Regulatory Compliance Journal
A Proposal for a Directive which will amend, the Directive 2009/65/EC (UCITS IV Directive) and the Directive 2011/61/EU...
- 5 min read
MiFID (Markets in Financial Instruments Directive) was put into force in November 2007 and was created with the objectiv...
- 3 min read
2 articles matching investment funds tag
GDPR: inspiring data protection worldwide
Since its inception, the EU’s General Data Protection Regulation (GDPR) has been deemed by experts as the world’s strongest collection of data protection rules. As our online presence increases through social media, digital banking, and other means, nations around the globe have come to re...
- 10 min read
Dawn of disruption: predicting AML in the next decade
The exponential growth of technology is leading to the disruption of numerous sectors including telecommunications, robotics, science, and finance. As banks are slowly adapting to high-tech innovations, the world of compliance and AML will face unprecedented changes and challenges in the near ...
- 12 min read
How to write the perfect SAR?
Suspicious Activity Reports (SAR) drafted by financial institutions contain some of the most valuable information available to law enforcement agencies in the fight against financial crime. Yet, the FinCEN Files scandal of 2020 has shown that major banks have consistently failed to write and s...
- 11 min read
Why do most AML programs fail?
Despite the consistent efforts adopted by banks to fight money laundering and financial crime, fines for AML breaches have hit an all-time high. In 2020, financial institutions were fined a grand total of $15.13 billion (€12.79 billion) worldwide, a 51.3% increase compared to 2019, with U...
- 10 min read
What are the impacts of Financial Data Leaks?
In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, tax evasion, and fraud perpetrated by certain countries and wealthy individuals. The profound work carried out by international journalists in publishing the wrongdoings have ...
- 10 min read
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VAT carousel: fiction or truth for financial institutions ?
VAT, Caroussel, Europe, Know your Customer, KYC, European Commission, VIES, BTW, TVA,VAT Carousels - The look back in the transactions For several years there have been occasional stories of VAT carousels that are exposed after the facts and where banks then do a look back in the transactions on their systems to determine whether som...
Intro to DLU4: Foreign accounts and Fiscal Regularisation
Reporting, Tax Havens, Belgium, Consultant, Ethics, EU, Compliance expert,What is DLU and how has it evolved through the years?DLU stands for "Déclaration Libératoire Unique", which is a Single Discharge Declaration. By introducing the DLU concept, the scope of the Belgian tax authority was to give a chance, to people w...
Inside RegTech - Regulatory Compliance Technology
Money Laundering, Know your Customer, RegTech, MIFID, Financial firms, Financial Institutions, Digital, FinTech,🎬 Introduction to RegTech and Regulatory ComplianceThe worldwide economic repercussions of the 2008 financial crisis led regulators to strengthen their regulations and controls against the financial market operators. Today, financial institutions ...