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European Parliament Adopts Banking Reform Package – Including Revised Rules on Capital Requirements (CRR II/CRD V) and Resolution (BRRD/SRM)

It has taken almost two years, but the European Parliament on April 16 finally endorsed the banking reform package proposed by the European Commission back in November 2016: covering key elements including the revised rules on capital requirements, and updating the framework of harmonised rules established in the wake of the financial crisis (the so-called…

Australia To Invest $390m in Financial Regulation

Australia’s new budget will include an additional AUD550 million ($390 million) to boost funding for policing the country’s financial sector, according to Reuters, citing Treasurer Josh Frydenberg. The funds will finance the implementation of recommendations issued earlier this year by a government-appointed Royal Commission enquiry into financial sector greed and malpractice. The recommendations include a…

Union of Arab Banks Calls for Increased RegTech Investment

FinTech has been enthusiastically adopted by local banks but the Middle East region is lagging behind on Regtech investment, warned Wissam Fattouh, who is also Chairman of the MENA Financial Crime Compliance Group. Speaking at a MENA Regulatory Summit in March, Fattouh urged greater investment in regtech applications, without which he warned that firms would…

A Catalogue of Errors: Regulators Fine Standard Chartered Bank a Further $1.1bn for AML Violations

The UK’s Financial Conduct Authority (FCA) has fined Standard Chartered Bank £102.16 million for Anti-Money Laundering (AML) breaches in two higher risk areas of its business, the regulator announced last week.  US authorities have also fined the bank around $947 million over allegations that it violated international money laundering sanctions against countries including Iran. The…

Singapore FinTech Association Forms Regtech Sub-Committee

After almost a year of gestation, the Singapore Fintech Association has formed a new RegTech Sub-Committee, with an official launch currently being planned for May 30, 2019. Its mission is to foster the RegTech ecosystem in the financial sector in Singapore through talent development, engagement with regulators, engagement with Industry, and nurturing the development of…

RegTech Suppliers Guide 2019

Welcome to our brand new RegTech Suppliers Guide. This unique guide provides detailed data profiles on close to 100 suppliers in the RegTech world, offering you an unrivalled selection of solutions for your most pressing financial regulatory challenges. The aim of the A-Team’s RegTech Suppliers Guide is to steer you through this complex marketplace, offering…

CFTC Provides Further Brexit-Related Market Certainty

The US Commodity Futures Trading Commission (CTFC) stepped into the Brexit debate this week with a motion to provide greater certainty to the global marketplace in the event of a no-deal Brexit. The concern is that in the event of the UK leaving the EU without a negotiated withdrawal agreement, affected swap dealers and major…

A-Team Group Releases Shortlist for 2019 RegTech Insight Awards

A-Team Group has released a shortlist of potential winners for its hotly anticipated third annual RegTech Insight Awards, to be held in the City of London on May 3, 2019. The awards recognise excellence and innovation in the provision of technology solutions to meet regulatory requirements within the financial services industry, and are uniquely designed…

EVIA Calls for Clarification and Consistency Around Scope of MiFID II

Following the German Finance Ministry’s recent call for feedback on MiFID II and MiFIR, one year on from implementation, the European Venues and Intermediaries Association (EVIA, formerly known as the Wholesale Markets’ Brokers Association), has raised numerous concerns around the lack of clarity and consistency of regulatory interpretation across markets. Despite praising the benefits of…

Automated Software is Replacing Human Decisions, Finds ESMA

A combination of supply-based developments and demand-based needs are potentially transforming the way financial institutions comply with regulation and supervisory authorities oversee market participants, warned the European Securities and Markets Authority (ESMA) in a new report released on March 14, 2019. The regulator recently carried out an analysis of the regulatory and supervisory technologies currently…