FATCA: why is it so difficult even after so many years?HEXANIKA
Under this law, all non-U.S. Foreign Financial Institutions (FFI’s) are required to search their records for U.S. persons and to report the assets and identities of such persons to the U.S. Department of the Treasury. Read the detailed report here:
Cyber Security Unit laws_and_regulatory_requirements.pptxSourabhNath4
Hello, cyber security notes and all. Details and various things.jsksjdhrjkdhdjdjdksjsbdks skgidbsks. Dudye8heueodheieheidhieheue. Sjsjsuowbsiskwbwiwngeiee wjehueowneur
As banks prepare themselves for the open banking journey and being able to share high-quality and accurate data with third parties, they face two immediate needs - a strong data governance and a robust data management framework that offers adequate data privacy and security measures.
FATCA: why is it so difficult even after so many years?HEXANIKA
Under this law, all non-U.S. Foreign Financial Institutions (FFI’s) are required to search their records for U.S. persons and to report the assets and identities of such persons to the U.S. Department of the Treasury. Read the detailed report here:
Cyber Security Unit laws_and_regulatory_requirements.pptxSourabhNath4
Hello, cyber security notes and all. Details and various things.jsksjdhrjkdhdjdjdksjsbdks skgidbsks. Dudye8heueodheieheidhieheue. Sjsjsuowbsiskwbwiwngeiee wjehueowneur
As banks prepare themselves for the open banking journey and being able to share high-quality and accurate data with third parties, they face two immediate needs - a strong data governance and a robust data management framework that offers adequate data privacy and security measures.
Has the initial goal of bringing order to the financial markets been achieved?
Has there been an overreaction and new regulations have inhibited the free market system and specifically liquidity?
What clarity of legal thought has now evolved which can be trace through the various regulations and does it enhance established legal principles?
Is there now an emerging need for deregulation to re-dress the balance of new regulations?
2
Good to Know: Federal Grants Management Fundamentalsnado-web
During the 2019 NADO Annual Training Conference (October 19 - 22 in Reno, NV), Bob Lloyd shared information on the fundamentals of federals grant management rules.
Data protection for Lend.io - legal analysis by Bird and BirdCoadec
New EU data protection rules are coming, with the General Data Protection Regulation likely to be agreed in the next few months. It will have a massive impact on digital businesses
To bring this rather dry subject to life, Coadec working together with techUK has commissioned a leading data protection law firm to look at what current drafts of the new law would mean for a fintech startup we invented, Lend.io.
The Dodd-Frank Act has broad and deep implications that will touch every corner of finance. Title VII impacts the OTC derivatives market. This presentation provides an overview of ISDA's DF Protocol.
Distributed Ledger Technology for the Securities IndustryLaura Anthony, Esq.
Distributed Ledger Technology for the Securities Industry- In addition to general information, during this LawCast series I have been summarizing a report issued by FINRA in January, 2017 discussing the implications of DLT for the securities industry, including FINRA member broker dealer firms. In the report, FINRA specifically discussed some major areas of consideration. In these last two LawCasts in this series, I have been going through each of those topics as summarized in the FINRA report.
Related to Anti-Money Laundering and Customer Identification Programs - DLT allows for global and anonymous participation, and accordingly practices and regulations will need to address anti-money laundering (AML) and customer identification obligations (CIP). The Bank Secrecy Act of 1970 requires controls and procedures to detect and prevent money laundering. FINRA Rule 3310 addresses AML obligations.
In addition, FINRA Rule 2090, the Know Your Customer (KYC) rule, requires firms to “use reasonable diligence, in regard to the opening and maintenance of every account, to know (and retain) the essential facts concerning every customer and concerning the authority of each person acting on behalf of such customer.” Technology is already being explored to centralize identity management functions such that once a customer identity is verified, the information can be shared with all network participants. Obviously this would greatly streamline processes for broker-dealers and customers alike.
