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- Not if you want to obtain the best quality and cost-effective service from your banks. Banks and other financial institutions are strictly and increasingly regulated. The constraints they are working under include anti money laundering (AML), countering the financing of terrorism (CFT) and sanctions compliance.
learning.treasurers.org/resources/understanding-regulation-for-treasurers
Apr 26, 2023 · Regulation and compliance are core work for treasurers. Mastering them and collaborating with colleagues and specialist support saves time and costs, and enhances reputation. Ignoring them is not an option.
From PSD2 to GDPR, and from IFRS16 to KYC, the challenges of regulatory change extend far beyond the numerous acronyms. Which regulations should treasurers be focusing on in 2019 – and with many treasury teams operating on a streamlined basis, how can treasurers best understand and manage the implications of the recent and upcoming changes?
Dec 7, 2023 · To avoid penalties, treasurers should ensure that they are aware of all relevant regulations and reporting requirements. They should also ensure that they have robust internal controls in place to monitor compliance and detect any issues early on.
Both recent and more established regulations can present challenges for treasurers. KPMG’s 2015 Global Corporate Treasury Survey found that Basel III and EMIR were seen as the regulations with the greatest impact on corporate treasury, both cited by 92% of respondents.
The treasurer must ensure that all foreign exchange transactions comply with the relevant regulations in each country, such as the Dodd-Frank Act in the United States, which imposes certain reporting and clearing requirements for over-the-counter derivatives.
Nov 30, 2023 · Treasurers can stay informed about financial regulations by following regulatory bodies such as the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). These regulatory bodies provide regular updates on new regulations and changes to existing regulations.
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• ring fencing: how might disparate regulations across different jurisdictions affect treasurers? • the retreat from global banking – a return to protectionism?
