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 Banking data and Brexit: last-minute priorities for firms

 Carrie Cook
 Brexit and banking data.pdf
As we approach the last week of December and the deadline for negotiations looms, a no-trade deal Brexit is looking increasingly likely. Firms have had plenty of time to plan for this eventuality, but even so, the uncertainty that lies ahead, compounded by the impact of a global pandemic, means firms need to ensure they’ve done everything they can to prepare. This report takes a look at last-minute priorities for financial institutions in preparing for changes in the management of banking data after Brexit.

 AML: the regulatory landscape

 Risk Universe
 Carrie Cook
 AML Report Final.pdf
Financial institutions may have their minds on other matters post-US election, mid-pandemic and pre-Brexit. But the ever-present issue of AML compliance only looks set to get more complex in coming months. As a tranche of new measures approaches, Risk Universe dissects some of the key regulation updates on the horizon, plus sheds light on the context in which these changes have been made.

 GDPR: the next challenge

 Risk Universe
 Carrie Cook
 GDPR Report.pdf
GDPR (General Data Protection Regulation) has been a key regulatory challenge for firms in recent years as they rushed to ensure compliance before it came into play in May 2018. Since then, record fines have been issued to major organisations, including British Airways (BA), Google and H&M. In this report, we take a look at some of the high-profile examples of GDPR breaches and penalties, plus the key data-protection issues firms should be aware of as we approach the end of the Brexit transition period.

 Three Lines versus Three Lines of Defence

 14th October 2020
 The Risk Universe
 Carrie Cook
 Three Lines vs 3LoD Report.pdf
The Three Lines of Defence has had a makeover, but does it offer greater clarity, or are the lines more blurred than ever before? In this latest report for RiskBusiness, I discuss some of the key changes and most common criticisms of the IIA's new Three Lines Model for risk management and corporate governance.

 The operational risks inherent in LIBOR transition

 28th September 2020
 The Risk Universe
 Carrie Cook
 Oprisks and LIBOR.pdf
Even if you’ve never worked in the financial services industry, it’s likely you will have at least heard of LIBOR (London
Interbank Offered Rate) and probably for all the wrong reasons. The term has become synonymous with corrupt bankers,
market manipulation and record-breaking financial penalties. As a result, by the end of 2021, what was once dubbed the
“world’s most important number” will be phased out altogether. In this report, Carrie Cook looks at the operational risks involved with the transition process and what firms should be doing to prepare.


 Pinoy money heist? Bank probed for disappearance of depositors’ moolah

EastWest Bank is being investigated by the government after one of its managers allegedly absconded with the deposits of two of the bank’s long-time clients.

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 CBI books four of its officials for accepting bribes from bank fraud accused, searches own office

The Central Bureau of Investigation on Thursday filed a first information report against four of its officials for allegedly accepting bribes from a company that is being investigated by the agency for bank fraud, The Times of India reported.

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 Regulator slaps fines on two Romanian insurers for late payment of compensations

Romania's financial markets regulator ASF fined local insurance companies City Insurance and Euroins for late payment of the compensations related to mandatory car insurance (RCA) contracts.

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