June 2018

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European Regulator concerned about banks’ lack of Brexit preparations

The European Banking Authority (EBA) has voiced its concerns about the level of preparedness of the financial sector in light of Brexit. Despite the potential departure of the UK from the EU in less than 9 months away, the watchdog has found an apparent lack of preparation by financial institutions for this event and made …

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EBA consults on Guidelines on outsourcing

The European Banking Authority (EBA) launched today a public consultation on its draft Guidelines on outsourcing. These Guidelines, which review the existing CEBS Guidelines on outsourcing published in 2006, aim at establishing a more harmonised framework for outsourcing arrangements of all financial institutions in the scope of the EBA’s action. The draft Guidelines provide a …

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International watchdog issues critical view of Cryptocurrencies, trust being main issue

The Bank for International Settlements (BIS), the international financial institution owned by 60 central banks, has issued a critical view of Cryptocurrencies, claiming to look beyond the hype of Blockchain and DLT application in the token space. BIS objective is to serve central banks in their pursuit of monetary and financial stability, to foster international …

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How to improve Vendor Management Compliance and soften the Impact of New Regulations

Vendor Management Compliance is an increasingly important aspect for financial institutions and it is getting more and more complicated, too. New regulations further add to the challenge, but establishing the right framework is also an opportunity. An introduction to Vendor Management Compliance Vendor Management Compliance is an increasingly important aspect for companies. Why? Well, take …

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EBA tries to clarify Strong Customer Authentication and Common & Secure Communication under PSD2

The European Banking Authority (EBA) has published two regulatory products, an Opinion and a Consultation Paper on draft Guidelines, to clarify a number of issues identified by market participants in relation to the regulatory technical standards (RTS) on strong customer authentication and common and secure communication (SCA and CSC), which will apply from 14 September …

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The end of CFDs and Binary Options? – Why the EU has put a stop & what comes next

The writing has been on the wall: times for CFDs and Binary Options are getting more difficult with the latest announcements from the European financial watchdog, ESMA (European Securities and Markets Authority) to ban the marketing, distribution and sale to retail investors. Does this CFD ban and prohibition of Binary Options mark the end of the …

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Dodd-Frank for Europeans – What it aimed to achieve, why it’s being reformed and the 5 biggest impacts of the rollbacks

For Europeans, it can be puzzling when talk turns to the famous Dodd-Frank as we witnesses the events that led to this milestone piece of financial regulation, but few have a real grasp of what this law actually did. It is even more confusing when we hear that a reform to repeal the regulation that …

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The Future of Finance is Quantum Computing

Quantum Computing has the potential to disrupt the financial industry. We look at the use cases in Finance and the obstacles that this astonishing technology has to overcome and you don’t even need a degree in Physics to understand it. Quantum Computing = The Future of Finance “Blockchain is so yesterday! Quantum Computing for Finance, …

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