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Wealth managers will again find themselves dedicating much of 2018 to adopting new compliance requirements. With this comes associated increases in operating costs. However, regtech will make the process more cost-efficient, according to GlobalData Financial Services
In 2018 the wealth management sector will face another wave of regulatory changes that aim to make the industry more transparent and restore consumer confidence. #
In Europe, MiFID II entered into force in January 2018 and the General Data Protection Regulation will be effective from May.
On the other side of the ocean, the US financial services industry is getting ready for the Fiduciary Rule, which is due to enter into force in 2019.
Across the board, as of January 2018 all countries that signed the OECD’s agreement on automatic exchange of information must now be fully compliant with the Common Reporting Standard and report on accounts held by their residents.
Regulation has weighed heavily on wealth managers’ operating costs in the past few years.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/21st-century-learning-and-teaching/?&tag=blockchain
https://www.scoop.it/t/21st-century-learning-and-teaching/?&tag=AI
https://www.scoop.it/t/luxembourg-europe/?&tag=FinTech
https://www.scoop.it/t/luxembourg-europe/?&tag=LHoFT
Wealth managers will again find themselves dedicating much of 2018 to adopting new compliance requirements. With this comes associated increases in operating costs. However, regtech will make the process more cost-efficient, according to GlobalData Financial Services
In 2018 the wealth management sector will face another wave of regulatory changes that aim to make the industry more transparent and restore consumer confidence. #
In Europe, MiFID II entered into force in January 2018 and the General Data Protection Regulation will be effective from May.
On the other side of the ocean, the US financial services industry is getting ready for the Fiduciary Rule, which is due to enter into force in 2019.
Across the board, as of January 2018 all countries that signed the OECD’s agreement on automatic exchange of information must now be fully compliant with the Common Reporting Standard and report on accounts held by their residents.
Regulation has weighed heavily on wealth managers’ operating costs in the past few years.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/21st-century-learning-and-teaching/?&tag=blockchain
https://www.scoop.it/t/21st-century-learning-and-teaching/?&tag=AI
https://www.scoop.it/t/luxembourg-europe/?&tag=FinTech
https://www.scoop.it/t/luxembourg-europe/?&tag=LHoFT