Blog

Keep informed and stay a head of regulations’ compliance.

Paul Burleton, Rachel Przybylski, Tom Kennedy, Shiran Weitzman

Post event Post: The Right Use of eComms Data Guards Compliance and Provides Value

In early November myself and the team took part in the ‘Capture, Correlate, Analyse: Deriving value from electronic communications data’ event, which was held at Thompson Reuters in the heart of London’s trading center, Canary Wharf.
The theme we presented is that that well-integrated technology is the key to not only maintaining strict compliance but also for deriving better insights from eComms and realizing greater ROI – a view which undoubtedly rang true with my fellow speakers and the audience […]

76 reasons why firms still need to be scared of MiFID II

Well ok, maybe not 76.
MiFID II (article 76) is approaching its one-year anniversary, and many companies are just now starting to understand its ongoing impacts on the way financial firms do business in Europe. Implementation of the new directive has ramped up over time, and Europe’s Financial Conduct Authority (FCA) has recently announced that it is ready to levy penalties against non-compliant firms. And, with industry research suggesting that 40% of firms remain out of compliance with MiFID II […]

Senior Managers Regime (SMR

Your company may be regulation-ready, but are you? Navigating the Senior Managers Regime (SMR)

Today’s managers in regulated industries always have to stay one step ahead. They know about upcoming regulations before they become mandatory and prepare their teams for the operational changes necessary for compliance. But while a particular company may have an effective corporate compliance policy, individual managers in the finance and insurance industries may find themselves caught off guard by specific requirements of new agency rules that apply to them directly. This is particularly true in the United Kingdom under […]

Empathic Fintech Robo-Advisors

Industry 4.0 (including Artificial Intelligence, or “AI”) started to replace a certain type and number of human employees. Algorithms are superior for repetitive tasks, where decisions are based on a high amount of data. Thus, AI can be particularly helpful for the complex, data-driven tasks of the typical compliance officer. This definition is also applicable for finance-advisors.
Machine learning and human error
Based on the company’s own statement, the algorithm of the fintech robo-advisor EquoBot (using IBM’s super-computer Watson) is capable […]

Building accountability under the Senior Managers Regime

Between complying with complex regulations, managing diverse teams, and running day-to-day operations, managers in the banking and insurance industries are held to high standards of performance and accountability. These standards are created and enforced at both the company-level and among national regulatory agencies. However, while private management practices are primarily aimed at improving effectiveness and efficiency, legal regulations addressing financial managers tend to focus on overall economic stability and consumer protection.
The Senior Managers Regime (SMR) is an increasingly important […]

Post Event Post: Adopt a Tactical, Strategic and Proactive Approach to Compliance

On Thursday 4th October, CEO, Shiran Weitzman was in London to showcase Shield FC’s Financial Compliance Hub at the A-Team Group’s RegTech Summit 2018.  The message that compliance requires a tactical, strategic and proactive approach clearly resonated with the audience of more than 100 senior representatives from major financial institutions, involved in regulatory change management, regulatory reporting, compliance, and investigations.
Shiran addressed current and future challenges surrounding proactive compliance including issues of measurement, control and oversight, end-to-end visibility of the […]

Filling in the Blanks: Supporting RegTech Innovation with Data

Since the launch of the UK Financial Conduct Authority’s regulatory sandbox in 2016, several other global regulators have followed suit in a bid to address some of the key issues around regulatory technology. And with the influx of new regulations continuing unabated, the need for innovative solutions to the challenges facing financial institutions has also never been more pressing. Yet while this need is widely recognised by not just the rising ‘RegTech’ sector but also by regulators and the […]

GDPR and MiFID II – clash or opportunity?

By Shiran Weitzman, CEO, Shield Financial Compliance
Building a data management blueprint
Compliance teams who are able to bring the upcoming General Data Protection Regulation (GDPR) together with the revised Markets in Financial Instruments Directive (MiFID II) will provide a sturdy yet flexible framework for data management within their firm.
MiFID II’s reporting requirements are notorious, for the breadth and depth of data they require firms to collect. The scale of the problem is characterised by the range of data types that […]