Highest common factors? Financial crime prevention and enforcement in the UK and US

For many years, firms believed that all the regulatory tools for financial crime prevention were wielded in the US.

Financial Crime, US

What is the best way to deal with PSD2?

To keep up with developments on the e-payment market and to make better use of the opportunities offered by the single market, regulations governing payment services throughout the whole European Union have evolved significantly in recent years.

Financial Industry, Europe

Derivatives reform – As complex as the instruments themselves!

In 2007–2009 we witnessed a global economic crisis which has had far-reaching consequences.

Financial Industry, Financial Instruments

Introducing Hungary’s new insurance law

At the end of last year a new insurance act was introduced in Hungary. Although the Act is effective from 25 December 2014 the substantial rules shall enter into force only on 1 January 2016.

Policy, Legislation/Directives

Indonesia introduced a new law on insurance

Before he left office on 20 October 2014 and the new president was sworn in by the People Consultative Assembly, the former President of Indonesia, Susilo Bambang Yudoyono, signed several new laws and Government Regulations.

Regulation, Asia

Reform of the Russian Pension System

At the end of 2013 the Russian Duma adopted a number of laws leading to major changes in the Russian pension system (the "2013 Reform").

Regulatory Reforms, Financial Industry, Hedge/Investment Funds, Rest of the World

A Revival of SROs on the Russian Financial Markets

In the 1990s a substantial focus in the then nascent regulation of Russian financial markets had been on self-regulatory organisations (SROs).

Regulation, Policy

The regulatory change treadmill in the UK – gathering pace or slowing down?

The year 2014 has been to some extent a period of retrenchment, although many changes are still to come.

Regulatory Reforms, Policy

Does financial regulation create moral hazard?

Undoubtedly, the global financial crisis (GFC) of 2007/08 has brought the concept of financial regulation into the spotlight of policymakers, as well as the general public.

Regulation, Policy

Indonesian Court revokes contract drawn up in English

The Indonesian Parliament (Dewan Perwakilan Rakyat) passed a bill regarding the country’s flag, language, national emblem, and anthem in 2009. It became Law No. 24 of 2009 on The Flag, the Language, the National Emblem, and the National Anthem (the ‘Law’ or ‘Law No. 24/2009’).

Policy, Guidance

Indonesia’s proposed new banking bill

For almost the last two decades since the last financial crisis hit Asia’s emerging market countries in the late nineties, the Indonesian banking industry has been flooded with foreign investors entering into its financial industry, the like of which has never seen before.

Financial Industry, Asia

The implications of banking reform on senior management in banks

The Financial Services and Markets Act 2000 gives the PRA and the FCA certain powers and responsibilities over individuals that carry on particular roles within the UK financial services industry.

Financial Industry, Industry Reforms

Financial crime – FCA loses patience

In November 2014, FCA published the results of two thematic reviews into how firms manage their financial crime risks, together with proposed guidance on financial crime systems and controls.

Insurance, Financial Crime

To what extent should a more constructive approach be taken to bribery and corruption in the UK financial services industry: tackling bribery in the banks

The financial services sector is just as susceptible to bribery and corruption as any other, however it is questionable whether the UK’s legal and regulatory framework effectively addresses the manner in which bribery can take place in a financial sector context.

Regulation, Financial Crime

2015: Time for a haircut? Reflections on Bail-In in Germany

The German banking landscape has changed dramatically with the introduction of Directive 2014/59/EU, which establishes a framework to prevent the failure of financial institutions and mitigate any adverse impacts for the financial market resulting from such failure.

Financial Industry, Europe

Delisting of shares in Germany: Reflection on developments in 2014 and questions for 2015

Delisting is the process of withdrawing the admission to trading securities from a stock exchange.

Financial Industry, Europe