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Comment and Analysis

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Client Data

Preparations for 'California's GDPR' lag behind

A survey by PwC predicts that only 58% of all US financial service firms that have to comply with California's Consumer Privacy Act 2018 - the foremost US version of the European Union's General Data Protection ...

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Regulation of Products

Back to basics: the ABC of PRIIPs

The Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 regarding key information documents for packaged retail and insurance-based investment products or PRIIPs came i...

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Client Data

MiFID II’s practical implementation, nine months on

Robert Ophèle, the chairman of the French Autorité des Marchés Financiers or AMF, told the AFME Annual European Compliance and Legal Conference earlier this month about France's experience in implementing the Eu...

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Anti-Corruption

Third-party management at banks: a primer

As the world grows flatter, 'third-party ecosystems,' i.e. webs of interdependent contractors and outsourcers, are expanding in banking rapidly. An explosion in the number and variety of outsourcers and sales in...

Latest News

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KYC

GCB wins gold in African compliance rankings

For the second year running GCB Bank, whose headquarters are in the Ghanaian capital of Accra, has received the lauded title of 'most compliant bank in Africa' from the Association of Certified Compliance Profes...

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Technology

SEC belatedly joins FinTech hub community

Having shown little initial interest in promoting innovative IT products for use by private banks and other financial firms, the US Securities and Exchange Commission has finally opened its Strategic Hub for Inn...

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Suitability

French SPOT inspections bear fruit

At the beginning of the year, the French Autorité des Marchés Financiers carried out a series of five theme-based inspections and, on the strength of its observations, has prepared a list of best practices and r...

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Anti-Money Laundering

Zamira Hajiyeva fails to overturn the UK's first UWO

The UK's National Crime Agency has been able to obtain unexplained wealth orders from the courts in accordance with the Criminal Finances Act 2017 since the end of January. The first one to be issued under s362A...

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People Moves

All change at EFG

EFG International, the Swiss private banking giant, has announced that it will combine its legal and compliance functions into a single division under the leadership of Yves Aeschlimann, who will be the new Grou...