In April, Clutch issued a Press Release announcing the publication of the Annual Financial Services Regulatory Highlights For 2016 . The full text of the Press Release can be found below.
WASHINGTON–(BUSINESS WIRE)–Clutch Group, a leading legal, risk, and compliance analytics and managed services firm, has published Financial Services Regulatory Highlights Report for 2016 covering the major policy initiatives and enforcement trends expected from 18 of the world’s most powerful and influential global financial regulators such as the Securities and Exchanges Commission (SEC), the Financial Conduct Authority (FCA), and the Hong Kong Monetary Authority (HKMA) among many others.
This is the second consecutive year that Clutch has published its Financial Services Regulatory Highlights. The report has been compiled following in-depth research of each regulatory body’s proposed plans, public statements, and past enforcement actions. It is designed to quickly and lucidly provide a general overview of the global regulatory state as well as brief summaries of the anticipated focus areas for major regulators in the financial world’s most critical jurisdictions.
This year, Clutch has highlighted several trends that have emerged as common themes in global regulators’ plans for the year ahead and beyond: Liquidity & Capital Risk, MiFID II, Anti-Money Laundering, Cybersecurity & Data Protection, and Individual Accountability.
Cyber Security – As banking becomes increasingly electronic, regulators and enforcement agencies in the United States, Europe, Singapore, and Hong Kong are more focused on enforcing cyber security standards and preventing breaches of security.
Liquidity & Capital Risk – The report also highlights the relentless post-crisis focus on capital adequacy and continued liquidity risks. Numerous regulators across varied jurisdictions are improving standards and adding new evaluations.
Individual Accountability – The report notes that in the eight years since the financial crisis regulators have struggled to hold individuals accountable. This year, they are renewing efforts with a number of key initiatives.
“At Clutch, we frequently engage with the world’s most influential regulators and with key stakeholders at the largest financial services institutions to keep abreast of trends in surveillance, compliance, and investigations,” said Charles Hastie, Regulatory Head at Clutch and former Supervisor for the FCA. “Over the course of those conversations, we realized that the industry as a whole would be well served by a report that consolidated the key policy initiatives and trends driving the future of financial regulation. If you can’t read each piece of legislation or every agency’s 2016 plan, then this report is meant for you.”
“Our goal through this publication is to help our clients spot impactful trends from across a variety of global regulators’ activities as well as to share them in a simple and operationally-focused way,” said Varun Mehta, Vice-President of Legal and Compliance Solutions, Clutch Group. “Over the course of 2016, we look forward to continuing our regulatory approach with a variety of programs geared towards simplifying what regulators are looking for from our clients as part of our larger goal of assisting the world’s largest financial services firms in achieving compliance.”
The report briefly covers the following jurisdictions and regulators:
European Union – European Banking Authority || European Commission || European Securities and Markets Authority
Germany – Federal Financial Supervisory Authority
Switzerland – Financial Market Supervisory Authority
United Kingdom – Financial Conduct Authority || Prudential Regulation Authority || Serious Fraud Office
China – State Administration of Industry and Commerce
Hong Kong – Hong Kong Monetary Authority
Singapore – Monetary Authority of Singapore
United States – Commodity Futures Trading Commission || Consumer Financial Protection Bureau || Department of Justice || Federal Reserve || Financial Industry Regulatory Authority || Office of the Comptroller of the Currency || Securities and Exchange Commission
Clutch Group is a leading legal, risk, and compliance analytics and managed services firm headquartered in Washington D.C., with offices in NY, Chicago, London, Bangalore, Zurich and Hong Kong. The firm is dedicated to helping companies in the financial services, life sciences, and energy industries solve complex problems presented by the exponential growth of data and regulation. Clutch’s global team of attorneys, consultants, and technologists leverage deep subject-matter expertise and Clutch.IQ, a suite of cutting-edge data analytics solutions, to help clients manage large-scale litigation and investigations, conduct comprehensive communications surveillance, and re-engineer their internal legal and compliance functions. Clutch has been recognized by industry authorities including Nelson Hall, the New York Law Journal, Chambers Global, Frost & Sullivan, and Dun & Bradstreet and is regularly featured across major industry and market publications. For more information, visit http://www.clutchgroup.com.