Regulatory reporting Flashcards
1
Q
What is regulatory reporting?
A
The submission of raw data needed by regulators to evaluate a banks operations and health. This determines a banks compliance with regulations
2
Q
Name 2 regulators
A
ESma and CFtc
3
Q
What is ESma?
A
the European securities and markets agency
It is an organisation which implements regulations on the EU’s markets infrastructure and central securities deposits.
4
Q
What is CFtc?
A
Commodity futures trade commission
5
Q
Name some Esma regulations
A
recently banned binary options trading for those who are not professionals in order to protect the general public. Leverage was lowered from 100/1 to 30/1 and trading brokers had to advertise what percentage of people lose money to their customers.
6
Q
Give examples of CFtc regulations
A
- Customers money must be segregated
- banks must report to regulators on a daily basis and these reports must match other banks (stops fraud)
- Banks must report when they move more than 25% of a customers and explain why + how it will be maintained
