Australia: Banking Misconduct + RegTech |Regulation Asia

Starling Team

Starling’s own Jeff Kupfer and Stephen Scott say that Australia may emerge as a world-leader in RegTech adoption as a remedy to banking culture and misconduct issues.

On 30 March, Starling Trust released its annual Compendium, a report on global regulatory activities aimed at promoting improved culture and conduct in the banking sector.

In the first of a series of articles, in collaboration with Regulation Asia, we discussed how the UK Financial Conduct Authority (FCA) has been a definitive leader in driving the global supervisory agenda in relation to culture and conduct risk.

In this week’s article, we spotlight Australia, where issues of banking culture and misconduct took centre stage during 2018.

Read the full piece here.

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Trends For Compliance Professionals | Forbes

Starling Team

The pressure to support growth while reducing cost is causing compliance operating models to evolve. The compliance function is the “second line of defense” in risk management. However, 60% of the professionals that responded to a study by Forbes say the responsibilities that were previously performed by compliance have shifted to operational management.

Addressing regulatory initiatives is still a concern. Improving responsiveness to business needs is the largest driver of transformation in compliance. That said, compliance needs to adopt technologies such as artificial intelligence and natural language processing and artificial intelligence (AI). This will enhance their teams’ skills and improve productivity.

Read more about four emerging trends for compliance professionals.

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Rethinking the Future of Regulation | Financial Times

Starling Team

In preparation for the UK’s post-Brexit relationship with the EU, the Financial Conduct Authority is examining the future of regulation.

Beyond the future of regulation and discovering the role technology would play, the FCA plans to prioritize work on culture, financial crime, and fair customer treatment. According to Mr. Bailey, the FCA will try to balance supervisory responsibilities with shaping global regulation by working with international organizations and overseas regulators.

Read the full piece here.

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Culture & Conduct: the Global Regulatory Agenda | Regulation Asia

Starling Team

The UK FCA has been a definitive leader in driving the global supervisory agenda in relation to culture and conduct risk, say Jeff Kupfer and Stephen Scott at Starling Trust Sciences

On 30 March, Starling released its annual Compendium, a report on global regulatory activities aimed at promoting improved culture and conduct in the banking sector. Benefitting from input from regulators in Hong Kong, Singapore, Australia, the UK, and the Netherlands.

This report outlines several key trends. Click here to read the full article and discover some of the key themes and findings from the Compendium.

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Capitalist System + Harvard Business School | The Harvard Crimson

Starling Team

Nitin Nohria, Dean of Harvard Business School says that one challenge the school is facing today is the erosion of faith in capitalism.

His stance is that since the Business School has been closely associated with trends in business, it must also work toward reassuring society that the capitalist system is productive.

According to Nohria, “We — as a school that has often been associated with business, which is closely associated with capitalism — need to ask, ‘what can we do to make sure that society’s trust in capitalism remains strong and can be rebuilt.” Nohria notes.

He also notes that Harvard has taken actions to address this, including providing more courses focused on economic structure.

Read more on the Capitalist System + Harvard Business School

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