Regulation and Compliance - Articles & White Papers
Reports and white papers on investment regulation and compliance issues. Amongst the research in this investment compliance and regulation section are white papers on AIFMD (Alternative Investment Fund Managers Directive) and Solvency II - particularly the practical implications for fund managers and insurers. Reports discussing the impact of regulation on fund management... companies, and the operational challenges this presents, have been particularly well received, whilst regulatory primers (for instance providing an overview of who regulates whom and how) have also been well read. Other surveys and articles cover financial regulatory policy, hedge funds regulation, investment regulation, risk management, IFRS financial statements, GIPS performance reporting and the future of investment compliance for asset owners.
Investors can profit from this dynamic growth market with a core-satellite strategy. This would consist of established players with durable competitive advantages on the one hand, and a basket of young, tech-savvy challengers, on the other.
In this white paper we look at the complex world of cybersecurity and…
In this report, The Investment Association and KPMG discuss the threat of cyber attacks and the level of preparedness for such an occurance within the asset management industry.
This paper demonstrate how regulations can be processed using open-standards-based semantic technologies and regulatory compliance made more efficient and effective. It sets out to define the benefits such an approach can offer regulators and financial firms by mapping compliance imperatives onto impacted business activities…
This 48 page compendium of regulatory issues and articles is a must-read for compliance executives, providing viewpoints nad opinions on global financial services regulation and industry developments for the year ahead.
IFRS 15 Revenue from Contracts with Customers, which became effective on 1 January 2018, may change the way investment management companies account for their services. In the past, when major IFRS change has led to large-scale implementation projects, management at companies – usually group financial controllers – have asked…
Ten years after the global financial crisis, many industry observers are looking back, assessing what transpired, and wondering what has truly changed in the financial services industry. Lasting damage occurred on many fronts, not the least of which was a serious erosion of trust. But research shows that trust in the finance…
This guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of securitisation.
When the CEO of Facebook testifies before the U.S. Congress, the world takes notice. Political economist Matt Miller offers his perspective on what investors should watch for as major tech companies come under increased regulatory scrutiny.
Using a synthetic control research design, we find that “living will” regulation increases a bank’s annual cost of capital by 22 basis points, or 10 percent of total funding costs. This effect is stronger in banks that were measured as systemically important before the regulation’s announcement. We interpret our findings as…
The Fixed Income, Currency and Commodity markets have a real impact on individuals, households and businesses. They underpin borrowing costs, exchange rates, and the cost of food and raw materials, and they help firms and households manage financial risks and investments. This is why it is important these markets function…
Growing environmental concerns, and the concerted effort to tackle them on a global scale, are generating large-scale changes across multiple industries. The ability to more precisely identify how environmental regulations are driving industry changes, and having a deeper understanding of their impact on related companies and…
The European Banking Authority (EBA) published today the first products of its FinTech Roadmap, namely (i) a thematic report on the impact of FinTech on incumbent credit institutions' business models and (ii) a thematic report on the prudential risks and opportunities arising for institutions from FinTech. Both reports…
We conducted a lab experiment to examine how bonus caps and malus affect individuals’ choices of risk and effort. We find that a bonus structure that rewards individuals proportionally to realised investment returns, but does not penalise negative returns, encourages risk-taking; while a bonus cap and malus mitigate risk-…
We show that realized volatility, especially the realized volatility of financial sector stock returns, has strong predictive content for the future distribution of market returns. This is a robust feature of the last century of U.S. data and, most importantly, can be exploited in real time. Current realized volatility has…
We examine current areas of concern in the regulation of secondary trading markets, including questions concerning market fragmentation, protected orders, minimum tick size, maker-taker pricing models, transparency and dark liquidity, algorithmic and high-frequency trading, the duties and obligations of broker-dealers who…
Private investment fund regulation in the United States evolved substantially in the last two decades. Tracing the main regulatory developments, this article summarizes the author’s theoretical and empirical findings on the effects of changes in private investment fund regulation from 2006 to 2016, assessing the regulatory…
The Single Security Initiative will be implemented on June 3, 2019, creating a new, common mortgage-backed security (MBS) to be issued and guaranteed by either Fannie Mae or Freddie Mac and called the “Uniform MBS,” or “UMBS.” Single Security represents one of the largest and most significant changes in the history of the…
The financial crisis exposed enormous failures of risk management by financial institutions and of the authorities’ regulation and supervision of these institutions. Reforms introduced as part of Basel III have tackled some of the most important fault‐lines. As the
focus now shifts toward the implementation and…
