Recent financial services publications |
| January 2012 | |
| Canada | Dialing in: Convergence, collaboration and customer data – the changing face of Canada’s mobile payments market This report provides strategic insights on the implications of the changing payments ecosystem for each key stakeholder and takes a deeper dive into some of the predictions for the future of the mobile payments industry in Canada. |
| Canada | Dialing in: The future of mobile payments in Canada This paper provides insights on the evolution of mobile payments within Canada, potential operating models, and considerations for how financial institutions and other stakeholders can assess their business needs and develop a sustainable business model to meet an increased demand for mobile payments. |
| USA | 2012 Global Insurance Outlook: Generating growth in a challenging economy takes operational excellence and innovation To succeed in these difficult times, insurers will need to come up with creative strategies to generate growth, achieve operational excellence and drive innovation. While this might be easier said than done, opportunities are available for insurers that can seize the moment. |
| USA | Extraordinary Times for the Insurance Industry: Addressing current business trends and tax implications This report discusses the seven key trends that may have important implications for insurance tax departments in 2012. The way in which each insurance company addresses these trends may impact the success, and in some cases the survival, of the enterprise. The corporate tax function can play a critical role in addressing tax implications. |
| USA | The Risk Committee Resource Guide for Boards This guide is designed to help organizations develop and strengthen their risk committees, and can also help boards improve risk governance and oversight even if there are no plans to establish a formal risk committee. It includes tools and resources that explore topics such as when to form a risk committee; its charter, composition, and responsibilities; and education and evaluation. |
| December 2011 | |
| U.S. Center for Financial Services | Banking and Securities Outlook 2012: A year of resolution and revolution As the U.S. banking and securities industry enters 2012, it faces a number of challenges from “macro” issues that will likely influence, either directly or indirectly, how banks and securities companies will operate in the months ahead. |
| U.S. Center for Financial Services | First Look: A Practical Guide to the Federal Reserve’s Newly Announced Enhanced Prudential Standards Faced with the prospect of combing through 173 pages of new enhanced prudential standards recently announced by the U.S. Federal Reserve, you may find yourself wondering what’s really important to your business today. In this document, we’ve streamlined that process for you, dissecting each section to identify and explain the significant rules and their implications. |
| U.S. Center for Financial Services | Improving Bank Board Governance: The bank board member’s guide to risk management oversight To shed some light on board risk oversight practices, the Deloitte Center for Financial Services conducted a study of 34 bank board risk committee charters, the results of which are presented in this report. The findings identified certain characteristics boards should consider to sharpen their focus and strengthen their risk governance. |
| U.S. Center for Financial Services | Post-Dodd-Frank Act Considerations for Derivatives The net effect of reform on derivative products is that they will likely become commoditized products that may call for increased margin requirements. How can leading broker-dealers look at structural efficiencies and new opportunities to meet increased standards? There are three reports that highlight what potentially lies ahead for the OTC market and the industry. |
| Canada | Retail lending 3.0: How to boost productivity and improve the customer experience The Internet has fundamentally changed the way financial institutions deliver loans. Consumers now expect to connect in real time through whatever channel they prefer – in person, over the Internet, by phone, or through a mobile device - and retail lenders have an opportunity to be on the leading edge of this transformation. |
| Mexico | The Future of Mobile Banking in Latin America: Insights from Argentina, Brazil, Mexico Mobile technology offers an unprecedented growth opportunity for retail banking in Latin America. |
| UK | Deleveraging in the European Financial Sector In addition to the slowing economy and Euro zone crisis, barriers to deleveraging and asset divestment include the pricing gap between a buyer and seller of loan portfolios and resource constraints within certain institutions. The complexity of designing a portfolio that can be traded, recognising the breadth and depth of a bank’s balance sheet also presents a significant barrier to progression. |
| USA | Banking and Securities: Accounting and Financial Reporting Update In response to the financial crisis and challenging business environment, regulators and standard setters have established new accounting and reporting rules for financial service companies, many of which have or will become effective in the near future. This publication will guide you through these changes. |
| Global | Insurance Accounting Newsletter: Issue 23 (Newsletter) Refining divergent positions and a gleam of hope from IFRS 9 planned revisions |
| UK | Insurance Market Update: December issue - life insurers (Newsletter) Solvency II reporting |
| November 2011 | |
| Australia | Australian Mortgage Report 2012: A new normal The Australian mortgage marketplace now totals more than $1.2 trillion of lending to Australian households rivaling the $1.4 trillion superannuation market in both size and significance. However at less than 6% annually and the lowest level of lending growth in more than 20 years, price wars are likely to continue in the short term. |
| Australia | Dynamics of the Australian superannuation system This report explores a range of scenarios that show the comparative growth in superannuation assets by market segment, in the demographic makeup of post and pre-retirement funds, and what longevity means for retirement adequacy. |
| Australia | The future of financial advice: Opportunities and challenges The challenges and opportunities that the Future of Financial Advice (FOFA) reforms bring to Australia will differ between organisations depending on their size and level of preparedness and on each entity’s position in the value chain. It is popular opinion that the vertically integrated providers appear to be in a stronger competitive position as a result of FOFA. |
