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B. G., Opalesque Geneva: According to Deloitte, there are six regulatory cross-sector themes of strategic significance for the financial services industry in 2019: supervising implementation of new regulation, Brexit, LIBOR, climate change and sustainability, cyber-security and operations, and value for money.
1. For a start, there is the trend that everyone is well aware of: a shift from implementing new regulation - a global post-crisis reaction - to supervising newly implemented regulation. This supervision includes studying new regulation's unintended consequences and hopefully simplifying them. This is the time for each and every firm to make sure they are completely up to date and regulatory-tidy.
2. Then there's the newsworthy Brexit event. What will the EU do without the City of London? Firms should prepare for the worst - "no deal" - and hope for the best, that is agreements ratified at the eleventh hour.
3. We are witnessing the slow demise of LIBOR - the primary benchmark, along with the Euribor, for short-term interest rates around the world - and the beginning of the end of its reign. Ditto for EONIA (Euro OverNight Index Average) and Euribor (Euro Interbank Offered Rate ). Firms need to prepare for a transition to other benchmark rates.
4. Regulators around the world h...................... To view our full article Click here
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