Tag: Compliance

In the ever-evolving landscape of global finance, the implementation of a unique product identifier (UPI) has become paramount for regulatory compliance and operational efficiency. The European Union's EMIR-REFIT initiative underscores the necessity of UPIs, a standard that transcends borders, encompassing major financial markets including the USA, the UK, Australia, the EU, and Singapore. This widespread adoption signifies a unified stride towards harmonisation in the financial sector.

The upcoming Artificial Intelligence (AI) legislation, notably the European Parliament's Artificial Intelligence Act, is poised to redefine the regulatory landscape for financial institutions. Touted as the globe's inaugural framework for "trustworthy AI," the act is set to amplify the compliance obligations of anti-money laundering (AML) and anti-fraud teams. However, this impending challenge is mitigated by the availability of purpose-built AI solutions tailored to meet these burgeoning requirements.

Norm Ai, a pioneering company in the RegTech industry, has successfully closed a substantial seed funding round.

The United Kingdom has emerged as the global hotspot for shell company risks, according to the latest interactive research unveiled by Moody’s Analytics.

In recent years, the management of Material Non-Public Information (MNPI) has emerged as a significant concern within the compliance sphere. Regulatory bodies in the...

The Corporate Transparency Act (CTA) ushered in a significant shift in beneficial ownership reporting requirements starting from January 1, 2024. This change is more...

Risk and financial advisory experts, Kroll, have collaborated with technology specialists ViClarity to introduce a comprehensive solution for managing IAF/SEAR regulations issued by the Central Bank of...

Fenergo's recent webinar, 'KYC, AML, & Onboarding in 2023 – Were Lessons Learned or Do Old Habits Die Hard?', brought together compliance experts to...

The current communication monitoring landscape is a ‘wild west’, and firms need to ensure their processes are nimble so they can adapt to new and evolving communication channels.

2023 was a pivotal year in digital communications governance. In the US, regulatory bodies imposed hundreds of millions in fines, extending their reach from banks to broker-dealers, investment advisers, and credit rating agencies. Similar actions were observed in the UK, with regulatory bodies sanctioning banks and fining firms for non-compliance in trading communications.