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In today's dynamic financial landscape, regulatory compliance is a necessity for regulated institutions worldwide. Among the myriad compliance challenges, managing risks associated with Politically Exposed Persons (PEPs) and sanctioned individuals demands rigorous scrutiny...
In the complex world of regulatory compliance, ever-changing regulations pose significant challenges for financial services firms. Traditional manual processes are struggling to keep pace with evolving regulations, leading to the rise of RegTech, which uses sophisticated data analytics to streamline compliance, automate processes and enhance regulatory management for financial institutions...
Last month, the FCA launched an investigation into rules around banks and political exposed persons, the UK government accelerated the fight against carbon emission reduction through AI investment, the nightlife sector appealed to insurers for support amid capacity crisis and REG released our enhanced Declarations feature.
The growth of B2B SaaS products over the past decade has been nothing short of remarkable. With the advent of cloud computing, businesses have witnessed a transformative shift in how they procure and utilise software solutions. This shift has been fuelled by the undeniable advantages that B2B SaaS offers: scalability, cost-effectiveness, and accessibility, just to name a few...
Client due diligence tools are software that verifies who a client is, establishes who owns and controls it, and screens those people for sanctions, politically exposed person (PEP) and adverse media risk, with every step recorded for audit. For insurers, MGAs and brokers the client is often another business, so the work centres on ultimate beneficial owners (UBOs), directors and officers rather than one individual's identity. A good tool collects declarations from the client, checks them against independent sources and keeps watching after onboarding. This post sets out what the UK Money Laundering Regulations 2017 expect, what a tool needs to do, how to choose one and how to keep records current.
Money laundering is a pervasive financial crime that poses significant threats to the integrity and stability of the global financial system. Criminals use money laundering to disguise the illicit origins of funds obtained through illegal activities such as drug trafficking, corruption, and terrorism. As a result, stringent AML regulations have been developed to protect the financial services market from being exploited by these criminals...
In today's rapidly evolving business landscape, regulatory compliance has become a significant challenge for financial institutions and other regulated industries. The ever-changing and complex regulatory requirements place a heavy burden on organisations, leading to increased costs, resource allocation, and operational inefficiencies. However, a silver lining appears through the rise of compliance software, which serves as an innovative solution to manage the abundance of regulatory requirements...
Last month, MGAs were revealed to be paving the way for tech adoption, the FCA launched a review into asset managers' liquidity management, brokers were urged to address climate change risks and Geneva hosted the world’s first ever human-robot conference...
Last month, the FCA cracked down on Principal Firms, brokers were seen to be leading the way with Consumer Duty preparation, and with the annual MGAA conference only a few days away, REG sat down with CEO, Michael Keating, to discuss all things MGAA and how the Association is transforming the market for its members. Read these articles and many more, as we bring you all the important news and views from the insurance and financial services world…
With the biggest event in the MGAA calendar only a week away, and REG being the official 2023 App Sponsor, we sat down with Michael Keating, CEO of the Managing General Agent’s Association (MGAA) to discuss all things MGAA and how the Association is evolving the insurance landscape and shaping the market for its members...
With REG's impressive growth over the last few years and recent expansion into new markets, we asked CEO, Paul Tasker, what the company's biggest achievements have been since his appointment, the goals for next year and what the future holds for REG...
In an age where we are leaning more and more towards technology and AI, have we lost the essential human touch needed for business relationships and what can we do to maintain them?
