Accusations of money laundering levelled at Banca Privada d’Andorra by the US authorities threatened to destabilise the country's banking sector, so the government had to act quickly to contain the crisis. Now, Andorran authorities are keen to show that this was an isolated case and that the wider banking sector is both closely governed and performing successfully.
Latest articles from Regulation
A tougher regulatory approach to individual responsibility for anti-money laundering controls could put compliance professionals in a difficult dilemma if they do not have the support of their senior executives.
Increasingly confident that they have made the banking sector resilient to any future financial crisis similar to that of 2008, regulators are now turning their attention to shadow banking. But a very different approach may be necessary.
The banking industry is asking regulators to pause to assess the impact of all reforms undertaken in the post-crisis environment. And not before time.
The banking licences being granted to private companies in China look set to shake up the country's financial sector, with its 'big four' lenders coming under pressure from tech-savvy newcomers with a strong customer network, such as Alibaba and Tencent.
An enhanced regulatory discipline recalibrated almost two years ago, conduct risk has served as a point of confusion for firms due to the lack of prescriptive guidelines provided by the regulator. However, this is no excuse for ignoring the issue.
Secondments would provide regulators with greater expertise, but potential conflicts of interest must be carefully handled.
Regulators are fretting over the structure of bankers' pay; shareholders should be more worried about the size of it.
Regulators are playing an important role in how banks guard against cyber risks, but their emphasis is very much on guidance and co-operation rather than rules and coercion.
Global Risk Regulator
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