Posts Tagged ‘Regulatory Risk and Compliance in Financial Services’

At the core of our business’s successes lie the brilliant minds and unwavering dedication of our workforce—individuals who consistently prioritize delivering industry insights and pioneering digital solutions. Today, we’re spotlighting one exceptional individual: Carl Aridas. As the visionary leader of our Financial Services Risk and Regulatory Center of Excellence (CoE), Aridas personifies excellence and innovation […]

A top-leading bank, grappling with business and regulatory challenges, faced scrutiny after failing the Federal Reserve’s annual stress test. Addressing these deficiencies required a comprehensive approach, leading to the establishment of critical programs like the US Bank Holding Company (BHC) regulatory and comprehensive capital analysis and review (CCAR) program. To bolster its capabilities and ensure […]

Protecting financial institutions from the perils of high-level embezzlement requires a proactive approach rooted in ethical conduct and stringent compliance measures. To fortify defenses against such threats, financial entities must implement proactive measures aimed at ensuring ethical conduct and compliance within their organizations.   This blog outlines five key strategies to safeguard your business and mitigate […]

On December 13, 2023, the Securities and Exchange Commission (SEC) made a landmark decision by voting to adopt significant rule changes mandating central clearing of certain secondary market transactions within the U.S. Treasury market. These transactions include repurchases (repos), reverse repurchases (reverse repos) and U.S. Treasury securities. The rule change, one of the most substantial […]

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector. The NYSDFS Part 500 amendments signal a crucial shift in […]

In discussions with financial services executives, Perficient consultants consistently explore the extension of the submission deadline for resolution plans among certain large financial institutions with assets exceeding $250 billion. Moving forward, these institutions will need to submit their resolution plans by March 31, 2025. Guidance For Institutions This guidance applies to institutions with assets exceeding […]

Our success at Perficient emanates from the dedication of our team. We take immense pride in recognizing that our committed individuals propel innovation and drive change within our industry. Every voice within our organization holds significance, none more so than Carolyn Lee, a Project Manager (PM) in our Financial Services business unit and a leader […]

This post has been updated to reflect FINRA Regulatory Notice 24-02, issued January 23, 2024. The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. For brokers, in the financial services sector, remote work became […]

This blog, the first in a series by Perficient’s Risk and Regulatory Center of Excellence (CoE), provides actionable measures your company can adopt to safeguard against senior-level embezzlement risks and maintain the integrity of your institution’s financial transactions. Background On October 19th, 2023, the Office of the Comptroller of the Currency (OCC) published an article […]

This blog post was co-authored by: Carl Aridas In a recent blog post, Perficient’s Financial Services Risk and Regulatory Center of Excellence (CoE) highlighted the Federal Deposit Insurance Corporation (FDIC) plan to implement a “Robin Hood-like” deposit insurance premium on the nation’s largest banks to recapitalize the agency’s Deposit Insurance Fund. Since that blog was […]

The Consumer Financial Protection Bureau (CFPB) has narrowed its focus on what it terms “junk fees” targeting financial industry practices. Understanding the CFPB’s recurrent theme and deciphering its message from the recent press releases provides insights into potential enforcement actions over the next 12-24 months and how banks can reassess their current fee structures. Failure […]

This blog post was co-authored by: Connor Opalka  Bank Compliance Executives can rest easier at night knowing they receive insights from Perficient’s Financial Services Risk and Regulatory Center of Excellence (CoE).    In this article, we highlight the key emerging industry compliance risks as they were outlined by the Office of the Comptroller of the […]