Financial services regulatory publications

US regulatory agenda

Timeline of events related to major US regulatory topics.

US Net Stable Funding Ratio

April 2016

Five key points from the US Net Stable Funding Ratio.

US regulators’ bonus compensation proposal

April 2016

Five key points from US regulators’ bonus compensation proposal.

Agencies’ resolution plan feedback

April 2016

Ten key points from Agencies’ resolution plan feedback.

Bank fraud: Old defenses won’t stop new threats

April 2016

Ten key steps for preventing fraud attacks.

DOL’s fiduciary duty rule

April 2016

Ten key points from the DOL’s fiduciary duty rule.

OCC’s financial innovation paper

April 2016

Five key points from the OCC’s financial innovation paper.

Hacks and leaks in the news: Four key AML steps for banks

April 2016

Knowing the ultimate beneficial owners of your clients has never been more necessary.

EU's MiFID II: Double jeopardy for global banks

April 2016

MiFID II's compliance extension delays the inevitable for US and global firms.

Sanctions: Cuba restrictions falling

April 2016

OFAC’s new rules create new business opportunities for financial institutions.

Basel's proposed restrictions on internal models for credit risk

April 2016

Five key points from Basel Committee’s proposed restrictions on internal models for credit risk.

Basel’s enhanced disclosure proposal

March 2016

Five key points from Basel’s enhanced disclosure proposal.

Basel's Standardized Measurement Approach for operational risk

March 2016

Ten key points from Basel's Standardized Measurement Approach for operational risk.

Fed's single-counterparty credit limits proposal

March 2016

Ten key points from the Fed's single-counterparty credit limits proposal.

Interagency Funds Transfer Pricing guidance

March 2016

Five key points from the interagency funds transfer pricing guidance.

Resolution: Deposit calculations on demand

March 2016

The FDIC proposes shifting deposit insurance calculation to banks.

Fraud: Email compromise on the rise

February 2016

How to prevent account takeover attacks.

Derivatives: Year-ahead US roadmap

February 2016

A busy year ahead for swap dealers.

Cyber: Global data transfer still in disarray

February 2016

The new “Privacy Shield” data transfer agreement presents three key challenges for financial institutions.

Foreign Banks: Resolution plans meet IHCs

February 2016

Foreign firms must incorporate IHCs into their 2016 resolution plans.

Iran sanctions and beyond: Avoiding the rising fines

February 2016

The shifting regulatory landscape presents four key challenges for financial services firms.

December resolution plans: Déjà vu all over again

February 2016

This year's public plan summaries are consistent with last year's plans with some exceptions.

Fed's 2016 CCAR summary instructions and supervisory scenarios

February 2016

Ten key points from the Fed's 2016 CCAR summary instructions and supervisory scenarios

AML: Do you really know your customer?

January 2016

Financial institutions should begin implementing FinCEN's proposed KYC requirements.

Basel's Fundamental Review of the Trading Book

January 2016

Ten key points from Basel's Fundamental Review of the Trading Book.

Board governance: Higher expectations, but better practices?

January 2016

Our detailed survey and analysis of the US's largest banks.

Cyber: Sharper rules for market infrastructure

December 2015

Proposed CFTC regulations will require testing programs to be enhanced at nearly every organization.

Fed's supervisory assessment of capital planning and positions

December 2015

Five key points from the Fed's supervisory assessment of capital planning and positions.

SEC's proposed derivatives rule to limit leverage for registered funds

December 2015

Ten key points from the SEC's proposed derivatives rule to limit leverage for registered funds.

OCC's recovery planning proposal

December 2015

Ten key points from the OCC’s recovery planning proposal.

Cyber: Securing your Internet of Things

December 2015

As the number of connected devices continues to grow, so will the sophistication of cyber attacks.

Basel's re-proposed standardized approach for credit risk

December 2015

Basel's re-proposed standardized approach is a more viable alternative to internal models.

Insurers: Retirement plans look less golden

December 2015

DOL’s fiduciary duty proposal presents operational challenges for insurers.

Bank culture: It's about more than bad apples

November 2015

Organizational change won’t be easy, but regulators from around the world expect it.

Cyber: Is New York's regulator upping the stakes?

November 2015

DFS's proposal would challenge insurers and banks that are not among the largest players.

Fed’s finalized liquidity reporting requirements

November 2015

Ten key points from the Fed’s finalized liquidity reporting requirements.

Home mortgage rule: "More"-tgage data to report

November 2015

Getting the CFPB's new HMDA reporting right.

Derivatives: Clear road ahead for uncleared margin

November 2015

US banking regulators' final rule completes a four year rulemaking process.

