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News & Commentary
Content tagged with Compliance posted in June 2010
While Awaiting Finance Reform, Evans Bank Automates BSA Compliance
News  |  6/30/2010
Using software to automatically identify suspicious transactions, scan checks at the teller line and improve overall branch efficiency.
Supreme Court Rejects Business Method Patent
News  |  6/29/2010
The Supreme Court on June 28 unanimously rejected a business method patent that would have explained how commodities buyers and sellers in the energy market could hedge against the risk of price changes.
Is BP Too Big To Fail?
News  |  6/25/2010
The concept of "too big to fail" continues to challenge the financial services industry and those who are seeking to change the ways in which the industry is regulated and structured.
How Banks Can Become Too Smart to Fail
News  |  6/23/2010
By David Sherriff, Microgen Global legislative and regulatory pressure continues to grow to prevent banks from becoming too big to fail. One of the potential outcomes is that banks may be forced to split retail banking (safe, low-margin business) from investment banking (high-risk, high-profit business) to create two (at least) legal entities.
How Banks Can Become 'Too Smart to Fail'
News  |  6/17/2010
There are three simple steps large banks can take to avoid being shrunk, according to Microgen's David Sherriff.
Banks Must Go Beyond the 'Compliance-Only' Mind-Set
News  |  6/17/2010
In the efforts to comply with new regulations, there's also opportunity for banks to cut costs and become more efficient, advises Accenture's Chris Thompson.
Banks Ponder the New Normal of Risk Management Post-Financial Reform
News  |  6/17/2010
Regulators are calling for simplicity, but the financial world demands ever-more-complex risk management. 'What's a bank to do?' asks IDC Financial Insights' Dana Wiklund.
Will Regulatory Turmoil Be the Death of IT Innovation?
News  |  6/17/2010
Washington has taken a strong stand on financial reform, and bankers say they understand that. But already-burdened technology organizations will have a hard time keeping up with the flood of changing requirements, and IT innovation may be the first to fall victim.
Why Banks Should Care About Basel III
News  |  6/14/2010
Though the final Basel III rules won't be implemented until late 2012, the Basel Committee's rules do more to cure the ills of the financial system than the finance reform bill Congress is trying to pass by July 4, indicated David Kelly, director of credit products at Quantifi (a vendor of analytics, trading and risk management software) last week at a Quantifi-sponsored event. "It's a very thoughtful, phased approach," he said. In former roles, K
FIS to Acquire Compliance Coach
News  |  6/14/2010
Banking and payment technology provider FIS announced Monday it will acquire Compliance Coach, Inc., a company that provides risk assessment software, e-learning and additional tools to enable compliance with applicable laws and regulations. The transaction is expected within the next 30 days, though terms of the deal were unannounced.
Can 43 Congressmen Agree on Finance Reform?
News  |  6/11/2010
Yesterday, the 43-member House-Senate Conference Committee on financial regulation held its first open meeting in front of C-Span cameras with members giving opening statements. This large group of Democrats and Republicans representing a wide range of interests is responsible for reconciling the House and Senate versions of financial reform legislation. It's a huge task, with each bill running more than 1,500 pages and many differences between the two. Conference committee chair Barney Frank ha
New Law Firm Forms to Defend Banks in Court
News  |  6/3/2010
Here's a sign of the times: fifteen lawyers have formed a new law firm dedicated to defending the financial industry called Murphy & McGonigle (we last heard this name in the W.C. Fields movie The Old Fashioned Way, in which the comedian played The Great McGonigle, head of a troupe of vaudevillians who never pay their bills). The new firm is open for business in New York, Washington, D.C. and Richmond, Va.

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