Insights on AML, outsourcing regulation and Basel IV

ABBL Published 13.12.2019

The fourth ABBL & ALRiM Risk Management Conference took place on 11 December 2019. This popular event was dedicated to the current strategic regulatory subjects of AML, outsourcing regulation and Basel IV.

A large audience, consisting of more than 200 risk managers and other concerned financial professionals, clearly demonstrated that these issues are followed with great interest by the Luxembourg financial community.

The two keynote speakers, Claude Wampach, Director at the CSSF and Gonzalo Gasós, Head of Banking Supervision at the European Banking Federation, shared useful insights on AML and on the implementation of Basel IV in the EU with the audience.

Two panels moderated by Thierry Lopez, ALRiM Board member and by Gilles Pierre, Head of Banking Regulation at the ABBL provided interactive and lively discussions on concrete aspects of outsourcing regulation and Basel IV.

Key takeaways from the various debates were

  • A global level playing field is a recurrent issue when implementing Basel standards
  • Disclosing the output floor will make the standardized approach the main reference for comparing banking groups
  • Luxembourg banks want to make use of the ILM as a reward for their sound management of operational risk
  • Existing exemptions of CVA Risk must be maintained.

To ensure that the above points are brought forward, the ABBL will participate in the consultation phase of the EU Commission on Basel IV and provide data.

Yves Maas, CEO of the ABBL, closed the conference, highlighting the great importance of cooperation between professional organisations, key to shared success for all parties involved, and ultimately for our financial sector.

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By Gilles Pierre, Head of Banking Regulation – ABBL

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