Total loss Absorbency Capacity

November 2015

Ten key points from the Fed's proposed Total Loss-Absorbing Capacity.

Cyber: Global data transfer in disarray

November 2015

The EU's invalidation of "Safe Harbor" poses significant risk to US banks.

Matching SOX? CFO attestation for stress tests

October 2015

The Fed proposes that CFO's attest to the validity of their stress test data.

Broker-dealers: Lock in your liquidity

October 2015

FINRA's proposal presents five key challenges for broker-dealers

Cybersecurity: SEC round two

October 2015

The SEC's upcoming cyber exams will dig deeper than before.

SEC’s proposed liquidity risk management rules for mutual funds

September 2015

Ten Key Points from the SEC’s Proposed Liquidity Risk Management Rule for Mutual Funds.

Wave 1 filers' bank-subsidiary resolution plans

September 2015

Key points from Wave 1 filers' bank-subsidiary resolution plans

Cybersecurity: Enter insurance regulators

September 2015

State regulators will begin examining insurers next year.

Asset Managers: AML ready?

September 2015

Expect new SEC anti-money laundering enforcement.

Reg SCI: Ready for opening bell?

August 2015

Impacted entities face seven key challenges.

Fiduciary duty proposal: Disruptors at the gate

August 2015

Retirement ‎advisors are at a crossroads.

SEC’s swap dealer registration and waiver rulemakings

August 2015

Ten key points from the SEC’s swap dealer registration and waiver rulemakings.

Regulators' comments on Wave 3 resolution plans

July 2015

Key points from Fed/FDIC comments on Wave 3 resolution plans.

Sanctions: Iran open for US business?

July 2015

Sanctions relief makes life harder for US banks.

Fed’s proposed amendments to the capital plan and stress test rules

July 2015

Key points from the Fed’s proposed amendments to the capital plan and stress test rules.

Fed's final G-SIB surcharge rule

July 2015

Key points from the Fed’s final G-SIB surcharge rule.

Resolution: Single point of entry strategy ascends

July 2015

This year's public plan summaries provide more detail.

UK's final bonus compensation rule

June 2015

Key points from the UK's final bonus compensation rule.

Fed's volcker relief for foreign funds

June 2015

Key points from the Fed's Volcker relief for foreign funds.

AML global alignment: Two steps forward, one step back 

June 2015

The EU's new AML directive improves global harmonization but presents new challenges.

Asset managers: The SEC’s road ahead

May 2015

Upcoming rules will address reporting, liquidity, and stress testing.

Resolution: Deposit insurance – Burden shifts to bank

May 2015

The FDIC proposes that banks calculate payouts.

SEC's swaps proposal for non-US dealers

May 2015

Key points from the SEC’s swaps proposal for non-US dealers.

Fed supervision: DC in the driver’s seat

April 2015

The Fed continues to centralize its supervision of the largest institutions.

Cyber: Think risk, not IT

April 2015

Upcoming exams will dig deeper and result in more MRAs.

Sanctions: US action on cyber crime

April 2015

The first cyber sanctions program will soon name names.

Volcker underwriting: It's simple ... no need to overanalyze

March 2015

Leverage current processes to take the underwriting exemption.

Resolution preparedness: Do you know where your QFCs are?

March 2015

New QFC recordkeeping requirements effectively require daily reporting.

First take: CCAR stress testing

March 2015

Ten key points from the 2015 Comprehensive Capital Analysis and Review (“CCAR”).

First take: DFAST stress testing

March 2015

Ten key points from the Federal Reserve's 2015 Dodd-Frank Act Stress Test (DFAST).

EU bonus cap: The net widens

March 2015

EU closes loop holes and includes more banks and asset managers.

Volcker Rule: Are you really market making?

February 2015

Applying "reasonably expected near term demand" (RENTD).

Financial market utilities: Is the system safer?

February 2015

The Fed has been driving significant change at key FMUs.

SEC's swaps reporting and disclosure final rules

February 2015

Ten key points from the SEC’s swaps reporting and disclosure rules.

FINRA 2015 exams: Variable annuities

January 2015

Practical advice to prepare for FINRA's upcoming exams.

2014 FFIEC manual updates

January 2015

A summary of the substantive changes to the 11 sections of the FFIEC manual that received significant updates.

Private equity co-investment: Best practices emerging

January 2015

Co-investing is receiving enhanced SEC exam focus.

G-SIB capital: A look to 2015

December 2014

G-SIBs face capital requirements approaching 30%.

