFID 2
EXCLUSIVE – A new set of financial regulations in the form of #MiFID II has arrived in Europe today, and not everyone is #prepared. MiFID II (or Markets in Financial Instruments Directive 2) is a massive set of regulations (7,000 pages) geared towards asset managers and brokers as well as traders of stocks, ETFs and […]
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Shares of U.S.- Listed Chinese Online MicroLenders Waver After Regulatory Crack Down
#Chinese law makers suspended #regulatory approval for new micro-lenders in the region on Tuesday, as well as restricted new approvals, issuing a notice on the matter yesterday that sent U.S.-#listed Chinese stocks tumbling. The “top tier” government body’s notice told provincial governors to halt approval for new #online micro-lenders, according to a report by Reuters. […]
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Invest in Data Management to Fight Regulatory Challenges, Survey Says
Financial service executives are still concerned about #regulatory changes, but the best response is to improve #data aggregation and #management services. This is according to a #survey by AxiomSL, which found that 66% of regulatory executives believe their institution needs to make investments in data management. The majority of respondents noted that the best response […]
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Financial Firms Need Tech To Meet Mounting Regulatory Requirements
The massive #requirements of regulators will require that #financial institutions develop technical solutions.
Tom Groenfeldt – Financial Technology -
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Blockchain and the Capital Markets journey – Navigating the regulatory and legal landscape
#Blockchain #technology has the potential to revolutionise the profitability of #capital markets. The promise of risk mitigation, capital efficiency and operational benefits can only be realised through legal and #regulatory change.
Blockchain has generated significant interest in capital markets, as #FinTech start-ups, global #banks and other providers evaluate technology and potential use cases. Yet, many questions remain unanswered as to how blockchain, or other forms of distributed ledger technology (DLT), fit into the current regulatory and legal infrastructure.
To deliver viable and valuable solutions in the highly-regulated environment of capital markets, blockchain will need to navigate the legal and regulatory landscape – either by evolving solutions which conform or by engaging policymakers to reshape its current contours.
Innovate Finance has partnered with Hogan Lovells and EY to produce Blockchain and the Capital Markets Journey which outlines the legal and regulatory challenges of using DLT in capital markets, including the over-the-counter (OTC) derivatives market. This report focuses on the UK’s regulatory and legal environment as a stepping-stone to understanding analysis and issues that are similar to those in other jurisdictions.
We outline key themes that we believe will help shape the future architecture of blockchain:
- Informing industry, policymakers and regulators of the potential impact of legal and regulatory requirements on proposed DLT-use cases
- Providing regulatory insights about DLT for product providers, product buyers and investors (i.e., buy side firms)
- Providing recommendations to support regulatory action in the UK and EU to accommodate DLT solutions
- Proposing regulatory and industry collaboration at an early stage to realise its full benefits
- Building skills and knowledge across the industry to support the DLT ecosystem
In this report, we have helped to kick-start the debate by addressing important legal and regulatory questions that will impact the development of blockchain. Questions range from organisational to philosophical – all designed to encourage a wider agenda where regulators and law makers will collaborate with the industry to enact change.
Click here to learn more: http://www.ey.com/ukbanking
[linkedinbadge URL=”https://www.linkedin.com/in/imran-gulamhuseinwala-b673701″ connections=”off” mode=”icon” liname=”Imran Gulamhuseinwala”] is EY Partner – Head of FinTech
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How XBRL Is Being Used for Insurance Solvency 2 Regulatory Reporting
Image source EIOPA (European #Insurance and Occupational Pensions Authority) has issued a mandate for Insurance companies to report their #Solvency 2 status using XBRL and as of January this year the mandate is in place. This is a good example of using XBRL for RegTech, to help regulators find thatRead More
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UK Blockchain Projects Near Regulatory Approval
UK regulators are reportedly moving forward with efforts that would find #blockchain firms exiting a #FinTech sandbox program.
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Back to growth despite the triple-witching in banking & with a AAA regulatory recipe
What I heard at the Swiss International Finance Forum Last week I attended the Swiss International Finance Forum organized by NZZ konferenzen and with a theme “#Back to #growth”. Sergio Ermotti, CEO of UBS reminded the audience that all the &8220;Regulations that are killing us&8221; (us the regulated #banks) have succeeded in reducing the systemic…Read more Back to growth #despite the triple-witching in #banking & with a AAA #regulatory #recipe
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