After yesterday’s post about KYC, PEPs and AML, someone said: “so what’s the point Chris?” @FSClub not quite sure of the point you are making here. Money L bad. Hard to catch. Harder if not in official channels. It was ever thus? — Julian Lee (@JulianDDLee) May 8, 2014 The point of yesterday’s blog was…
I have recently spent a lot of time talking about KYC (Know Your Client), AML (Anti Money Laundering, often confused with ALM which is Asset and Liability Management), Client Onboarding, PEPs (Politically Exposed Persons) and SARs (Suspicious Activity Reports). It’s all wrapped up in financial crime, compliance, legal, audit and operational risk. The core of…
I have recently spent a lot of time talking about KYC (Know Your Client), AML (Anti Money Laundering, often confused with ALM which is Asset and Liability Management), Client Onboarding, PEPs (Politically Exposed Persons) and SARs (Suspicious Activity Reports). It’s all wrapped up in financial crime, compliance, legal, audit and operational risk. The core of…
I chaired a meeting recently between counterparty banks. The focus of the discussions was Basel III and, specifically, three new regulatory ratios required for banks to manage: Liquidity Coverage Ratio (LCR): designed to ensure that financial institutions have the necessary assets on hand to ride out short-term liquidity disruptions. Banks are required to hold an…
I’m just preparing a presentation in Canada and realised that, like most countries, the competitive landscape of Canadian banking has not changed much in the last century. Sure, there’s been some M&A and sure, the big banks are competing hard with each other but, outside that … Here’s the issue: the major banks in most…
In America and Europe, stress tests are regularly applied to see whether the banks are becoming more resilient to another crisis. The latest results of the American stress tests shows that all but one (Zions Bancorp) of the top 30 US banks are ok. Europe is different. Having said that Europe has fudged their previous tests,…
In America and Europe, stress tests are regularly applied to see whether the banks are becoming more resilient to another crisis. The latest results of the American stress tests shows that all but one (Zions Bancorp) of the top 30 US banks are ok. Europe is different. Having said that Europe has fudged their previous tests,…
It’s EU elections time, and so the mad moments begin. All of the eurocrats are keen to push through their final legislative agendas and so, just in the past week, we’ve seen the introduction of or revisions to everything from the Tobacco Products Directive to the Package Travel Directive to the Collective Rights Management Directive. Of course…
It’s EU elections time, and so the mad moments begin. All of the eurocrats are keen to push through their final legislative agendas and so, just in the past week, we’ve seen the introduction of or revisions to everything from the Tobacco Products Directive to the Package Travel Directive to the Collective Rights Management Directive. Of course…
