RegWatch - Edition #10

Your weekly briefing on regulation, risk, financial crime, and compliance matters

Regulatory Recap

Regulator set to postpone UK bank capital reforms until at least January 2026

The Bank of England’s Prudential Regulation Authority (PRA) is set to delay its entire Basel 3.1 package until at least January 2026, with an official announcement expected in the coming days, Bloomberg News reported. Read more

FinCEN Issues Final Rule to Establish AML/CFT Requirements for Investment Advisers

The final rule adds "investment adviser" to the definition of "financial institutions" under the Bank Secrecy Act. Read more

Swiss court convicts two executives over $1.8 billion 1MDB fraud

The Swiss Federal Criminal Court convicted on Wednesday two executives at an oil exploration company for embezzling more than $1.8 billion from Malaysia's state investment fund 1MDB. Read more

More Money Laundering Cases Head to Court, Say KPMG

Nine money laundering cases have been heard in UK courts so far this year, worth a collective ￡128.2 million. Read more

Treasury Department releases semiannual regulatory agenda

The Treasury Department recently issued its semiannual agenda to indicate that the Financial Crimes Enforcement Network intends to move forward on three notices of proposed rulemaking: the revised Bank Secrecy Act program rule, the revised customer due diligence rule (anticipated for October) and the investment adviser customer identification program requirements rule. Read more

We'll be at Dreamforce

17 - 19 September | Moscone Center, 474 Howard St, San Francisco, CA

Fenergo is delighted to be a partner and sponsor of the Zenn SkyLounge at Dreamforce 2024.

We will be demonstrating our suite of solutions that enable organizations to achieve greater operational efficiencies, reduce risk, transform client experience, and unlock revenue potential.

In Case You Missed It...

Al in Client Lifecycle Management - Interview

At Money 20/20 EU, Fenergo’s Chief Strategy and Marketing Officer, Stella Clarke, was interviewed by Financial IT about artificial intelligence (AI) in client lifecycle management (CLM).