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22.05.2024 / BCBS239

News & Communication

Industry Leaders Discuss BCBS239 Compliance and ECB's New Guidelines on RDARR

On May 21st, 2024, Avantage Reply, organized an insightful luncheon on "BCBS239 – A Renewed ECB Priority" to discuss the European Central Bank's (ECB) final guide on Effective Risk Data Aggregation & Risk Reporting (RDARR) issued on May 3rd, 2024.

21.05.2024 - 21.05.2024 / Luxembourg/Bruxelles

Event

BCBS239 - A RENEWED ECB PRIORITY | BUSINESS LUNCHEON

Insights into the Final Guide on Effective Risk Data Aggregation and Risk Reporting issued by the ECB on 3 May 2024 and lessons learned.

08.02.2024

News & Communication

Regulatory Outlook 2024

2024 is set to be a pivotal year for the European regulatory landscape, with Belgium commencing its presidency of the Council of the European Union. The financial landscape in the country is poised for significant changes, with the legislative agenda taking precedence in its program. To kickstart the year, Avantage Reply is keen to highlight our perspective on the key issues slated for attention.

18.01.2024

Blog

The Market in Crypto-Assets Regulation: a Deep Dive

The first comprehensive European regulation pertaining to the crypto-market was approved in May 2023 and is known as the Market in Crypto-assets Regulation (MiCaR). With the Fifth AML Directive, the Union had already regulated crypto-assets in the AML space, albeit under a different name: virtual currency.

07.12.2023

Blog

Risk and Compliance in the Digital Age - Assessing the Impact of the European AI Act

Many believe that artificial intelligence (AI) will be the "next big thing" in the digital era. Customers and businesses are increasingly using this technology to complete tasks that were previously limited to human operators and to solve problems.

21.11.2023 - 23.11.2023 / FRANKFURT

Event

Reply at FI-Forum 2023

Reply is represented at the FI Forum in Frankfurt. Meet Reply at their booth and learn all about the range of services for the Sparkassen-Finanzgruppe. Also visit the presentation "Banking in the Cloud - Future IT Banking Architecture: Our Perspective and Use Cases" on 22 November 2023.

08.11.2023

Blog

The clock is ticking on the Basel IV implementation – Are you ready?

On 27 October 2021, the European Commission (EC) published its legislative package, implementing the finalisation of the Basel III reforms, widely recognised as Basel IV. The Capital Requirements Regulation 3 (CRR III) and the Capital Requirements Directive 6 (CRD VI) were put in place to signify a new era of banking and financial compliance.

08.11.2023

Blog

DORA: The clock is ticking!

The Digital Operational Resilience Act (DORA), entered into force on the 16th of January 2023 and will be applicable from the 17th of January 2025. Its main purpose is to enhance and strengthen the cybersecurity practices of entities across the EU financial sector and to harmonise key requirements and reporting obligations.

31.10.2023

Event

CLOUD IN FINANCIAL SERVICES - BREAKFAST MEETING SERIES (2/2)

Reply is hosting the final instalment of the two-part breakfast meeting series to present the results of the survey and delve into specific topics covered by the second Cloud in Financial Services Survey with senior financial services executives. 

07.08.2023

Blog

RAISING THE BAR: HM TREASURY’S CONSULTATION TO REFORM THE UK'S AML/CTF SUPERVISORY REGIME

On 30 June 2023, HM Treasury published a consultation on reform of the anti-money laundering and counter-terrorism financing (AML/CTF) supervisory. The consultation proposes four possible models and seeks respondents’ feedback on the potential benefits and drawbacks of each reform. Feedback and responses to the consultation must be submitted by 30 September 2023.

02.08.2023

Blog

European Court of Auditors' Findings on the ECB'S Supervision of Banks' Credit Risk: A balanced view

On May 12, the European Court of Auditors (“ECA”) published a special report on European Union (“EU”) supervision of banks’ credit risk. It concluded that the European Central Bank (“ECB”) has stepped up its efforts but more is needed to increase assurance that credit risk, in particular non-performing loans (“NPLs”), is properly managed and covered.

