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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-11-09T16:42:00
A new report from KPMG predicted the banking and financial services industries will be hit with unprecedented regulatory intensity in 2024, with regulators expecting compliance deficiencies to be addressed more thoroughly and quicker than ever before.
The report, “Ten Key Regulatory Challenges of 2024,” released Tuesday, advised banks and financial services firms to prepare for a return to heightened risk standards, higher regulatory expectations, strong supervisory and enforcement action, a focus on data and modeling, and the application of existing regulations to new technologies.
“We are experiencing a level of regulatory intensity rarely seen—not the simple effect of ‘net-new’ regulations but the combination of a high-volume of regulatory issuances, the complexity and breadth of regulatory supervision, and the impact that these changes impose across the organization,” the report said.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
2023-10-25T18:32:00Z By Aaron Nicodemus
Federal banking regulators issued a long-promised framework that provides guidance on the safe and sound management of climate-related financial risks at large banks.
2023-10-10T14:00:00Z By Aaron Nicodemus
Bank examiners from the Office of the Comptroller of the Currency are focusing their supervision attention on how banks manage risks that brought down three mid-sized financial institutions earlier this year.
2023-09-11T16:35:00Z By Kyle Brasseur
Loss of confidence following the March collapses of Silicon Valley Bank and Signature Bank was the primary reason First Republic Bank failed in May, according to an internal review conducted by the Federal Deposit Insurance Corporation.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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