Compliance & Regs

Creating an Effective Vendor Risk Management Program

Regulations including Basel II, SOX, PCI-DSS, HIPAA, GLBA and FFIEC guidelines, among others, mandate that risk-management policies extend to third-party vendors. There are additional motivations to assess third-party risk, including protecting a company’s reputation from being damaged by another company’s actions.…

Bank Regulations in Hong Kong

Hong Kong’s Financial Center Hong Kong is a major international financial center, comprising an integrated network of institutions and markets which provide a wide range of products and services to local and international customers and investors. Hong Kong’s financial markets…

Account Relationships with Third-Party Payment Processors

FDIC Clarifying Supervisory Approach to Institutions Establishing Account Relationships with Third-Party Payment Processors On July 28th 2014, the FDIC issued a Financial Institution Letter (FIL-41-2014) that clarifies the supervisory approach to institutions establishing account relationships with third-party payment processors. As…

The Volcker Rule: Mission Impossible

Politicians have given a lot of attention to the Volcker Rule in testimonies to the House and Senate in early February and even in Federal Reserve Chair Janet Yellen’s first semiannual monetary policy report to Congress. Not a single politician,…

Derivatives Transparency Is Essential to End TBTF

Thomas Hoenig of the Federal Deposit Insurance Corp. recently highlighted a number of key items left in regulators’ agenda to end “too big to fail.” Speaking at the National Association for Business Economics conference in Arlington, Va., Vice Chairman Hoenig…

Why the Bank Leverage Ratio Is Important

Mayra Rodríguez Valladares is managing principal at MRV Associates, a New York-based capital markets and financial regulatory consulting and training firm. She is also a faculty member at Financial Markets World. In speaking about the leverage ratio, an extremely important…