First take: Volcker Rule covered fund extension

December 2014

Ten key points from the Fed’s Volcker Rule covered funds extension.

First take: Cuba sanctions

December 2014

Key points from the President’s announcement on Cuba sanctions.

First take: Resolution plan guidance for CIDIs

December 2014

Ten key points from the FDIC’s resolution plan guidance.

First take: Swaps Push-Out

December 2014

Key points from Congress's roll-back of the Swaps Push-Out.

First take: Reg SCI

December 2014

Ten key points from the SEC’s final Reg SCI.

Asset managers: FSOC stands down, SEC stands up

November 2014

The SEC is poised to enhance its supervision of asset managers.

Broker-dealers: Countdown to new supervision rules

November 2014

Four new FINRA rules take effect on December 1st.

First take: TLAC

November 2014

Ten key points from the FSB’s TLAC ratio.

First take: The new Republican Senate

November 2014

Ten key points from last week’s elections.

Operational risk capital: Nowhere to hide

November 2014

Global banks should expect to hold about 50% more capital.

First take: Basel's final NSFR

November 2014

Ten key points from Basel’s final NSFR.

First take: SIFMU risk management standards

October 2014

Ten key points from the FRB's revised SIFMU risk management standards.

First take: CCAR Guidance and final Capital Plan amendments

October 2014

Ten key points from the 2015 CCAR Guidance and final revised Capital Plan rule.

First take: Risk retention

October 2014

Ten key points from the final risk retention rule.

Financial services regulatory practice: How we can help asset managers

October 2014

PwC can help address regulatory compliance issues and manage regulatory risk effectively. Our asset management regulatory team, a part of the firm’s national financial services regulatory practice, is comprised of experienced professionals with diverse backgrounds in the asset management industry.

Recovery planning: Until the last gasp

October 2014

New federal reserve guidance expects plans to cover the full stress continuum.

First take: Supplementary leverage ratio

September 2014

Key points from the final US supplementary leverage ratio.

First take: Liquidity coverage ratio

September 2014

Ten key points from the final US liquidity coverage ratio.

Risk Governance: Banks back to school

September 2014

The OCC's final rule emphasizes risk governance at the bank level.

First take: Uncleared margin re-proposal

September 2014

Ten key points from the US prudential regulators’ re-proposed uncleared margin rule.

First take: Resolution plan guidance to largest firms

August 2014

Ten key points from regulators’ feedback to Wave 1 resolution plan filers.

Foreign banks: US admission price rising

July 2014

The Fed expects detailed implementation plans from foreign banks.

First take: SEC’s money market reform

July 2014

Ten key points from the SEC’s final money market rule.

US regulatory outlook: The beginning of the end

July 2014

Four years since Dodd-Frank, several key rulemakings remain.

Mandatory margin on TBAs: TBD, but not for long

July 2014

Margin will soon be required for broker-dealers' To-Be-Announced transactions.

First take: Capital Plan rule

June 2014

Key points from the Fed’s changes to the Capital Plan rule.

SEC sweep: Liquid alternative funds

June 2014

Our perspective on the SEC's upcoming liquid alts review.

Asset manager SIFI designation: Enter SEC

June 2014

Expect more SEC scrutiny of asset managers.

First take: SEC’s cross-border derivatives rule

June 2014

Ten key points from the SEC’s final cross-border rule.

Volcker rule clarity: Waiting for Godot

May 2014

While banks continue to wait for regulatory guidance, five key questions need answering.

Mortgages: What you don’t know about “Know Before You Owe”

April 2014

Meeting the challenges of the CFPB's new rule.

Stress testing: A look into the Fed’s black box

April 2014

Making sense of the results from CCAR 2014.

First take: Basel III large exposures framework

April 2014

Ten key points from Basel’s new large exposures framework.

2014 Resolution Plans: The guidance you won’t receive

April 2014

Five suggestions for Category 1 firms deciding whether – and how – to revise their resolution plans before the July 2014 deadline.

Liquidity coverage ratio: No blood, but sweat and tears

April 2014

Expect changes to the US Liquidity Coverage Ratio when finalized this quarter.

First take: Supplementary leverage ratio

April 2014

Ten key points about the new US supplementary leverage ratio.

First take: CCAR stress testing

March 2014

Ten key points from the Fed’s 2014 Comprehensive Capital Analysis and Review (CCAR).

First take: DFAST stress testing

March 2014

Ten key points from the Federal Reserve's 2014 Dodd-Frank Act Stress Test (DFAST).

EU bonus cap: Restrictions nearly final for asset managers

March 2014

A bonus cap remains off the table for EU asset managers, but bonus restrictions may directly impact US fund managers.

