Rupert’s Banking Predictions for 2016

Rupert’s Banking Predictions for 2016

Posted on December 18, 2015 0 Comments

Now that Thanksgiving, Black Friday and Cyber Monday have all been crossed off the calendar, and the Christmas cards have been written, it’s time to look forward into 2016 and have a flutter or two and what challenges our industry will face next year.

    1. At least one Global Systemically Important Bank (G-SIB) will be fined for a late/partial submission for BCBS 239 “pour encourager lets autres.”
    2. Errors will be found with the MiFID II reporting specs published by ESMA, causing implementation delays.
    3. The Commodity Futures Trading Commission (CFTC) will ramp up its Dodd-Frank data analysis processes and fine a number of firms for incorrect submissions (e.g. missing/duplicate data).
    4. Firms submitting XBRL reports for CRD IV and Solvency II will realise how much they are currently spending on manual conversions of XBRL using Excel and armies of consultants to manage the growing number of formats.
    5. Further retail banking payment outages, like the ones suffered by HSBC and RBS in 2015, will occur.

Rupert Brown

Rupert Brown has spent more than 25 years in the Investment Banking sector working for a number of Tier 1 US and European Investment Banks designing and delivering Global Application, Market Data and Infrastructure Solutions.
He has been instrumental in the evolution of the derivatives market platforms in Fixed Income, Equities and Commodities, the transition from host based to distributed and mobile technologies and deciphering the core data requirements of Regulators and Operational Risk managers in the post Crunch era.
He graduated from Imperial College London and is a Senior Member of the Association for Computing Machinery (ACM).


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