Tag: Compliance

In recent years, the management of Material Non-Public Information (MNPI) has emerged as a significant concern within the compliance sphere. Regulatory bodies in the...

Fenergo's recent webinar, 'KYC, AML, & Onboarding in 2023 – Were Lessons Learned or Do Old Habits Die Hard?', brought together compliance experts to delve into findings from research on over 1100 executives from global banks. This study, encapsulated in the report 'KYC in 2023', reveals a significant 17% rise in the average cost of KYC (Know Your Customer) reviews, accompanied by an 11-day increase in their duration over the past year.

The current communication monitoring landscape is a ‘wild west’, and firms need to ensure their processes are nimble so they can adapt to new and evolving communication channels.

2023 was a pivotal year in digital communications governance. In the US, regulatory bodies imposed hundreds of millions in fines, extending their reach from banks to broker-dealers, investment advisers, and credit rating agencies. Similar actions were observed in the UK, with regulatory bodies sanctioning banks and fining firms for non-compliance in trading communications.

Transaction reporting is a necessary requirement for countless regulations, and yet Novatus Advisory co-founder Matthew Ranson believes many firms are getting this process wrong, and they might not even be aware of it.

The journey of digital transformation has been a critical focus for financial institutions (FIs). While considerable progress has been made in digitising compliance and operational processes, a significant challenge remains: addressing Financial Crime comprehensively.

With the industry's focus on rapid growth and market domination, the critical role of risk assessment in preventing money laundering, terrorist financing, and other illegal activities is frequently sidelined. This negligence can lead to severe consequences, including regulatory fines and reputational damage, ultimately impeding a company's ability to compete.

Moody's Analytics recently dug deeper into the role AI regulation will play as the technology changes risk and compliance. 

As the Corporate Sustainability Reporting Directive (CSRD) and EU Taxonomy gain momentum, companies are prioritising their ESG reporting strategy. Central to this strategy is...

Money laundering is the lifeblood of organised criminals – put simply, without the ability to move and convert criminal proceeds into “clean” money to fund further crime and the lavish lifestyle criminals aspire to, organised crime gangs cease to function.