Sanctions: US and EU action on Ukraine

March 2014

US and EU economic sanctions on Ukraine require action from banks.

17th Annual Global CEO Survey: Banking & Capital Markets Industry Summary

February 2014

A summary of key findings in the banking & capital markets industry, based on interviews with 133 banking & capital markets CEOs in 50 countries.

17th Annual Global CEO Survey: Asset Management Industry Summary

February 2014

A summary of key findings in the asset management sector, based on interviews with 123 asset management CEOs in 37 countries.

17th Annual Global CEO Survey: Insurance Industry Summary

February 2014

A summary of key findings in the insurance industry, based on interviews with 74 insurance CEOs in 39 countries.

Nonbank SIFIs: No solace for US asset managers

February 2014

A few, large US asset managers continue to be reviewed for designation as nonbank SIFIs.

First take: Enhanced prudential standards

February 2014

Ten key points from the Fed's enhanced prudential standards final rule.

Stress testing: First at bat for midsized firms

February 2014

Regulators will scrutinize midsized firms first stress testing submissions this spring.

Risk governance: OCC codifies risk standards, paving the way for increased enforcement actions

February 2014

The OCC's new risk governance proposal does more than codify heightened expectations.

Physical commodity activities: Too risky for banking organizations?

January 2014

Regulators are looking closely at new regulations for banks' physical commodity activities.

EU regulatory outlook

January 2014

Several key European regulatory developments are expected this year.

Resolution planning: Category 3 debrief

January 2014

The public portion of Category 3 US resolution plans reveal strikingly similar strategies.

Basel leverage ratio: No cover for US banks

January 2014

The latest Basel leverage ratio eases its approach and eliminates several differences with the US ratio.

More publications

Integrating compliance into financial technology initiatives

April 2016

Managing compliance risk throughout the technology development lifecycle will help to avoid costly and time-consuming actions to address regulatory concerns later on.

The next frontier: Managing insurer’s and brokers’ compliance with US economic sanctions

March 2016

The sanctions landscape is continually evolving, challenging, and complex.

Being better informed

January 2016

As we emerge out the other side of a heatwave, with the hottest day on record in June financial services issues again dominate newspaper front pages as the Greece crisis, and potential Grexit, became more urgent issues that could impact the daily lives of the general public as well as bankers and those focused on financial services regulation. After a Greek “no” vote in the recent referendum the future remains unclear.

At a Crossroad? Regulatory capital and Operational risk

June 2015

The effort to link operational risk regulatory capital to operational risk management via the AMA seems to have reached an impasse. What happened and what is the possible path forward?

Shortening the settlement cycle: the move to T+2

June 2015

As the industry moves through the phases of the T+2 migration effort, the ISC will continue to engage with regulators and with organizations on the industry’s progress and next steps.

Significant others: How financial firms can manage third party risk

May 2015

Are third parties worth the risk for financial institutions? It’s a multibillion-dollar question when every week, yet another business interruption, data breach, or compliance failure seems to surface in the news. We believe the answer is “yes”—provided a firm takes the right approach to risk management. Ultimately, a robust third party risk management program may even make using third parties less risky than keeping those functions in-house.

An objective look at high frequency trading and dark pools

May 2015

Dark pools been sought by investors who are looking to avoid interacting with aggressive liquidity, usually from high frequency trading firms. What's the big deal?

The extra mile: Risk, regulatory, and compliance data drive business value

April 2015

Want to enhance business value while responding to risk, compliance, & regulatory needs? Learn how to go the extra mile.

Insights: DOL proposes to redefine fiduciary and update class exemptions

April 2015

New rules define fiduciary by reason of retirement investment advice and outline exemptions for common transactions.

Capital Markets 2020: Will it change for good?

April 2015

This report incorporates a survey of 250 capital markets players and reveals what their top three investment priorities are in the lead up to 2020.

That shrinking feeling: Tracing the changing shape of the European banking industry

February 2015

This report outlines the space that European banks are increasingly likely to occupy and attempts to shed light on how the industry has changed since the announcement of the Basel III rules in 2010.

Stress tests – Keeping up with the rising bar

February 2015

This new in-depth survey provides a benchmark against which responding organizations could compare experiences and capabilities with their peers.

Peer pressure: How peer-to-peer lending platforms are transforming the consumer lending industry

February 2015

Is P2P consumer lending a threat or an opportunity? This paper discusses how peer-to-peer lending platforms are transforming the consumer lending industry and the key considerations that financial institutions should evaluate when deciding on their strategic response.