02.08.2023

Blog

Trading wind-down: expectations and considerations

In a move to improve the resilience of the UK financial sector, the Prudential Regulation Authority (PRA) issued Supervisory Statement (SS) 1/22 in May 2022. This statement delineates the expectations for certain firms involved in trading activities that could pose significant adverse effects on the stability of UK’s financial sector.

27.06.2023

Blog

IMPLEMENTING THE CONSUMER DUTY FOR ASSET MANAGEMENT FIRMS

The Duty sets the standard of care that firms should provide to customers in retail financial markets. The FCA has introduced a new principle, Principle 12, known as the Consumer Principle. This principle requires firms to act in a way that delivers good outcomes for retail customers.

19.06.2023

News & Communication

BCBS 239: A renewed ECB Priority

Since the release of the BCBS 239 Principles in 2014, the European Central Bank (ECB) has been urging European banks to comply with these Principles. These Principles cover three main topics: Overarching governance and structure, risk data aggregation capabilities, and risk reporting practices (often referred to by the ECB as 'RDAR').

19.06.2023

Blog

The Future of Trading Books: Incorporating Climate Risk in Prudential Frameworks

On October 2022, the International Swaps and Derivatives Association (ISDA) released a report titled "Climate Risk Scenario Analysis for the Trading Book", which provides guidance for banks and financial institutions on how to assess climate risk in their trading books.

09.06.2023

Event

Cloud in Financial Services - Breakfast Meeting Series (1/2)

Reply is excited to launch a two-part breakfast meeting series to present the results of the survey and delve into specific topics covered by the survey with senior financial services executives. In collaboration with the European Banking Federation, Insurance Europe, and Profs. Markus Perkmann (Imperial College London) and Nelson Phillips (University of California, Santa Barbara), is currently conducting its second annual survey on Cloud in Financial Services.

26.05.2023

Press Article

A European supervisory revolution? What the proposed SREP changes mean for your bank

If you have ever worked at a bank, you might have come across a process called Supervisory Review and Evaluation Process (SREP). A “baby” of the Global Financial Crisis (GFC) and the European debt crisis, this process is an essential element in ensuring that banks remain safe and reliable.

25.05.2023

Event

BREAKFAST BRIEFING CONSUMER DUTY: THE COUNTDOWN BEGINS

We believe that the journey towards ensuring good outcomes for customers has only just begun and will have far reaching impact on the way firms are built and run. Join us for the breakfast event, where you will have an opportunity to share ideas across various areas of the Consumer Duty, understand the challenges faced by firms and interact with industry leaders. To register for this event, please RSVP to .

28.04.2023

News & Communication

How the EBA plans to increase personal accountability for compliance failures

The year 2022 has brought a new wave of financial crime enforcement with Anti-Money Laundering (AML), Know-Your-Customer (KYC) and Countering the Financing of Terrorism (CFT) fines skyrocketing after a lull period during the COVID-19 pandemic. Fines have risen over 50% globally compared to 2021 and show no sign of slowing down in 2023.

20.03.2023

News & Communication

Impact of the new Dora Regulation on Luxembourg based Financial Institutions

The publication of Regulation (EU) 2022/2554 on the Digital Operational Resilience Act (DORA) for financial institutions in the Official Journal of the European Union on December 27, 2022, has significant implications for Luxembourg-based financial entities. Avantage Reply is actively assisting these entities to ensure they are prepared to meet this challenge.

08.02.2023

Blog

CONSUMER DUTY: THE COUNTDOWN BEGINS

On 25 January 2023, the FCA published the findings from its review of firms’ plans to embed the Consumer Duty (the “Duty”) within their businesses. These implementation plans should have been agreed by firms’ Boards by the end of October 2022.