As I mentioned in the previous blog "When best of breed financial crime and compliance “point solutions” aren’t enough", many companies are increasingly looking...
As I mentioned in the previous blog "When best of breed financial crime and compliance “point solutions” aren’t enough", many companies are increasingly looking to consolidate their various operational risk, compliance, audit and business continuity solutions. This is to help break the GRC silos and create a “single source of the truth” for better risk based decision making. While this is arguably easier using a single GRC data source and a single provider of all GRC linked...
As I mentioned in the previous blog "When best of breed financial crime and compliance “point solutions” aren’t enough", many companies are increasingly looking to consolidate their...
Ranging from libor rate fixing to product miss-selling, 2012 was without doubt a busy year for regulators the world over. Certainly a look at recent regulatory...
Ranging from libor rate fixing to product miss-selling, 2012 was without doubt a busy year for regulators the world over. Certainly a look at recent regulatory enforcements highlights the complexity and difficulty involved in running a financial services company, whilst keeping it compliant and within the law. Plus avoiding the high costs from a financial and reputational perspective if it all goes wrong!For example, according to reports in the press there was a record £312m...
Ranging from libor rate fixing to product miss-selling, 2012 was without doubt a busy year for regulators the world over. Certainly a look at recent regulatory enforcements highlights the...
In what could be described as a calculated move albeit applied with great stealth, depositors in Cyprus woke up recently to find out, that a portion of their...
In what could be described as a calculated move albeit applied with great stealth, depositors in Cyprus woke up recently to find out, that a portion of their hard earned savings miraculously disappeared (via a tax / levy) at the hands of the government magicians with no promises that the appropriation of funds would reappear.Just when you thought ‘bail-out’ was no longer in fashion, then presto another troubled euro-zone economy comes begging for a rescue. Only this time,...
In what could be described as a calculated move albeit applied with great stealth, depositors in Cyprus woke up recently to find out, that a portion of their hard earned savings...
Why are Foreign Financial Institutions (FFIs) spending so much time and energy on Foreign Account Tax Compliance Act (FATCA) ? FATCA is a US regulation whose...
Why are Foreign Financial Institutions (FFIs) spending so much time and energy on Foreign Account Tax Compliance Act (FATCA) ? FATCA is a US regulation whose sole purpose is to recover owed tax revenue from previously unidentified assets and incomes domiciled outside of the US. FFI's non compliance with this regulation will be met by significant withholding on any meaningful income generated from the USA. This method of enforcement is possible because the US is such an...
Why are Foreign Financial Institutions (FFIs) spending so much time and energy on Foreign Account Tax Compliance Act (FATCA) ? FATCA is a US regulation whose sole purpose is to recover owed tax...
