Are prevailing winds once again to blow from the SEC? Gary Gensler, as expected, was sworn in last month as the new Chair of the Securities and Exchanges Commission (SEC). The arrival of the ex-CFTC chair and former Goldman Sachs banker is a big appointment to watch in the new US administration. Gensler had previously…
There are increased noise levels of late coming out of the FCA. First the news earlier this month that NatWest is being prosecuted for AML failings, and now a new campaign to encourage whistleblowing in UK financial services firms. “We listen to all whistleblowers, and if they shine a light on serious misconduct, we want…
Regulators are definitely back in business pushing ahead on tackling Climate-change Risk Management: are you up-to-date and on track? Introduction to the Article Since we published our introductory article on ‘Climate change: compliance and conduct risks’ in August 2020, there has been a significant number of important regulatory developments from UK and international regulatory…
Eiger Regulatory Partners – Compliance Mentoring Programme We are delighted to announce the launch of our Compliance Mentoring Programme. This new initiative is to offer, at this stage, London-based investment bank compliance specialists up to VP-level, access to well-known senior management compliance specialists and experienced (including accredited) career coaches. This mentoring would be at no…
With an increasingly full and complex in-tray, a challenging operating environment, how do you plan to reinvigorate your compliance teams and programme as we come out of lock-down and start the staggered return to a new workplace normal? What does the post-pandemic regulatory environment look like? Regulators (including the PRA and FCA) have rightly been…
With new chiefs having recently arrived and indeed being soon to join several global financial regulators, one thing can be certain; that change is afoot. Some current examples: 2020 saw the UK’s Financial Conduct Authority (FCA) appoint a new CEO. In the US, a new President is expected to shortly be announcing a new chair…
With what is looking like a protracted lock-down and a continuation in remote working for 6 months we thought it would be timely and informative to speak to the Chief Compliance Officer (CCO) community about their experiences over the last 6 months and their expectations for the year ahead. How have Compliance functions performed over…
David Bernardi has over 20 years of Compliance training experience working at investment banks such as Credit Suisse, BNP Paribas, Nomura and Commerzbank. Background to the article From our speaking to a number of firms in recent weeks, it is clear the COVID-19 lockdown has challenged the effectiveness of compliance training programmes which were not…
This is the first in a series of articles looking at the regulatory and compliance implications of climate risk for financial institutions. This is an introductory article to help Compliance Officers less familiar with the UK Government and UK Regulatory policy objectives, to get a Compliance Officer’s view on what is a wide ranging, complex…
Do you fully understand the LIBOR Transition conduct and compliance risks during conversion? The UK regulators have set clear expectations and obligations on firms The UK FCA and PRA have clearly demonstrated that good conduct and treating clients fairly is high on their agenda for transition to new interest rate benchmarks. Conduct must be embedded…