PwC’s Regulatory Reform Review – Managing Upstream Risk

January 2015

This publication focuses on the following topics: FSIB has provided guidance on extending the regulations on resolution regimes and resolution planning to insurers, firms that hold client assets and financial market infrastructures; US and European regulators are pushing further in establishing a sound resolution regime for banks; Indonesia and China have unveiled plans to introduce deposit insurance schemes; The MAS consults on revisions to Notice 610 and 1003; and The HKMA has announced its outcome of the FX investigation on Hong Kong banks.

Including updates on CMU, structural reform and fair and effective markets

January 2015

Snapshots from Europe; First Take; Op Ed; Around the World

Banking & capital Markets

January 2015

Banking & capital markets CEO's current thinking about critical industry issues include digital transformation, innovative partnerships, diversity, and regulatory compliance.

Asset & wealth management

January 2015

Asset Management CEOs remain optimistic yet see both opportunities and threats. They’re disrupting other areas of financial services while anticipating more regulation.Asset Management CEOs remain optimistic yet see both opportunities and threats. They’re disrupting other areas of financial services while anticipating more regulation.

CEO Survey Insurance

January 2015

Insurance CEOs see more opportunities than they did three years ago, but also see more threats. Are they prepared for both?

2014 FFIEC manual updates

January 2015

A summary of the substantive changes to the 11 sections of the FFIEC manual that received significant updates.

Being better informed

January 2015

This month's publication focuses on the following: BCBS reviews standardized credit and market risk, EIOPA releases 16 consultations on Solvency II, and FCA extends regulation of benchmarks. We have two feature articles this month, one looking at ESMA's latest MiFID II consultation and the other on the role of climate change in the FS market.

Top Insurance Industry Issues in 2015

January 2015

The insurance industry is facing once-in-a-generation disruption. We discuss the challenges and opportunities confronting insurers, and provides insight on how to adapt to change.

Being better informed

December 2014

This month's publication focuses on the TLAC proposal for G-SIBS, changes to EMIR reporting requirements, KIDs for PRIIPs, and AIFMD passport for third countries. The feature article focuses on remuneration regulation.

CFPB’s Integrated Mortgage Disclosures under RESPA/TILA – “Know Before You Owe”

December 2014

A closer look at the likely significant changes to the closing process—changes that will impact the entire mortgage origination ecosystem, including creditors, borrowers, settlement agents and realtors.

Turning regulatory stress testing into competitive advantage

December 2014

Stress testing has become one of the primary prudential regulatory tools to enhance the resilience of the banking sector.

The role of model review, model risk management and continuous model monitoring

December 2014

The use of mathematical models represents a hugely positive benefit to the industry and the stability of the financial system as a whole.

Blurring the lines between risk and finance to achieve clarity

December 2014

Financial institutions are under pressure from business-unit leaders, investors, boards of directors and their regulators to deliver improved and more transparent performance management data.

Impact of bank structural reforms in Europe

November 2014

This study was commissioned by the Association of the Financial Markets in Europe (AFME) and expands the evidence available to policy makers as they consider the further policy development on the requirement for and specification of structural reforms.

Including updates on the Capital Markets Union, EMIR reporting and the G20 summit.

November 2014

Reinforcing credit supply: Why we need CMU; Evolving derivative reporting rules; Regulatory Reform Down Under

ESMA consults on changes to EMIR transaction reporting rules

November 2014

In this publication we explore ESMA’s recent proposals and discuss challenges that remain in creating a harmonized European derivatives reporting regime.

Being better informed

November 2014

This month's publication focuses on the results of ECB's stress test, clarifications by EC on the contributions to resolution funds and recommendations by the IAIS on basic capital requirements for G-SIIs. The feature articles look at EMIR reporting and the competition remit of the FCA.

Including updates on the EBA's stress test and the ECB's asset quality review

November 2014

Stress tests in number: Failed the test; Base Case Worst Performers; Adjustments due to AQR; Non-Performing Loans by Banks with CET1 Ratios in the Range 5.5% - 8%; G-SIBs CET1 Ratio; AQR Adjusted Leverage Ratio; Net Income; Summary

Including updates on risk governance and bank lending

October 2014

Top-down risk management; Will banks start lending again?; And also on the EU regulatory horizon

Being better informed

October 2014

This month’s feature article focuses on changes to the PRA’s approach in supervising international (non-EU) banks – in particular when the PRA will require the bank to establish a UK subsidiary rather than using a branch structure.

