A-Team Insight Author: sharon
Consumer Duty is Transforming Wealth Management but there is Still Work to be Done
By Suman Rao, UK Managing Director, Avaloq. A year on from the implementation of Consumer Duty, its impact on the UK wealth management industry has been undeniable, causing a positive cultural shift across the industry as firms modify their practices and behaviours to ensure they provide fair value for clients. Navigating the regulation’s requirements has...
CrowdStrike Incident Tests Operational Resilience
In an ironic twist of fate, the cybersecurity company CrowdStrike, best known for protecting systems from digital threats, recently became the source of a widespread operational resilience event, when a routine update to its Falcon Sensor security software caused chaos by crippling approximately 8.5 million Microsoft Windows systems worldwide including major banks and investment firms....
One Trading Secures OTF License for Crypto Derivatives Trading in the EU
One Trading, the European crypto-asset exchange, has obtained an Organised Trading Facility (OTF) License from the Dutch financial market regulator AFM, establishing itself as a MiFID II trading venue. This is the culmination of a multi-year effort between One Trading, AFM and the Dutch Central Bank (DNB) to bring crypto futures onshore within the EU....
Warsaw Stock Exchange Confirms Roll-Out Date for New Trading System
The Management Board of the Warsaw Stock Exchange (GPW) has confirmed that its new trading system, the Warsaw Automated Trading System (WATS), will go live on 10 November 2025. GPW’s project to develop a new proprietary trading platform commenced in July 2019, at an initial estimated capex cost of PLN 90 million, and with a...
AI in FinCrime Prevention – 23 Thought Leaders to Watch in 2024
Financial crime (FinCrime) has escalated into a formidable challenge for global financial institutions, with estimated costs soaring to staggering levels. Regulatory bodies worldwide, including the U.S. Federal Reserve and the European Central Bank, have intensified scrutiny over financial institutions with compliance failures in this high-stakes environment coming with hefty penalties including fines reaching into the...
Automation Key to Overcome Implicit Cost Conundrum as PRIIPs Predicament Looms
By Kifaya Belkaaloul, Head of Regulation, NeoXam. With just over 150 days until the Packaged Retail and Insurance-based Investment Products regulation (PRIIPs) changes, the financial industry must confront a looming implicit costs conundrum – and fast. The update to the regulatory framework on January 1 seeks to ensure that asset servicers undertake a more detailed...
Citigroup Fine Shows Importance of Having Robust Data Setup
The US$136 million fine meted out to Citigroup for data irregularities dating back to 2020 should serve as a warning to all financial institutions that robust data management is essential to avoid sanctions amid tougher regulatory regimes. The Federal Reserve and Office of the Comptroller of the Currency (OCC) jointly imposed the penalty on the...
RegTech Insight Q&A: UPI Rollout for OTC Derivatives by DSB
It’s been a busy year at the Derivatives Service Bureau (DSB) with the successful rollout of the unique product identifier (UPI) for OTC derivatives. RegTech Insight (RTI) caught up with Emma Kalliomaki, Managing Director of DSB and the Association of National Numbering Agencies (ANNA), for a Q&A to better understand how supports industry-wide standards adoption...
Crafting an Effective Data Strategy to Unlock Innovation
By Kelly Attrill, Head of Advisory & Consulting APAC at Lab49. Data can be both an asset and a liability. Used correctly, it can transform an organisation’s ability to unlock value and enable innovation. However, if data is mismanaged it can have catastrophic consequences. In financial services, firms recognise that the ever-increasing volume of data...
Data Warning After UK Signals New Law Covering AI Use
Financial institutions operating in the UK must begin ensuring the integrity of their data estates after the newly elected government signalled plans to forge a potentially far-reaching AI bill. Leaders of two large data management companies said that any new technology law could usher powers of intervention if AI models and processes are seen as...