Regulatory Outlook: What Lies Ahead for North American FIs
SummaryRegulatory change management has been a constant requirement for many North American financial institutions over the last few years. And it doesn’t look like it’s abating. Rules around financial crime will continue to be a focus given the Anti-Money Laundering Act 2020, as the recent FinCEN leaks call into question the ‘effectiveness’ of financial crime and compliance programs. Meanwhile, data privacy rules across different States are set to mushroom, while new rules around sustainable finance are expected to jump up the regulatory and board agendas in the coming years. Join us on April 29th as we map out what the Regulatory Roadmap will look like over the next three years –and explore what North American financial institutions need to do to beef up their compliance processes and procedures. In this webinar, we’ll examine:
- The 3-year regulatory roadmap of financial crime and compliance rules.
- AML / KYC Financial Crime Compliance – We’ll explore the operational and regulatory expectations around the new Anti-Money Laundering Act 2020, the question of ‘effectiveness’ in financial crime and the move away from ‘tick the box’ compliance culture.
- US Data Privacy Rules – With data privacy laws gathering apace in the US, we’ll focus on the Washington Privacy Act, the New York Privacy Act and the Virginia State Privacy Act, with particular reference to what is new / expected and how they align to existing GDPR / CPRA rules. We’ll also examine the potential operational impact on institutions.
- Sustainable Finance – With the Biden Administration re-signing up to the Paris Agreement, we look at international regulatory developments in this area, focusing on the ten recommendations issued by the Institute of International Finance (IIF) for international regulators and policymakers to support the transition to a sustainable, low carbon economy. The recommendations are aimed at promoting consensus and international alignment in sustainable finance policy and regulation.