It is likely that DLT technology will surpass regulatory changes in the AML/CIP/KYC sectors. The FINRA report notes that the current rules allow a firm to outsource functions to third parties, but not overall responsibility. Accordingly, a firm could utilize DLT technology for these functions now if they can fashion internal controls and procedures that comply with the ultimate rule responsibilities....
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Legal & Compliance, LLC- Whitepaper- The DPO Process Including Form S-1 Regis...Laura Anthony, Esq.
The DPO Process Including Form S-1 Registration Statement Requirements- One of the methods of going public is directly through a public offering. In today’s financial environment, many Issuers are choosing to self-underwrite their public offerings, commonly referred to as a Direct Public Offering (DPO). Management of companies considering a going public transaction have a desire to understand the required disclosures and content of a registration statement...
June 4, 2021 saw SEBI issuing circular dealing with centralized database maintained for corporate bonds / debentures.
.
The Circular outlines the process & prescribes a list of data fields to be shared by relevant stakeholders with each other for maintenance of an up-to-date centralized informative system for Investors.
.
Here's a short synopsis of actionable assigned to various parties.
US/ Canada cross-border tax planning could be impacted by the recent finalization of Section 385 regulations by the IRS and Treasury Department. Because most of these new rules apply with an effective date reaching back to April 5, 2016, it is imperative that Canadian companies with U.S. activities assess their potential impact and develop a strategy for managing their exposure to these rules.
The European Banking Authority (EBA) launched a consultation on its draft Regulatory Technical Standards on assessment methodology for internal ratings-based approach. These draft RTS are a key component of the EBA's work to ensure consistency in models outputs and comparability of risk-weighted exposures and will contribute to harmonize the supervisory assessment methodology across all EU Member States. The consultation runs until 12 March 2015.
Has the initial goal of bringing order to the financial markets been achieved?
Has there been an overreaction and new regulations have inhibited the free market system and specifically liquidity?
What clarity of legal thought has now evolved which can be trace through the various regulations and does it enhance established legal principles?
Is there now an emerging need for deregulation to re-dress the balance of new regulations?
2
Good to Know: Federal Grants Management Fundamentalsnado-web
During the 2019 NADO Annual Training Conference (October 19 - 22 in Reno, NV), Bob Lloyd shared information on the fundamentals of federals grant management rules.
Data protection for Lend.io - legal analysis by Bird and BirdCoadec
New EU data protection rules are coming, with the General Data Protection Regulation likely to be agreed in the next few months. It will have a massive impact on digital businesses
To bring this rather dry subject to life, Coadec working together with techUK has commissioned a leading data protection law firm to look at what current drafts of the new law would mean for a fintech startup we invented, Lend.io.
The Dodd-Frank Act has broad and deep implications that will touch every corner of finance. Title VII impacts the OTC derivatives market. This presentation provides an overview of ISDA's DF Protocol.
Distributed Ledger Technology for the Securities IndustryLaura Anthony, Esq.
Distributed Ledger Technology for the Securities Industry- In addition to general information, during this LawCast series I have been summarizing a report issued by FINRA in January, 2017 discussing the implications of DLT for the securities industry, including FINRA member broker dealer firms. In the report, FINRA specifically discussed some major areas of consideration. In these last two LawCasts in this series, I have been going through each of those topics as summarized in the FINRA report.
Related to Anti-Money Laundering and Customer Identification Programs - DLT allows for global and anonymous participation, and accordingly practices and regulations will need to address anti-money laundering (AML) and customer identification obligations (CIP). The Bank Secrecy Act of 1970 requires controls and procedures to detect and prevent money laundering. FINRA Rule 3310 addresses AML obligations.
In addition, FINRA Rule 2090, the Know Your Customer (KYC) rule, requires firms to “use reasonable diligence, in regard to the opening and maintenance of every account, to know (and retain) the essential facts concerning every customer and concerning the authority of each person acting on behalf of such customer.” Technology is already being explored to centralize identity management functions such that once a customer identity is verified, the information can be shared with all network participants. Obviously this would greatly streamline processes for broker-dealers and customers alike.
