Frontiers in Finance - Your next move

International Kpmg

Description

Responding strategically to regulatory reform in financial services

Sujets

• Finance
• KPMG
• Régulation
• Stratégies
• Banks
• International

Informations

• Publié par: kpmg
• Publié le: 01 juin 2011
• Nombre de lectures: 374
• Langue: English
• Poids de l'ouvrage: 6 Mo

Extrait

frontiers in finance for decision makers in financial services April 2011 Featuring: setting the pace on the regulatory agenda KPMG’s Financial Services Regulatory Centers of Excellence fatca A looming challenge too big to fail? Recovery and resolution planning in the US Your next move responding strategically to regulatory reform in financial servicesinsights / foreword scott Marcello regional coordinating Partn er We spent much of the last issue of advice and service. To this end, we financial services Americas regionFrontiers in Finance trying to understand have created three regional Financial KPMG in the USthe potential impact of regulatory Services Regulatory Centers of t: [phone] change, the impact of IFRS on Excellence – one each in Asia Pacific, e: [e-mail] insurance contracts and the banking Europe and the Americas – to draw sector and measures to tackle the together our regulatory expertise and critical issue of systemically important focus it on supporting our firms’ clients. simon Gleavefinancial institutions (SIFIs). It will come A note on this initiative kicks off our Joint regional coordinating Partner as no surprise that regulation is once special regulatory feature in this issue, financial services again one of our features. with other articles looking at the Aspac region However, the emphasis is changing. impact of FATCA, insurance regulation, KPMG in China t: [phone]As policymakers and regulators get Solvency II and Basel 3. We also update e: [e-mail] grips with the challenges – and the SIFI debate with a view on recovery dilemmas – of framing new controls and resolution planning in the US. for the global financial system, they The theme for this edition is Your are finding that it’s not as easy as it next move. We explore the key issues Hugh von Bergen Global Head of taxseems. On the other side of the fence, companies need to consider when financial servicesembarking on major change. Debt sales financial services firms are realizing KPMG in the UK and real estate investments are both that regulatory change will not only t: [phone] bring costs and burdens but also asset classes whose attractiveness has e: [e-mail] opportunity. As Jeremy Anderson been fundamentally upset by the crisis; argues in his keynote article, smart we look at how they are faring now. companies are already looking at how I hope you find this issue of to strategically turn the new regulatory Frontiers of value. Wm. David seymour environment to their advantage and Global sector Leader become best in class. investment Management KPMG in the USKPMG firms pride ourselves on t: [phone]bringing clients market-leading analysis, e: [e-mail] Jonathan thompson Global chair Building, construction and r eal estate KPMG in the UK t: [phone] e: [e-mail] alison Halsey Editor, Frontiers in Finance Partner, KPMG in the UK Frontiers in Finance / April 2011 Frontiers in Finance / April 2011 / 45 © 2011 KPMG International. KPMG international is a swiss cooperative. Member firms of the KPMG network of independent firms are affiliated with KPMG international. KPMG international provides no client services. no member firm h as any authority to obligate or bind KPMG international or any other member firm vis-à-vis third parties, nor does KPMG international have any such authority to obligate or bind any member firm. all rights reserved.In this issue For your information fyi… 24 Topics Looking out for opportunities: Uncovering your strategic advantage 4 Seizing opportunities: Current trends in the debt sales market 8 Looking out for opportunities: Real estate as an asset class: Is it core to an investment portfolio? 12 Uncovering your strategic advantage Patchwork: Bank taxes and levies 16 8 Financial Services Regulation feature Setting the pace on the regulatory agenda: KPMG’s Financial Services Regulatory Centers of Excellence 20 Too big to fail? Recovery and resolution planning in the US 24 FATCA: A looming challenge 28 Seizing opportunities: Evolving Insurance Regulation: On the move 32Current trends in the debt sales market Basel 3: Time for banks to engage 36 Keeping ahead of the curve: Solvency II and the new IFRS for insurance contracts 40 20 Insights Updates from KPMG member firms, thought leadership and contacts 44 Setting the pace on the regulatory agenda: KPMG’s Financial Services Regulatory Centers of Excellence 24 36 Too big to fail? Recovery and resolution planning in the US Frontiers in Finance / April 2011 / 1 © 2011 KPMG International. KPMG International is a Swiss cooperative. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved./ For your information fyi... Speculation that the economic downturn would not have occurred had there been more women in the world’s boardrooms has prompted heated discussion about Women at gender balance. Recent evidence suggests that groups with a better the top... gender balance are not only better at decision-making but also more profitable. Research from the consultancy Catalyst found a correlation between those companies with the highest representation of women on their corporate boards and those with higher equity returns. 8 March 2011 marked the 100th anniversary of International Women’s Day – a day when countries around the world celebrated economic, political, and social achievements of women past, present and future. www.internationalwomensday.com Source: www.catalyst.org Bank funding gets put under New insurance standard could the microscope ‘down under’ lead to a change in products Under proposed new accounting Since 2008 Australian banks have found rules, insurance companies may the liabilities side of their balance consider moving out of longer-term sheets coming under unaccustomed products and focusing on offerings scrutiny. How banks fund their lending where policyholders bear more and trading activities is high on the investment risk. agenda of Governments, regulators, That’s the view of CFOs and shareholders and customers. senior finance personnel from the The global financial crisis exposed world’s leading insurance companies, the heavy reliance of Australian banks following a series of high-level on offshore capital markets funding. discussions with accounting firm While this has never been a secret, KPMG. its significance has been overlooked. are being influenced by offshore The dependency on offshore funding, interest rate levels and, potentially, as distinct from domestic deposits, country risk premiums. Note: For the full report please go is a means of transmitting instability www.kpmg.com.au to the Financial Services pages on elsewhere to an otherwise healthy www.kpmg.com banking system. It’s becoming more Source: Australian Centre for Financial Studies and KPMG Monograph apparent that domestic borrowing costs – The Future of Australian Bank Funding, March 2011 2 / Frontiers in Finance / April 2011 © 2011 KPMG International. KPMG International is a Swiss cooperative. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved./ For your information Social media A numbers guide The numbers highlight the impact that social media is having across Funds industry in Ireland the globe. 30bn pieces of content (e.g., links, Ireland is one of the world’s largest professionals specializing in legal, photos, notes) are shared jurisdictions for the establishment and accounting and consulting services, on Facebook each month servicing of internationally distributed Ireland is home to 47 world-class investment funds. fund administration companies and The Irish funds industry offers a 18 trustee/custodians who provide complete range of services including a support structure of over 11,000 53% fund set up, structuring and listing, industry professionals. of American Internet users fund administration, depositary and Ireland boasts one of the most look for information on transfer agency services, compliance, competitive and high quality service Wikipedia, up from 36 percent consultancy, tax, audit and legal environments across all the leading in 2007 services. With an experienced and fund centres. substantial network of industry 50% of US CMOs at Fortune 1,000 companies said they launched a corporate blog Upcoming because ‘it’s the cost of doing business today’ $3.08bn will be spent to advertise on social networking sites in June 19–June 22 2011, a 55 percent increase over 2010 International Insurance Society Conference 200m Fairmont Royal York, Toronto registered accounts on www.iisonline.org Twitter as of January 2011 June 28–June 30 110m Fund Forum International tweets are sent per day on Twitter Grimaldi Forum, Monaco www.icbi-events.com/fundforum Source: www.banking2020.com KPMG 25% discount code: VIP FKN3A47KPMGPDF Frontiers in Finance / April 2011 / 3 © 2011 KPMG International. KPMG International is a Swiss cooperative. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third