BAI Compliance

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Momentum is building for compliance digitalization

It’s finally happening. Banks that so far have shown only a tepid interest in embedding technology into their compliance processes are rapidly warming up to its very real benefits.KPMG reckons that by the end of 2020, regtech — meaning, compliance technology — will make up more than a third of all compliance spending. And it may not Read More

By |2020-05-27T18:16:24-05:00March 3rd, 2020|Comments Off on Momentum is building for compliance digitalization

Cleaning up a dirty business: Money laundering in financial markets

In recent weeks, regulators have reprimanded leading investment banks for insufficient money laundering controls within their markets and broker-dealer business. This comes as no surprise; few have invested adequately in protective controls, which creates unnecessary exposure. In its 2018 Report on Examination Findings, the Financial Industry Regulatory Authority (FINRA) noted increased trading within firms by foreign entities Read More

By |2020-05-27T17:58:09-05:00April 22nd, 2019|Comments Off on Cleaning up a dirty business: Money laundering in financial markets

Time to worry about revised HMDA is now

Don’t get lulled by the 2018 date for collecting the expanded data required under the revised Home Mortgage Disclosure Act (HMDA). Yes, banks and non-bank mortgage lenders have two more years to meet the requirements. However, collecting that data accurately and understanding the story it tells will likely turn into the equivalent of a tough hike through Read More

By |2020-05-27T18:00:13-05:00March 14th, 2016|Comments Off on Time to worry about revised HMDA is now