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Bank of England Consults on Remaining Basel Bank Capital Rules
Date: November 30, 2022
LONDON (Reuters) – The Bank of England confirmed on Wednesday that the rollout of remaining global bank capital rules would start in January 2025, with smaller lenders not required to apply them. Known as Basel III, the rules were agreed globally after taxpayers had to bail out undercapitalised lenders in the global financial crisis over...
Consumer Duty – What Every Financial Organisation Should Know
Date: November 29, 2022
By Vignesh Ramesh, Head of Consumer Duty Solutions at Medallia The new Consumer Duty rules from the UK’s Financial Conduct Authority (FCA) come at an pivotal time for the industry. Hot on the heels of the pandemic, and in the wake of market dislocation and evolving consumer expectations, the new rules stand to further tip...
The Role of No-Code in Ensuring Software and Quality Compliance
Date: November 29, 2022
By Sune Engsig, vice president of product development, Leapwork Software plays a vital role in almost every aspect of our daily lives. It is, therefore, unsurprising that there has been a growing trend of high-profile cases which demonstrate the serious impact – from damaged reputations to significant financial loss – of software outages. In June...
Finding the Silver Linings in the R&d Tax Relief Changes
Date: November 28, 2022
Headlines suggest that SMEs are set to see R&D tax relief claims cut by up to 45% following the Chancellor’s Autumn Statement – a rather gloomy prospect – but look beyond the top-line figures and this is a budget that focuses on both compliance and encouraging collaboration to improve R&D tax claim quality, which can...
Combating the Rise of Financial Crimes in Payment Service Providers
Date: November 28, 2022
By Kristina Nikipolska, CAMS (Certified Money Laundering Specialist), Head of AML & Compliance Department of ECOMMPAY Financial crime in eCommerce has been a problem since the very beginning of the industry, but a rise in online shopping during the pandemic has been accompanied by significant increase in fraudulent activity. Approximately £17 billion ($20 billion USD)...
Why Fintechs Need Good Governance
Date: November 25, 2022
By Erika founder of Beyond Governance Fintechs are innovative by nature, often growing quickly and responding rapidly to evolving technologies and customer demands – which is why governance is key. Without good governance, the business weakens and struggles to survive in the long-term. A lack of governance in financial organisations is bad news for everyone...