Markets in Financial Instruments Directives (MiFID II) will bring about fundamental changes to distribution of wealth and asset management products and services in the EU. Relationships will change, and the winners will be those who adapt their strategies and have the operational capability to respond effectively to the new environment.
MiFID II - Time to take action
FSO Alert: Commission proposes Directive on institutional long-term shareholder engagement
Redesigning the front office
Adapting to the challenges of multiple regulations
Confidence masks challenges for European banks
Banking in emerging markets: Investing for success
FSO Alert: European Parliament endorses MiFID II package
FSO Alert: PRIIPs KID endorsed by European Parliament
FSO Alert: EU to regulate securities financing transactions - Repos, securities lending and rehypothecation
Guiding an industry in transition
Amid significant global regulatory reform, banks and securities firms are faced with numerous challenges and sweeping changes. As they seek to comply with new regulations while meeting the expectations of customers and shareholders for service, transparency and return-on-investment, banks are wrestling questions such as: How should operating models evolve? Where are the greatest opportunities for growth? What is the most effective way to raise and manage capital?
At EY, we have only one question for you: What issues can we help you with today?
Retail Banking – Know Your Customer:
Our third Global Consumer Banking Survey looks at banking through the lens of the customer.
How do customers perceive their banks? What services do they expect their banks to provide? How well do their banks deliver on promises? These questions are at the core of this year’s survey, which includes responses from more than 32,000 retail banking customers across 43 countries.
The survey data reveals eight unique types of consumers, each with its own set of values, attitudes and needs. This segmentation of the survey audience underscores that customer experience is the key to winning, growing and retaining customers in an increasingly competitive banking environment. For more information about our Global Consumer Banking Survey 2014, or for downloading a copy, visit our dedicated web site.
- Banking Foresights & Insights
Our Global Banking Outlook 2014-15 identifies five dynamics remaking the industry and four strategies banks are using to manage the changes.
Financial Services EY Capital Confidence Barometer sees renewed optimism. Growth mandates driven by increased conidence in the global economy will spur M&A activity across mature and emerging markets.
Our fourth European Banking Barometer shows that the outlook for the European banking sector is brighter than it has been at any time in the past two years. Banks anticipate an improved performance over the next six months.
Our seasoned professionals and renowned professors from the Wharton School combine their expertise: Global banking - foresight and insights videos help you get up to speed in minutes on a variety of top-of-mind banking issues.
- CFO Agenda
Our CFO program seeks to provide insight and guidance on aspects of interest to CFOs, and future finance leaders, as they seek to develop themselves, their teams and learn from others within their community.
The Audit Committee Bulletin's summary format helps 'time-poor' directors get a quick glimpse of the hot-topics that audit committees need to be aware of and consider adding to their agenda.
The CFO perspective at a glance: Under cyber attack
Has your company taken the appropriate steps to protect itself from cyber attack? Find out more.
The CFO perspective at a glance: Capital Confidence Barometer Infographic
Building on the highly successful CCB, this report features the views of 376 CFOs on the economy, growth, access to capital, M&A and more.
- Emerging & Rapid Growing Markets
Our look at 10 rapid-growth markets (RGMs) reveals substantial optimism as increasing affluence in under-penetrated banking markets drives demand for more financial products and services.
The European Securities and Markets Authority (ESMA) announced on 7 November the registration of the first four trade repositories under the European Market Infrastructure Regulation.
World Islamic Banking Competitiveness report : Where is Islamic Banking heading globally? According to the new EY report, with an estimated 38 million customers worldwide that is expected to double over next five years, six rapid-growth markets will be the driving forces behind the next big wave.
EMIR : plus d’impact que prévu ? by Denis Costermans and Vincent Galand.
EY Eurozone Forecast – December 2013 - Outlook for financial services: The fragile pace of Eurozone recovery coupled with regulatory pressures is creating a challenging environment and holding back meaningful growth for financial services in 2014.
- Financial & Regulatory Reform
Are you prepare to navigate the regulatory lanscape? Global financial reform is daunting in its breadth and complexity. Read about peer insights and EY viewpoints.