It is likely that DLT technology will surpass regulatory changes in the AML/CIP/KYC sectors. The FINRA report notes that the current rules allow a firm to outsource functions to third parties, but not overall responsibility. Accordingly, a firm could utilize DLT technology for these functions now if they can fashion internal controls and procedures that comply with the ultimate rule responsibilities....
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Legal & Compliance, LLC- Whitepaper- The DPO Process Including Form S-1 Regis...Laura Anthony, Esq.
The DPO Process Including Form S-1 Registration Statement Requirements- One of the methods of going public is directly through a public offering. In today’s financial environment, many Issuers are choosing to self-underwrite their public offerings, commonly referred to as a Direct Public Offering (DPO). Management of companies considering a going public transaction have a desire to understand the required disclosures and content of a registration statement...
June 4, 2021 saw SEBI issuing circular dealing with centralized database maintained for corporate bonds / debentures.
.
The Circular outlines the process & prescribes a list of data fields to be shared by relevant stakeholders with each other for maintenance of an up-to-date centralized informative system for Investors.
.
Here's a short synopsis of actionable assigned to various parties.
US/ Canada cross-border tax planning could be impacted by the recent finalization of Section 385 regulations by the IRS and Treasury Department. Because most of these new rules apply with an effective date reaching back to April 5, 2016, it is imperative that Canadian companies with U.S. activities assess their potential impact and develop a strategy for managing their exposure to these rules.
Similar to CH&Cie - Rethinking Client Onboading (20)
The European Banking Authority (EBA) launched a consultation on its draft Regulatory Technical Standards on assessment methodology for internal ratings-based approach. These draft RTS are a key component of the EBA's work to ensure consistency in models outputs and comparability of risk-weighted exposures and will contribute to harmonize the supervisory assessment methodology across all EU Member States. The consultation runs until 12 March 2015.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
2. 2
– OTC clearing will call for an update of legal documentation (ISDA, give‐up
agreements…)
– Reporting to trade repositories with time constraints will imply a more efficient
onboarding
Dodd Frank Act –
Title VII
U.S.
– More robust identification and more extensive classification schemes will need to
be applied
– More detailed relationships (e.g. agent, principal) may need to be stored for more
granular credit risk calculation and disclosure
Dodd Frank Act –
Volcker Rule
U.S.
Legal Entity
Identifier
Global
– Initiative currently incorporated into Dodd Frank and expected to be adopted by
European regulators
– New identifier field to be captured and existing client data will need to be cleansed
to incorporate the LEI
– Liaison to be built with Third Party Swap Data Repository
EMIR Europe
– Similar requirements as DFA with regards to clearing documentation and reporting
rules (see Appendix for the table of fields to be reported)
FATCA Global
– AML: Stricter CDD and Client Acceptance procedures
– KYC: Additional Client Profile requirements
– Tax Identification Number (TIN or GIIN) needs to be collected for US persons
Basel III Global
– Will require centralized data to support risk management calculation and a re‐
evaluation of the types of customers and Due Diligence ahead of client onboarding
MIFID II and
Market Abuse
Europe
– Increased focus on client categorization and eligibility
– New KYC checks and approvals
– Beneficial owner identification and disclosure
– Enhanced Due Diligence in certain situations of high risk
4th AML Directive Europe
Rethinking Client Onboarding
Key Regulatory impacts on Client Onboarding
Regulation Jurisdiction Impacts on Client Onboarding People Process SystemsData
Resolution
Planning
Global
– SIFIs must provide detailed recovery and resolution plans for unwinding in case of
default, including relationships with key counterparts and clients
3. Systems
Multiple regional and/or product systems
Current IT architecture does not support
necessary changes to client portals,
workflows and compliance/ops systems
Major roadblock leading to operational
breaks
Lack of synchronization among multiple
systems
1
3
Need to transform the onboarding
function to allow timely response to
regulatory changes
24
Data
Lack of defined Golden source with
incorrect mapping between sources and
downstream systems
Operated across siloed data sources
Lack of unique client identifiers
Non‐homogeneous client account
hierarchy used especially with funds
Process
Fragmented process that prevents seamless
