The European Commission presented an AML package in July 2019, where it highlighted a number of deficiencies in implementation of the EU anti-money laundering framework, while the recent money laundering scandals led the need to develop a new comprehensive approach at the EU level.
Avantage Reply UK and ElysianNxt are pleased to announce that we have entered into a strategic partnership, bringing together Reply’s management and risk consulting expertise with ElysianNxt’s cutting edge risk technology.
The intention of the “Quick fix” amendments to MiFID 2 is to support economic recovery from the Covid-19 pandemic. The European Commission tries to achieve this via certain reliefs of administrative requirements on firms. Member states are required to transpose the changes into national law by 28 November 2021 and apply them by 28 February 2022.
At Reply, we support, guide and advise our clients in their Operational Resilience to Operational Excellence journey through our deep industry experience, leading strategic partnerships and proven framework.
The European Banking Authority (EBA) published on 16th of March 2021 a decision, which changes the Basel III monitoring exercise from its current voluntary nature to a mandatory exercise from December 2021.
Banks, like all economic players, are called upon to contribute to the climate effort and the implementation of concrete actions in response to the Paris agreements limiting the increase in the planet's temperature to 1.5°C.
Find out how Avantage Reply worked with
UK Finance to recommend improvements to financial services regulators’ cost-benefit analyses. Learn how the team's research, supplemented by discussions with the industry, led to the making of
7 key recommendations in the resulting policy paper.
The main aim of this paper is to show the potential benefits for the Securitisation process, both in terms of the setup of operations and in the entire product life cycle, derived from the adoption of the Blockchain Technology.
On 24 November
Avantage Reply welcomed guest speakers from
industry, law and
a roundtable to discuss the
laws, regulations and
popular sentiments that are ushering in a new era of the Economy. Download the presentation now.
London Interbank Offered Rate (LIBOR) is the world’s most widely used benchmark for short-term interest rates. It is a reference rate for some $200 to $350 trillion in mortgages, consumer loans, derivatives and other financial instruments, which elevates it to the status of a gauge for the health of the banking system. As of the end-2021, it will cease to exist. This development is both a challenge and an opportunity for the financial industry.
Avantage Reply are proud to announce their involvement as Gold Sponsors of the PRMIA Risk Leader Summit 2020. The virtual event, held over two half-day sessions on 16 - 17 November 2020, offers an exploratory risk leadership experience looking at the new dynamics governing the risk profession.
In recent years, financial institutions have faced a significant increase in the volume and complexity of regulatory reporting requirements imposed by the supervisory authorities.
In this context, institutions are required to submit hundreds of thousands of data points in different templates and formats to various supervisors (European Authorities, national authorities, or both). It is worth noting that the reporting deadlines and frequencies at which data points must be reported to the relevant supervisory authorities vary greatly across national jurisdictions.
12th October, the
BoE asked banks about their operational readiness and the challenges associated with the potential implementation of
negative rates, particularly in terms of
technological capabilities. Here, we
contextualise this recent announcement against the BoE direction of travel over the summer and identify
key areas of impact for banks.
In my latest blog I reflect on Yuval Noah Harari's celebrated book, Homo Deus, delving into Harari’s fresh angle on the role of data in our day-to-day life. As I was contemplating Harari's spellbinding book it occurred to me that Dataism is, to a large extent, already the religion of the financial services industry.
After the European Taxonomy and the non-financial reporting directive (NFRD), the EBA is moving a step forward in its action plan on sustainable finance. Until the 16th of October, the market participants can answer a survey to develop draft implementing technical standards (ITS) on Pillar 3 disclosure of prudential information on ESG risks.
This is Part 6 of our ten-legged journey to explore how the Cloud can enable productivity, innovation, and scalability in financial services.
“School is back in session!” and as pupils go back to study their core subjects, the bankers will have to do their own studying of the 2020 EBA Guidelines on Loan Origination and Monitoring. These guidelines bring a number of far-reaching requirements to the age-old process of credit granting.
This is Part 5 of our ten-legged journey to explore how the Cloud can enable productivity, innovation, and scalability in financial services.
Since 2019, EBA has legal duty to lead, coordinate and monitor EU AML/CFT efforts of all EU financial institutions and competent authorities . The EBA making full use of its powers, continues to lead the development of EU AML/CFT policy and support its effective implementation to foster an effective, risk-based approach to AML/CFT.
The EU Taxonomy Regulation – the establishment of an EU classification system for sustainable activities - was published in the Official Journal of the European Union on the 22 June 2020 and entered into force on 12 July 2020. As a reminder, is a tool to help investors, companies, issuers and project promoters navigate the transition to a low-carbon, resilient and resource-efficient economy.
The benchmarking exercise is a key supervisory tool to monitor and enhance the quality of the internal models. The EBA 2021 benchmark exercise is aiming to take on a new hurdle by demystifying market approaches implemented to calculate expected credit loss under the IFRS 9 requirements.