Financial services regulatory practice: How we can help asset managers

October 2014

PwC can help address regulatory compliance issues and manage regulatory risk effectively. Our asset management regulatory team, a part of the firm’s national financial services regulatory practice, is comprised of experienced professionals with diverse backgrounds in the asset management industry.

Threat smart: Building a cyber resilient financial institution

October 2014

Cyber risk is more than an IT issue; it’s a business issue. Find out how to build a cyber resilient organization.

Being better informed

September 2014

This month's publication focuses on the following: HMT and PRA consult on Solvency II implementation; UCITS V published in Official Journal; Progress report on ESAs; and ESRB and Payment Accounts Directive published in Official Journal. The feature article looks at the role of social media and how firms and regulators need to adapt their processes to generate good customer outcomes.

CFPB’s Proposed Rule Defining Larger Participants in a Market for Auto Finance

September 2014

Who could be a “larger participant” and how should they prepare for CFPB supervision? Exploring how the proposed rule could impact auto lenders and preparing for potential operational and compliance impacts.

CFPB’s Integrated Mortgage Disclosures under RESPA/TILA – “Know Before You Owe”

September 2014

Understanding key elements of the new rules and preparing for potential operational and compliance impacts, particularly the new definition of an “application,” and its impact to the origination process, including interactions with applicants, borrowers, and business channels.

Being better informed

August 2014

This month's publication focuses on the following: HMT, PRA and FCA consultations on BRRD; FCA looks at competition in the cash savings market; PRA and FCA propose new remuneration and approved persons regimes; and AIFMD transitional period ends. We have two feature articles this month, one looking at MiFID II dealing commissions and the other focusing on the continuing benchmark reform for asset managers and investment banks.

State of compliance 2014: Financial services industry brief

August 2014

Even though the corporate compliance function is better developed in the financial services sector than in other industries it continues to evolve.

Being better informed

July 2014

This month's publication focuses on the following: What firms should be doing now for MiFID II; HMT provides clarity on ring-fenced banks; and Solvency II steams ahead.

Including updates on systemically important asset managers and protecting client money

July 2014

Are asset managers systemically important?; Protecting client money; Waiting for Godot

CBI/PwC Financial Services Survey

June 2014

UK FS continue to enjoy an improving outlook, with economic growth stimulating confidence, demand and volumes of business. Most sectors expect to increase their headcount, although banking respondents are considering staffing reductions.

Being better informed

June 2014

This issue includes: publication of MiFID consultation and discussion paper by ESMA, the new Banking Standards Review Council finalization, preparation for Solvency II by EIOPA and PRA and FCA's focus on asset managers' fees.

Meeting the challenges of the crisis in Ukraine

May 2014

This paper looks at understanding current and potential exposure to the crisis in Ukraine and how to manage it.

Basel III and beyond - stretched to the limit

May 2014

This publication looks at the challenges presented by the Net Stable Funding Ratio (NSFR), how they interact with other incoming changes, and how banks will manage the impact on funding costs, maturity transformation and other fundamental aspects of the business model.

Being better informed

May 2014

This month we report on details of the European Parliament's "super Tuesday" where texts for Banking Union, MiFID II, PRIIPs and UCITS V were agreed; EIOPA, EBA and Bank of England reveal more information on this year's stress testing methodology for EU banks and insurers; European Commission consults on what are FX forward transactions; EIOPA and PRA consult on many of the details for Solvency II; and FCA took over regulating consumer credit firms from 1 April.

The future ain’t what it used to be: Why tier one investment banks need fundamental operating model changes

May 2014

Investment banks today have their backs against the wall with cost and regulatory pressures. Read on to learn how shifting operating models can be the game-changing key to success.

Stress testing: Temperature check

April 2014

The results of this survey are based on six of the eight banks participating in the 2014 Prudential Regulation Authority Concurrent Stress Test and describe the state of play at the end of April 2014.

Banking Banana Skins 2014

April 2014

Banking Banana Skins 2014 is sponsored by PwC and conducted by the Centre of the Study of Financial Innovation to explore what risks bankers worldwide are facing in the current climate and how they prioritise them.

Including updates on crowd funding and G20 summits

April 2014

Crowding out supply-side constraints to investment; G20 summits: do markets care?

Being better informed

April 2014

This month we report on crowdfunding, the FCA's business plan, and EMIR.

Including updates on the Single Resolution Mechanism and FX market investigations

April 2014

Political agreement on SRM; F(i)X market investigations

Being better informed

March 2014

This month we report on a number of important regulatory developments that will reshape the financial services landscape, including the FCA's finalized conduct of business rules for consumer credit firms and MiFID II.

