Posts Tagged Regulatory compliance

Dealing with regulatory-led technology transformation in Financial Services

The pace and scale of regulatory change has been unprecedented since the 2008 financial crisis and the rate of that change is still continuing. The Financial Services (FS) industry has seen an introduction of a myriad of regulations over this period. Some of the most recent ones including MiFID2 (Markets in Financial Instruments Directive) and PRIIPS (Packaged Retail and Insurance-Based […]

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Voice recording technology and the challenges facing the financial services market

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How to address the major GDPR implications? Our key guidelines

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Will the service integrator be more prevalent within Financial Services in the future?

The Financial Conduct Authority (FCA) has recently provided guidance on outsourcing arrangements in their Consultation Guidance 15/6 ‘Proposed guidance for firms outsourcing to the ‘cloud’ and other third-party IT services’.  What is particularly interesting within the detail is the FCA’s take on how often outsourcing arrangements within financial services organisations are complex or have become increasingly complex within the wider […]

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Stress testing challenges the resilience of core IT banking systems

It is well reported that the Prudential Regulation Authority (PRA) has written to a number of leading banks in the UK to provide details of the availability, resilience and recovery capabilities of their core IT systems. In addition, it is widely expected that the Financial Conduct Authority (FCA) will slap a substantial fine on the Royal Bank of Scotland for […]

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Regulating High Frequency Trading

The European Securities and Markets Authority (EMSA) has stated in its ‘Report on Trends, Risks, and Vulnerabilities’ that High Frequency Trading (HFT) is a market vulnerability. ESMA identified that: ‘HFT activity accounts for around 22% of value traded and 60% of orders, as measured for the sample in the period May 2013’. The value of HFT activity in 2014 is […]

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Financial regulation: IT changes demand collaboration

The amount of financial regulation and the pace of regulatory change has increased significantly in the last 5 years. Financial organisations are facing a more challenging regulatory environment as a result of increased public and political scrutiny. This has made it tougher for organisations to meet customer needs, maintain profitability and increase revenues while achieving regulatory compliance. Historically, the IT […]

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Preparing for the FCA’s review of IT systems

“UK regulators: We will be CHECKING UP on banks’ IT systems” – Outlaw “UK banks a long way from improving antiquated IT systems: PRA director” – Finextra “Bank IT systems come under regulatory spotlight” – Finextra Such have been the news headlines in the last few weeks since the ‘Risk Outlook’ report by Financial Conduct Authority (FCA) came out on […]

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Bridging the compliance & operational gap: An enabler for profitability & growth

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Regulatory compliance: moving from point solutions to transforming the business.

Financial institutions are facing a more challenging regulatory environment as a result of increased public and political scrutiny. This has made it tougher for organisations to meet customer needs, maintain profitability and increase revenues while achieving regulatory compliance. The pace of regulatory change has traditionally involved adopting a ‘point solution’ approach to regulatory technology. Whilst that has helped to address […]

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