onboarding function and no centralized
view of a client
High operational risk linked to manual
processes
Difficulties reporting status of approval,
documentation and client requests
Standard Operating Procedures (SOP) are
often poorly defined and shared globally
People
Increasing workload putting resources under
pressure
Client onboarding viewed as routine process
Overall ownership of end‐to‐end process rarely
exists; roles and responsibilities are often
unclear
Lack of information sharing between front and
back office generating no revenue‐sharing
model
Rethinking Client Onboarding
Challenges faced by Corporate and Investment Banks
3
4. 4
Rethinking Client Onboarding
Key success factors and benefits (1/2)
Key Success Factors Benefits
Single Point of
Contact
Give ownership to a dedicated Onboarding team across the various business
lines and divisions
Identify dedicated contacts across the business for internal requests
Establish a governance body to provide leadership and oversight
Draft SLAs to make all the stakeholders in the onboarding process
accountable
Improve client satisfaction by avoiding
multiple requests
Move from a traditional siloed approach
to a functionally unified client‐centric
governance model
Ease the access to information
Create synergies between business lines
1
Global
Organization
Deploy the organization globally across the different territories
Rationalize organizational structures to avoid delays in understanding needs
Base the global onboarding policy around the most stringent regulations and
accommodate the different jurisdictions
Adopt a horizontal approach to managing compliance with existing and new
regulations
Set up global standards to serve clients
and provide consistent information
whatever the location
Create synergies and leverage best
practices of each territory
Smooth out the communication
Create flexibility to quickly adapt the
organization to regulatory changes
2
Process
Standardization
Define a master list of client document requirements before contacting
clients
Ensure that the COB team controls the master document and prevent from
other groups to ask additional documentation
Set up similar processes for all the business lines
Set up a global document management solution
Study the opportunity to offshore some functions related to client
onboarding (static data input and maintenance for instance)
Avoid back and forth with the client to ask
additional documents
Homogenize the processes across
business lines
Create synergies between business lines
and territories
Improve the efficiency of the process,
reduce overall onboarding time and
associated costs and lower operational
risk
3
5. 5
Key Success Factors Benefits
Data
Centralization
and Quality
Define a golden source of client data with a client data repository acting as a
client onboarding master database with:
A client identifier as a primary key
A cross reference with alternative identifiers within the COB framework
A standard client hierarchy
Ability to support different statuses of client activity lifecycle
Define your own set of key client data attributes then focus on the client’s
risk profile, trading preferences etc. at a granular level
Set up a single cross reference to link clients, accounts and documents
Automate wherever possible – onboarding of low‐profile risk, referential
controls…
Focus on the LEI
Make sure that there are no multiple entry points for keying the LEI and
cross‐reference between multiple identification schemes and taxonomies
The LEI field within the KYC database should feed into legal, credit, collateral
and operations systems for the purposes of consistency and transparency
LEIs should connect to each other and properly reflect their hierarchies
throughout the system
Enhance entity databases to include hierarchies, management profiles and
linkages to underlying asset classes, link entity level corporate actions data
Get a holistic view of client’s activities
Promote a single view of the client
Avoid repeatedly asking clients for the
same information
Attributes and hierarchies consistency
Correct mapping between sources and
downstream systems
Ability to support the lifecycle of an entity
on an ongoing basis
4
Rethinking Client Onboarding
Key success factors and benefits (2/2)
Monitoring
Establish a governance body to provide leadership and oversight
Define KPIs to measure the performance of client onboarding operations
end‐to‐end and monitor the business (segmentation, cross‐selling…)
Leverage client profiles for credit risk management and capital requirements
Build a monitoring process which takes into account potential changes of
client and counterparty classification throughout their lifecycle
Get a clear view of responsibilities
React more quickly to potential changes
in due diligence requirements
Enhance risk management, cross‐selling
analysis, client segmentation and
profitability reporting
5