The FinCEN Files – Our Perspective

New Link Editor Anti-Financial Crime, Thinking

Over 2,100 Suspicious Activity Reports (‘SARs’) that were filed with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) between 2011 and 2017, have been leaked to BuzzFeed News and investigated by a team of reporters from the International Consortium of Investigative Journalists (‘ICIJ’). There has been no question regarding the authenticity of the documents. The ICIJ is drip-feeding the results …

Assessing the Effectiveness of a Compliance Function

New Link Editor Regulation, Thinking

Whilst many firms may think that their Compliance arrangements are purring along just nicely thank-you-very-much, there are not many who can say – never mind actually evidence – that their Compliance function is doing everything just right. Compliance departments, in this very changeable world, are not immune to the need to grow, develop, and improve. Senior management will want to …

Transforming CLM Operations

New Link Editor Anti-Financial Crime, Anti-Financial Crime, Thinking

Whilst most of the Client Lifecycle Management (CLM) commentary out there touts technology, automation, robotics and artificial intelligence as the answer to all of your CLM and client on-boarding challenges, New Link Consulting takes the view that many firms should be spending their time fixing some of the more fundamental challenges of CLM before investing in the newest, shiny thing. …

IWD 2020: Strength Through Diversity

New Link Editor Diversity, News, Thinking, Topics

International Women’s Day celebrates the social, economic, cultural and political achievements of women. The day also marks a call to action for accelerating women’s equality. New Link Consulting holds the values of gender equality and diversity as a central part of the fabric of our organization. We consider it a crucial aspect of our culture and success. In recent years, …

What is SFTR?

New Link Editor Middle Office, Regulation, Securities Finance, SFTR, Thinking

Following the financial crisis, both securities lending and repurchase transactions came under increased scrutiny as they were perceived to have contributed to the build-up of hidden leverage in the market. Regulators sought to introduce Securities Financing Transaction Regulation (SFTR), covering three key requirements: transaction reporting, disclosure obligations and collateral reuse obligations. SFTR is a sweeping mandatory change for the securities …

Another Nudge for Benchmark Reform…

New Link Editor Front Office, LIBOR, Thinking

IBOR transition in Europe has taken another step forward. On Monday, May 6th, the European Money Markets Institute (EMMI), which is the administrator of both the EONIA and EURIBOR benchmarks, applied to the Belgian Financial Services and Markets Authority (FSMA) for authorisation to compute & publish “reformed” Euribor. EONIA and EURIBOR are two of the main euro-denominated measures of money …

Benchmark Transition is Coming…a Brief Guide for Corporate Treasurers

New Link Editor Front Office, Thinking

1.  A Little Context Within the next two and a half years, global financial markets will see lasting changes made to some of their oldest interest rate benchmarks. These benchmarks will be either retired or reformed, replaced either by a series of nearly risk-free rates (RFRs), or reformed benchmarks. We are of course talking about Inter-Bank Offered Rates (IBORs), the most common of …