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FATCA – 6 basic concepts you need to know

Posted on by aldopuch

By Stanley Epstein, Eureka Financial The United Sates’ Foreign Account Tax Compliance Act (FATCA) was written into law in March 2010 and became operative on 1 July 2014. The objective of the legislation was to ensure that United States taxpayers … Continue reading

Posted in Banking Operations, Banking Regulations, FATCA, Financial Markets, Private Banking, Regulation | Tagged , , , | Leave a comment

Here comes the MiFID II

Posted on by aldopuch

By Stanley Epstein, Eureka Financial The original Markets in Financial Instruments Directive (MiFID) came into force in November 2007. MiFID brought competition to the trading procedures in the European Union. Under MiFID investment firms could operate throughout the EU on … Continue reading

Posted in Banking Regulations, Derivatives, Financial Markets, MiFID, Securities Settlement | Tagged , , , , , | Leave a comment

New enhanced solution for FATCA by Thomson Reuters

Posted on by aldopuch

By: Market Watch  Thomson Reuters announced today enhancements to its Foreign Account Tax Compliance Act (FATCA) Grandfathered Obligations (GO) solution to include material modifications flags. The new material modifications feature will help financial institutions, including custodian banks, better determine the … Continue reading

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OTC Derivatives Market Update

Posted on by aldopuch

Derivatives move into the shadows According to FT shadow financial institutions are taking advantage of a wave of new derivatives regulation imposed on the banks. This has resulted in a substantial portion of the derivative market moving away from the mainstream banks … Continue reading

Posted in Derivatives, Financial Markets, Regulation, Trading | Tagged , , , , | Leave a comment

Strengthening AML regulations across the world

Posted on by aldopuch

Money Laundering laws strengthened in Bahrain Money Laundering regulations in Bahrain have been strengthened following the signing of a Royal Decree by Sheikh Hamad bin Isa Al Khalifa.  In an amendment to the Money Laundering and Counter Terrorism regulations, security … Continue reading

Posted in Anti-Money Laundering, Banking Operations, Operational Risk Management, Regulation, Risk Management, Training Dubai | Tagged , , , , , , | Leave a comment

Proposals for regulations in shadow banking and new standards for multi-listed securities

Posted on by aldopuch

FSB proposals on shadow banking The Financial Stability Board (FSB) has published proposals to strengthen the oversight and regulation of shadow banking.  The proposals follow on from the 2011 G20 summit in Cannes at which the G20 leaders agreed to … Continue reading

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New Repo tool by FED to affect the short-term lending markets

Posted on by aldopuch

By FT.com Policy makers were briefed by Simon Potter, head of the markets group at the New York Fed, about establishing a “fixed-rate, full-allotment overnight reverse repo” facility. This would operate alongside the Fed’s existing reverse repo facility that is … Continue reading

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AML in the News

Posted on by aldopuch

BaFin is checking Deutsche Bank AML controls According to Reuters, the German regulator, BaFin, is looking into whether Deutsche Bank needs to tighten up its Anti Money Laundering (AML) controls.  The regulator is apparently concerned at potential delays in reporting … Continue reading

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ICMA issues covered bond statement

Posted on by aldopuch

  The International Capital Market Association (ICMA) has issued a statement to the credit rating agencies relating to the methodologies used in rating covered bonds.  The statement revolves around the volatility of covered bond ratings in particular and other ratings … Continue reading

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Tougher regulation in the repo market

Posted on by aldopuch

The Basel Committee on Banking Supervision may have recommended a minimum 3% capital holding to cover repo deals but globally regulators now seem to be tightening the rules still further.  Within the past month both the US SEC and European … Continue reading

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