Download the Retail Banking 2020 report

March 2014

Read PwC’s Banking 2020 for insights on teams from around the world and clients from leading global financial institutions.

17th Annual Global CEO Survey: Banking & Capital Markets Industry Summary

February 2014

A summary of key findings in the banking & capital markets industry, based on interviews with 133 banking & capital markets CEOs in 50 countries.

17th Annual Global CEO Survey: Asset Management Industry Summary

February 2014

A summary of key findings in the asset management sector, based on interviews with 123 asset management CEOs in 37 countries.

17th Annual Global CEO Survey: Insurance Industry Summary

February 2014

A summary of key findings in the insurance industry, based on interviews with 74 insurance CEOs in 39 countries.

Special issue: Preparing for real change

February 2014

New era for crisis management for banks; Basel Committee brushes up leverage and liquidity rules; Central banking in a world of flux

Asset Management 2020: A Brave New World

February 2014

This PwC report asks, and answers the question: What is the future of the asset management industry and how will you prepare?

Being better informed

February 2014

A monthly update on global regulatory issues, the regulatory agenda was a bit quieter in January than in recent months, but international and EU regulators issued some significant proposals to advance the long-running G20 initiatives.

The EU's Bank Recovery & Resolution Directive

February 2014

PwC’s paper, The EU's Bank Recovery & Resolution Directive explains why the BRRD is such an important milestone for Europe, within the context of the wider regulatory reforms taking place in the industry, and also highlights controversial and concerning aspects of the deal.

Being better informed

January 2014

A monthly update on global regulatory issues, this month we report on a number of important regulatory developments that will reshape the financial services landscape, including the UK’s newly minted Banking Reform Act and the US Volcker Rule.

Including updates on M&A activity and bankers pay

December 2013

Come together right now…over SSM; More money, more problems

Including updates on Benchmarking, EMIR and Solvency II

November 2013

Benchmarking on reform; And their off: countdown to EMIR reporting; Are you ready for Solvency II?

Capturing Model Risk & Uncertainty in Capital Planning: PwC Survey Results

November 2013

The results of PwC's survey provide an objective view of the range of practices being used to quantify model risk / uncertainty in the capital plans.

Including updates on crowdfunding and MiFID II

October 2013

Regulating Crowdfunding; MiFID II on the horizon: a tectonic shift

Global Information Security Survey: Financial Services

October 2013

As the frequency and costs of information security incidents continue to rise, financial services organizations face increasing threats from insiders and third-party partners, as well as intensified scrutiny from industry regulators.

Including updates on the G20 summit and shadow banking

September 2013

Much done, more to come: global regulatory reforms; Buffering Money Market Funds; Global response to shadow banks

Don’t make a meal of it: EU regulatory negotiations enter crucial stage

September 2013

EU financial services lawmakers face a staggering autumn workload with twenty nine legal texts currently being negotiated or expected to be tabled by the European Commission (EC) in the near future. To make any progress, legislators will need to prioritise but agreeing these priorities may not be straightforward in all areas. If some dossiers fail to make the priority list, we could end up with in incomplete regulatory regimes, and possibly market distortion, for years to come.

Let’s make a difference: Managing compliance and operational risk in the new environment

August 2013

Without a new approach to compliance and operational risk management, many banks will continue to face high costs and losses in the form of escalating litigation, penalties, and staffing.

Including updates on liquidity reporting, EMIR and FICOD

August 2013

Liquidity outflows: How many buckets does it take?; EMIR proposals narrow impact outside of EU; FICOD and CRR

Insurance 2020: A Quiet Revolution - The Future of Global Insurance M&A

July 2013

This PwC publication looks at the recent developments in the global insurance markets and discusses the growth prospects in both emerging and mature economies.

Including updates on letting banks fail, G-SIIs and risk appetite

July 2013

Breaking the taboo: letting banks fail; Hello G-SIIs; Risky business

Swap dealer compliance "day two" roundtable: Highlights and key insights

July 2013

On July 18th PwC hosted an industry roundtable to talk about Dodd-Frank “day two” compliance, that included a discussion with Gary Barnett, CFTC Swaps Division Director.

Including updates on cross-border OTC reforms, AIFMD and bank resolution

July 2013

US and EU regulators strike a deal on regulating cross-border derivatives; Don’t wait ‘til it’s too late: complying with AIFMD; Steps in resolving a Eurozone bank

Insurance Banana Skins 2013

July 2013

Insurance Banana Skins 2013 is piece of research conducted by PwC in association with the Centre for the Study of Financial Innovation (CSFI), an independent think tank. It's a survey of insurers and seeks out their views on current risk and future trends.

