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Regulatory Impact on Large Banks
In the United States there are around 7000 banks and based on their asset size these banks are categorized as small, medium and large. Regulatory impact on these banks has resulted in various internal...
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Overview of FATCA
As reported in a survey by Americans Abroad Global Foundation (AAGF) and the University of Nevada, 80% of US citizens living abroad believe that the US Tax laws are more complicated than the tax law in...
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The Volcker Rule: Its Implication And Aftereffects
Even though we are eight years down the line, the after effects of the Financial Crisis of 2008 can still be witnessed. The idea of Volcker Rule was conceptualized in order to restrict large US banks...
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Overview Of SAR (Suspicious Activity Reporting)
Suspicious Activity Reporting (SAR) forms the cornerstone of the Bank Secrecy Act (BSA) and provides critical financial information to combat terrorist financing, money laundering, and other financial...
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Overview of OATS Reporting
Order Audit Trail System (OATS) requirements require firms to report information related to handling and execution of customer orders as well as certain proprietary orders for NASDAQ and OTC...
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Regulatory Reporting for Financial Institutions: The Technology Challenge
While we have previously analyzed the impact of regulations on banks due to various key issues (see related articles at the end of the blog), implementation of new technology and the need to update IT...
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How Big Data Addresses the Issue of Anti-Money Laundering
Anti-Money laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent,...
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The Rise and Scope of FinTech
There are undoubtedly a lot of challenges banks are currently facing. The dynamic regulatory environment and the rise of technology in everyday banking activities is changing the way we bank, and...
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Sandbox in Financial Services: An ideal testing platform
On April 14, 2016, the FCA (Financial Conduct Authority), one of the prime regulators in the United Kingdom, announced that it was preparing to launch a ‘Regulatory Sandbox’[1]. It has started...
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