Monocle Podcasts

Join us for the Monocle Current Account Podcast where we unpack the full history of the1MDB scandal, how the global financial system enabled it all, and what might possibly be done in the future to prevent such an event from happening again.

We also take a look at what has been making financial and regulatory headlines recently including anti-money laundering and counter-terrorism financing publications from South African regulators, the Ant Group IPO suspension and the newly announced Covid-19 vaccine from Pfizer.

#MonocleCurrentAccount #MoneyLaundering #1MDB

 

 

Headlines:

Prudential Authority AML/CTF Risk Assessment: https://bit.ly/2UnuLBq

Financial Intelligence Centre Consultation Paper: https://bit.ly/2UnuLBq

Ant Group IPO Suspended https://n.pr/3psZ6ge

EU Bad Banks https://on.ft.com/2InY1pF

Pfizer Vaccine https://on.ft.com/38ESN3p

Main Story:

International Consortium of Investigative Journalists Goldman Sachs Article: https://bit.ly/2IDKeL2

Open Ownership Global Company Registry: https://bit.ly/3koQWSF

Welcome to our discussion on the UK Prudential Regulation Authority’s Dear CEO letter regarding the reliability of regulatory returns. Catherine Claxton, Senior Executive at Monocle, explains what a Dear CEO letter is, how banks in the UK need to prepare for the requirements set out in this particular letter and what the digital landscape of regulatory returns may look like.

Reporting, specifically regulatory returns, has become the mechanism to reduce the asymmetric balance of information and insight into a business’s operations and financial performance. Supervisory and regulatory organisations rely on this reporting to monitor and oversee a firm’s performance and stability.

However, unreliability of reporting undermines strong regulatory governance and has become a concern for the Prudential Regulation Authority. In their letter to bank CEOs, the PRA reinforces the importance of data integrity, with a call for banks to submit reports that are complete, timely and accurate.

Listen to our latest Monocle Insights Podcast where Johan du Pisanie, Senior Manager at Monocle, unpacks the impact of the Covid-19 pandemic on banks and their impairments under IFRS 9.

In our latest discussion, Johan takes us through the steps taken by banks and regulators to protect customers and the economy during the pandemic. We explore the impact of the pandemic on banks’ IFRS 9 impairments and the approach banks will take in the future to optimise their IFRS 9 operations.

In our discussion, Celest unpacks the key lessons learned that will help insurers to design and build a fit-for-purpose IFRS 17 solution that meets the technical requirements for compliance whilst creating a stable and long-term data and process architecture.