Including updates on the leverage ratio, priorities of the Lithuanian Presidency and more

July 2013

Banking on the leverage ratio; No surprises: Lithuanian Presidency outlines its priorities; A rising economy lifts all banks

2013 Global Private Banking and Wealth Management Survey

July 2013

PwC's 2013 Global Private Banking and Wealth Management Survey offers insight into industry trends and strategic priorities for global wealth and asset managers.

Including updates on pending EU reforms, CRD IV and credit rating agencies

June 2013

Next stop, Vilnius: what FS reforms are coming down the tracks in Europe; Are you still relying on credit ratings?; It’s raining RTSs

Alternative Investment Fund Managers Directive - Impact on US Managers

May 2013

This white paper is intended to inform US asset managers of the possible consequences of AIFMD, and answer some frequently asked questions.

Including updates on MiFID, retail bank accounts and valuing CIS

May 2013

Black smoke on MiFID II; Moving towards a single retail bank account market in Europe; Effectively valuing Collective Investment Schemes

Including updates on CRD IV, financial transaction tax and resolution plans

May 2013

Staying on top of hot topics: FTT and CRD IV; Managing intraday liquidity; Europe and the US lag behind others in Basel III implementation; The long road to resolution

Including updates on global systemically important insurers and money market funds

April 2013

Stick to the knitting: systemically important insurers; Wide deviation in supervising MMFs; Clouds still hang over the EU financial system

Including updates on the new UK supervisory structure, AIFMD and CRD IV

April 2013

FSA makes way for ‘twin peaks’ model; Some much-needed clarity provided on AIFMD; Get ready for CRD IV

Including updates on the regulation of non-bank activities and risk management at insurers

March 2013

Beyond traditional banking; Insuring against the low interest rate environment

Including updates on Bankers’ bonuses, the progression of regulatory reforms and MMFs

March 2013

Bankers’ bonuses capped under CRD IV; The progress of financial regulatory reforms; Preparing liquidity standards under CRR; ESRB makes recommendations on MMFs; ESMA recommends EU Code of Conduct for proxy advisor industry

CFPB Mortgage Servicing Standards: Analysis for RESPA (Reg. X) and TILA (Reg, Z) final rules

February 2013

The CFPB released the national servicing standards rules changing the mortgage servicing standards that apply under both the Real Estate Settlement Procedures Act (RESPA, Regulation X) and the Truth in Lending Act (TILA, Regulation Z) on January 17, 2013.

CFPB “Ability-to-Repay” standard

January 2013

The CFPB issued the final “Ability-to-Repay” rule. Lenders have 12 months to implement the new requirements which become effective January 10, 2014. To provide some insights as to the Ability-to-Repay rule, this document from PwC provides a summary of the key provisions of the rule, identify impacts, and offer suggestions on how to adapt to the new rule.

PwC Positioned as a Leader by Gartner for Global Risk Management Consulting Services

December 2014

PwC has been positioned in the leaders quadrant for Global Risk Management Consulting Services report.

Adam Gilbert, JP Morgan Head of Regulatory Policy, to join PwC as Global Regulatory Leader

October 2014

Adam Gilbert, JP Morgan Head of Regulatory Policy, to join PwC as Global Regulatory Leader

Michael Alix, NY Fed SVP, joins PwC as Financial Services Consulting Risk Leader

October 2014

Michael Alix, NY Fed SVP, joins PwC as Financial Services Consulting Risk Leader

Grace Vogel, former FINRA Executive, to join PwC

June 2014

We are pleased to announce that Grace Vogel will join PwC as a senior strategy and policy advisor in our Financial Services Regulatory Practice.

RiskMinds Americas conference

May 2014

PwC is the lead sponsor of the RiskMinds Americas conference being held in Miami, Florida from June 16 - 20th.

Former SEC Commissioner Troy Paredes joins PwC

April 2014

We are pleased to announce that Troy A. Paredes, former SEC Commissioner, has joined PwC as a senior strategy and policy advisor in our Financial Services Regulatory Practice.

FDIC Deputy Director for Complex Financial Institutions joins PwC

February 2014

We are pleased to announce that Mary Patricia Azevedo, recent Deputy Director of the FDIC's Office of Complex Financial Institutions, has joined PwC as a managing director in our Financial Services Regulatory Practice.

FDIC Deputy Director for Complex Financial Institutions joins PwC

February 2014

We are pleased to announce that John F. Simonson, recent Deputy Director of the FDIC's Office of Complex Financial Institutions, has joined PwC as a partner in our Financial Services Regulatory Practice.