Category Archives: Financial Services

Martin Wheatley Interview: The Future of Regulation

Martin Wheatley interview

Willis and the Chartered Institute for Securities & Investment (CISI) welcomed Martin Wheatley, CEO of the Financial Conduct Authority to a full house in the Willis Auditorium in London for a discussion on Thursday November 20th. Continue reading →

5 Ways to Strengthen the FCA, PRA and Insurance Industry Relationship

teammates

Today, the insurance industry’s relationship with the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) is strong. Looking to the future, there are five ways to further strengthen our relationship to ensure that together we respond positively to the … Continue reading →

US Long-Arm Jurisdiction Creates New Terrorism Headaches for Banks (Among Others)

terrorism funding

I am indebted to John Blancett, partner of law firm SDMA for drawing my attention to a startling decision of the US Court of Appeal for the Second Circuit: Tzvi Weiss et al. v. National Westminster Bank Plc (judgment delivered … Continue reading →

5 Tips to Prepare for the Senior Managers Regime

senior management regime

On 23 October the Treasury Committee published its report, Project Verde, in which it was highly critical of the current Approved Person’s Regime. Continue reading →

ECB Stress Tests: The Whole Truth?

European Central Bank

On October 26th, the results of European Central Bank’s European Union-wide asset quality review (AQR) and stress test were published. An exercise covering 123 banking groups from 22 countries with a total of EUR 28 trillion assets as of December … Continue reading →

Misuse Confidential Information and Risk a Significant Payment

stealing secrets

A recent decision of the English High Court found Barclays Bank liable to pay damages of €10 million to CF Partners for breaching an equitable duty of confidence. The Court held that the bank had misused confidential information, supplied by … Continue reading →

Marking the Close – Old Fraud by New Means

trader computer

The US Security and Exchange Commission (SEC) recently fined a high-frequency trading firm a cool $1 million to settle charges that the firm had used their sophisticated algorithmic trading system to “mark the close” or “bang the close.” “Marking the … Continue reading →

Scariest Risks of 2014

Scariest risks 2014

As risk advisors, WillisWire bloggers tend to think less of ghouls and goblins during the Halloween season than of the frightening real risks our clients face. This year they faced more than their share of new ones, with ISIS, Ukraine, … Continue reading →

Millennials – Changing How We Bank

phone-credit-card-jeans

Banks must evolve and tailor their service platform for the huge Millennial demographic--or face the disintermediation experienced by other industries. Continue reading →

Big Data for Banks: Friend, or Foe?

big-data

While the jury is still out on the matter, a realistic answer at the present time would most probably be “both”. In this blog, I will explore and share the rationale for why this is so and how to manage … Continue reading →