To better appreciate the challenges of the Fund Industry, we need to acknowledge its several market actors with their different regulatory engagements towards the Fund & Market regulators. These actors include the Manager, the Administrator, the Regulator/Auto Regulator, the Distributor, the Auditor, the Asset Controller, the Liabilities Controller, the Risk Agent, the Autonomous Agent, the Consultant, the Lawyer, the ClearingRead more

CP16/22 – Implementation of the Basel 3.1 standards At the end of November 2022, the Prudential Regulation Authority (PRA) published a Consultation Paper 16/22 (CP16/22) proposing the implementation of Basel 3.1 standards with responses requested by Friday 31st March 2023. CP16/22 – Implementation of the Basel 3.1 standards | Bank of England This Consultation Paper (CP) covers the parts of

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  The US Federal Reserve Supervision and Regulation Report (“Report”) has been issued for 2022, the purpose of which is to describe banking conditions, and the Federal Reserve’s supervisory and regulatory activities. In this blog we explore some of the key points raised in the Report, particularly with respect to the findings in the Supervisory Activities which revealed the respondent

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Financial Market participants are under pressure to incorporate ESG metrics into all aspects of their business activities. ESG represents a socio-economic priority both at the international level such as COP26 and the World Bank and ESF initiatives can be seen to extend into local national policies. For an individual firm its clients, shareholders, investors and even employees all seek referenceRead more

For generations, it seems, VERMEG has been the leading go-to support for electronic statistical reporting for firms to the Bank of England.  And, as sure as the passing of the seasons, and the phases of the moon, it has come to pass that the generations move on again – and once again VERMEG is here for the required support as

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On 28th of September 2022, we delivered FutureFit 2022, the UK’s Leading Regulatory Reporting Conference focused on prudential and financial reporting! VERMEG hosted over 200 very well-engaged delegates and we were delighted with what we were able to cover.  We are hugely grateful for the input from firms including VERMEG clients, and from partners, trade associations, and regulators all workingRead more

At VERMEG we are proactive and engage with our clients about the regulatory landscape. It’s my job to interpret the rules on a global basis.  So, let’s take a look at a few of the biggest trends that we’ve seen over the last 12 months, and also at what is coming up soon.   Changes in 2021 To get started,

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VERMEG North America has successfully implemented the revision to the FR 2052a, the Complex Institution Liquidity Monitoring Report. The Board of Governors of the Federal Reserve System (Board) has extended for three years, with revision, effective May 1, 2022, FR 2052a reporting requirements for banking organizations subject to Category I standards and October 1, 2022, for banking organizations subject to Category

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There has been a lot written about the EBA’s new treatment of software assets, reportable from Q4 onwards.  It represents a useful change for banks that have invested in large IT projects.  Rather than the former rule of simply deducting all software assets from Capital, firms are now allowed to retain a portion of the financial outlay as a capital

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