2019 saw the FCA dishing out the highest level of fines ever, totaling nearly £400m in a twelve-month period. This included hefty penalties relating to anti-money laundering failings. However, in the FCA’s 2019 thematic review the organisation did provide its recommendations for how banks can better their AML processes, stating, “For an effective defense against...
Enhanced supervisory technology (SupTech) with strong governance and skilled human oversight could well have important benefits for financial regulators around the in efforts to increase economic stability in their nations and around the globe, said a report prepared for the G20. “SupTech could improve oversight, surveillance and analytical capabilities, and generate real-time indicators of risk...
Highly regulated industries like the financial services industry have faced ever-increasing regulatory compliance obligations. Technology, such as artificial intelligence (AI), that can be utilized to innovate the manner in which these organizations operate can lead to additional challenges for regulatory compliance, and the regulatory environment can drastically impact innovation in these sectors. Regulatory compliance is...
When the calendar turned to 2020, my first thought was about how futuristic the year sounded and what kind of interesting things it had in store. At that time, no one could possibly have imagined that some of those interesting things would be face masks, working from home, and wearing the same loungewear so often...
TORONTO, Oct. 6, 2020 /CNW/ - SQL Power, the global leader in financial regulatory and advanced analytics technology is proud to announce the implementation of their supervisory platform, the SQL Power Suite, on September 22, 2020 at the Trinidad and Tobago Securities and Exchange Commission (TTSEC). According to the TTSEC, the Electronically Advanced Submission interface or EASi platform...
The Global Risk Institute Published “An Overview of FinTech in Canada” this month. It is a very interesting review of the state of the Canadian FinTech market with broad implications for the financial services industry and for its regulators. Every jurisdiction, and Canada is no exception, seeks to gain economic leverage and future technology investment...
The New York Society of Security Analysts’ (NYSSA) Financial Reporting and Analysis Group hosted a program on using XBRL formatted structured SEC corporate data filings to expedite and ease financial reporting and analysis. Panelists were Mohini Singh (CFA Institute), Todd Castagno (Morgan Stanley), Pranav Ghai (CalcBench), Hal Schroeder (FASB), Mike Willis (Securities and Exchange Commission), Mark Montoya (FDIC),...