World News: 15:55 GMT Friday 15th March 2019. [Wolters Kluwer via Businesswire via SPi World News]
Principal Regulatory Strategist and Senior Advisor Timothy R. Burniston and Barbara Boccia, Senior Director for Advisory Services and Regulatory Relations in Wolters Kluwer’s Compliance Solutions business, will speak at two major banking association conferences this spring. Boccia will lead a session looking at the challenges community bank compliance teams face in an evolving regulatory environment at the Independent Bankers Association of America’s 2019 ICBA LIVE conference, March 18-22 in Nashville.
“The ICBA session will focus on the fact that, despite the buzz about deregulation the last several years, community banks continue to face a very high level of regulatory compliance obligations,” said Boccia. “This reality is reflected in our annual Indicator survey of banks that cite continued and significant concerns in managing risk and compliance challenges. This is no time for a regulatory siesta.”
Additionally, she will serve as a panelist to discuss considerations around bank partnerships with fintech firms at the Consumer Banking Association’s CBA LIVE 2019 conference April 1-3 in Washington, DC.
“Many banks are forming or considering ways to incorporate fintech innovation within their organizations. However, the compliance risks associated with integrating these platforms within the bank can present significant obstacles, so banks must proceed with caution—and an abundance of due diligence,” she noted.
Joining a panel of experts at CBA LIVE, Burniston will offer insights on the effort to modernize the Community Reinvestment Act (CRA) regulations, looking at how feedback from the Office of the Comptroller of the Currency’s Advanced Notice of Proposed Rulemaking (ANPR) issued in 2018 is shaping discussions around reforming the 40-year-old CRA.
“For the first time since 1993, there is a high degree of probability that we will see a major rewrite of parts of the regulations that implement the Community Reinvestment Act,” said Burniston. “The ANPR represented a first step to begin the process to issue a modern CRA regulation that can be uniformly interpreted and applied. Through the next stages of the rulemaking process, perhaps all stakeholders will find common ground that will better align the CRA’s original mandate with a banking industry that has undergone significant transformation in recent years.”
Event details include:
Wolters Kluwer Compliance Solutions, part of the company’s Governance, Risk & Compliance division, is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business helps these financial institutions efficiently manage compliance obligations tied to loan and deposit origination transactions and workflows, manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2018 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
Business Wire: 15:55 GMT Friday 15th March 2019
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