The Chairman of Financial Services Ireland (an Ireland-based forum body), William Slattery, has warned against a rigid, overly bureaucratic, centralised approach to EU financial regulation policy: ‘Rather than seeking to establish a centralised and expensive regulatory super-structure, the EU should focus its energies on achieving an effective but low-cost regulatory approach based on mutual recognition between Member States.’ The comments came at a recent conference in Dublin, where Slattery also stressed the importance of avoiding ‘knee-jerk’ solutions to corporate scandals. ‘Regulation, that often has a long shelf life, should not be developed ‘on the hoof’. The business environment is becoming increasingly over-regulated. In the European public debate, more regulation is too often regarded as a panacea for all sorts of public policy issues. There needs to be a counterweight to this approach with far greater recognition of the costs of regulation, including direct costs, compliance costs and costs associated with reduced market efficiency,’ said Slattery.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more