Search Results for: regulatory

Summary The regulatory requirements for Initial Margin (“IM”) segregation, linked to non-cleared derivatives, came into force in 2016. The phased implementation schedule first affected those most active in the OTC market, followed by a greater and more diverse range of counterparties. Of the five waves scheduled, Waves 1 and 2 are complete, involving mostly sell-side […]

“A journey of a thousand miles begins with a single step…but it helps if it’s bold and in the right direction!” The insurance industry is at an inflection point – the digital challenge and changing needs of a younger generation mean that insurers need to adapt quickly to the demands of tomorrow’s customers or risk […]

“Does the drive to collateralise more bulk annuity transactions lead to suboptimal outcomes for customers, pension trustees and insurers?” Bulk purchase annuity (“BPA”) business has grown significantly in the last 5 years, driven recently by pension reforms enacted in 2014 that had a significant impact on the individual annuity market.  Recent market data shows that […]

Context Banks deemed systemically important to the financial system are required to produce and maintain recovery and resolution plans*. These set out the arrangements in place to ensure their ability to recover from short-term stresses, in the event of a material deterioration in their financial situation. Plans must include recovery options that cater for a […]

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The challenge The Board of a major European financial institution raised concerns when asked to approve the recovery plan. It concluded that, whilst the plan supported a number of business as usual actions, there were concerns that franchise-changing actions may also be required and that these actions may not be viable in a recovery scenario. […]

The challenge With an IT infrastructure which had been built up over 25 years, the firm had many platforms siloed to business lines and specific to customer channels. With 9 separate ways for the firm to enter its financial securities data – one single repository was need to avoid duplication and error. The firm needed […]

The challenge The treasury commissioned a project to measure the admin burden of tax regulation placed on businesses. The Government wants to reduce the admin burden on business in a progressive and sustained manner for years into the future. Securing the project, one of the Big Four auditors needed specialist support to execute the programme […]