OECD Common Reporting Standard: A global FATCA-like regime. The Organization for Economic Co-operation and Development (OECD) has released a model Competent Authority Agreement (CAA) and Common Reporting Standard (CRS).
A common position on updated rules for market in financial instruments – MiFID II has been agreed. These will apply to banks and investment firms, market operators and entities providing post-trade transparency information in the European Union.
Global Regulatory Reform - A vision for banking transformation is emerging: Our survey found out how European banks are responding to the complex regulatory reform agenda and structural change.
FT Banker Magazine: EY Risk & Regulatory Supplement - ‘Transforming the Bank’.
EY has contributed to a Risk and Regulatory Supplement on banks’ responses to the complex regulatory environment included in the Davos edition of the FT Banker magazine.
International Tax Alert: What you need to know about the final FFI Agreement?
IASB Projects Pocketbook Guide as at 31 December 2013 summarises the key features of the various IASB projects, many of which are joint projects with the US FASB.
The BCBS has substantially firmed up the direction it proposes to take in its effort to reform the capital treatment of the trading book. The Basel Committee fundamental trading book review represents the second consultative document on this topic.
The Foreign Account Tax Compliance (FATCA) will become effective in 2014. It makes substancial changes to information reporting and compliance requierements for offshore accounts. Read about regulatory requirements, interpretation, and implementation approaches.
- Human Capital
In our 2013 Directors’ remuneration survey report, Into the Light, we present a summary of the remuneration trends that emerged in this transitional year in respect of CEO and CFO pay quantum and policy across the FTSE 100, FTSE 250 and for key sectors. We also highlight the key challenges companies will face in 2014.
Global Mobility Effectiveness Survey 2013: Multinationals can seize competitive edge by linking mobility function, talent management EY understands the challenges and opportunities.
- New Net Wealth Model
Circular I. Fort. n°47 dated 14 November 2013 clarifies certain aspects of Net Wealth Tax Reduction that need to be considered as from 2013 onwards.
Reporting Magazine, Issue 6: Cybercrime, groupthink in boardrooms and fraud are some of the top risks facing businesses today. In Reporting Issue 6, we explore how organizations can combat these risks.
IFRS Insights: Your starting point for assessing the impact of changes to the International Financial Reporting Standards (IFRS), the single most important initiative in the accounting and financial reporting world IFRS.
- Retail Banking
Our third Global Consumer Banking Survey looks at banking through the lens of the customer. The survey data reveals eight unique types of consumers, each with its own set of values, attitudes and needs.
Security and risk considerations for your mobile device program: Employers can’t stop the use of mobile devices for work and personal agendas, but they know they need to control it.
Payments industry evolution: Striking the balance : Payments are core to the economy and to banks' products and services. Understand the opportunities, and what the priorities are, particularly for banks.
Mobile payments: Innovation, (r)evolution … by Patrice Fritsch.
Les banques de détail en quête de solutions face à l’émergence du "Smart Commerce" by Gaël Denis.
- Tax Change
EU FTT: the tiny tax with global ramifications. Our survey captures market participants' opinions regarding a number of the proposed tax's features.
EY Tax Guide 2014 now available. A favorite among do-it-yourself filers and tax professionals alike for nearly three decades, the EY Tax Guide 2014 is now available online and in bookstores.
On 7th November 2013, the Luxembourg VAT Authorities issued a Circular (Circular n° 723 ter) confirming that risk management services for funds could be VAT exempt, including sub-contracted services if the criteria defined by the Court of Justice of the European Union are met.
OECD releases G8 report on automatic exchange of financial account information.
Pourquoi faut-il déjà se préparer à la TTF ? La taxe sur les transactions financières n’est pas morte. by Anabela Lourenço Marques and Patrice Fritsch.
Luxembourg: New circular announcing that risk management services rendered to special investment funds are exempt from VAT. by Michel Lambion.
- Technology Enabled Transformation
Under cyber attack EY’s Global Information Security Survey 2013: As technology evolution accelerates, so do cyber risks. Our 2013 survey results describe how companies are addressing current threats and those on the horizon.
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