| UK | Future proofing the UK mutual insurance sector: The need to think strategically There have been seismic changes in the economic and regulatory environment over the last three years. This has had an impact on all parts of the financial services industry in the UK, and the mutual insurance sector has not escaped. |
| UK | Governance in Financial Services: Finding the winning formula In the wake of the financial crisis, robust governance has become one of the highest priorities for both regulators and financial services institutions. Achieving this without creating excessive bureaucracy or stifling innovation is a challenge and finding the right balance could help set a firm apart from the rest. |
| UK | MiFID II: The Deloitte perspective: Implications for capital markets participants The European Commission has released its proposals to amend and extend the Markets in Financial Instrument Directive including the introduction of a new regulation known as MiFID II. Capital markets participants, among others, will be impacted by these amendments. |
| UK | Retail Distribution Review (RDR): Shaking up investment management? This paper explores some of the direct and indirect impacts investment managers will face as a result of the RDR. It also identifies those groups who are either best placed to take advantage of, or likely to be most challenged by, the changing landscape. It concludes with a summary of the operational changes required as a result of the RDR. |
| USA | Fourth Annual Global Fund Administration Survey: Performing under pressure The demands on fund administrators have increased recently as the marketplace evolves, a new regulatory environment takes shape and investors demand more transparency than ever before. This survey of third-party fund administrators from around the world discloses what administrators saw as the key challenges in reaching the new higher standards for fund administration services. |
| USA | IFRS: Keeping Boards and Audit Committees Informed (Updated October 2011) As the IASB and the FASB continue to work on various convergence-related projects, a significant number of countries are applying International Financial Reporting Standards (IFRS) and additional countries are planning to adopt IFRS over the next few years. A decision about the use of IFRS in the United States is expected by the end of 2011. |
| USA | Time for Real Time?: Why banks should be giving real-time processing a serious look Migrating from the decades-old processing technologies and processes to a real-time processing model that completes transactions with no delays can be a game changer. Real time has the power to improve the customer experience, increase back-office efficiency and boost analytics capabilities at a time when real insight is at a premium. |
| USA | Troubled Debt Restructurings: Considerations for Creditors This publication explains the financial reporting implications associated with Troubled Debt Restructurings (TDRs). The focus of this publication is on accounting for TDRs from the perspective of the creditor and discusses how a creditor determines when a restructuring meets the definition of a TDR and the accounting for TDRs by creditors. |
| UK | Insurance Market Update: November issue - non life insurers (Newsletter) Differences in the proposed Phase II financial statement presentation and the impact on general insurance contracts; Key challenges coming up |
| USA | Insurance Accounting Spotlight: Issue 2 (Newsletter) October roundtable and joint meeting highlights summarizes the formal presentation made at Deloitte’s Insurance IFRS Roundtable on the status of the insurance contracts project |
| October 2011 | |
| U.S. Center for Financial Services | Meeting Changing Customer Expectations in Life Insurance: Preparing for the future Analytics can help insurers in their efforts to create a more efficient operating model that is focused on information and incorporates stronger decision making processes, around both customers and efficient operations. This ability should be combined with the discipline and flexibility to adjust interactions and operations in a cost-effective way. |
| U.S. Center for Financial Services | Ninth Annual Fair Value Pricing Survey: Managing risk through time-tested practices Preparedness is a key ingredient to success for asset managers, particularly in these uncertain times. In the years that this survey has been conducted, it has seen mutual fund groups continually make changes, to their valuation policies and procedures in order to address lessons learned from the past and help them prepare for future risks. |
| Luxembourg | Art & Finance: A hub of services for the arts and financial sectors The unprecedented development of the art market over the past few years has resulted in its ‘financialisation’, promoting art not only as an object of pleasure but also as an alternative asset class with interesting business opportunities. In the financial sector, this interest for art has manifested itself through the growth of art advisory, art lending and art investment services. |
| Switzerland | Pricing for the Banking Industry: Unlocking value through pricing excellence The challenge of how to increase profitability has placed the financial services industry under substantial competitive pressure. One way to achieve this goal is to grow revenues in a way which does not require risky acquisitions, branch expansions or staff growth. Price management has significant direct impact on the top line. |
| UK | Conduct Regulation: The changing approach and its impact on firms This white paper from the Centre for Regulatory Strategy explores the key changes in approach to conduct regulation and discusses the impact those changes will have on financial services firms. |
| UK | The people impacts of Solvency II: Is the most valuable asset in your organisation ready? The human resource function is critical to the successful implementation of Solvency II. With experience suggesting more needs to be done to engage and involve HR in the debate, this paper addresses the key people implications of the Directive and provides a number of critical success factors which need to be considered. |
| USA | Analytics in banking: Taking a fresh look at your challenges Banks need more in-depth information to effectively manage risk and drive risk-adjusted performance. Leveraging business analytics may help turn data into information that can answer these questions. |
| USA | Anti-Corruption Practices Survey 2011: Cloudy with a chance of prosecution? Achieving compliance with the Foreign Corrupt Practices Act (FCPA) and similar anti-corruption legislative requirements has become an increasing concern for companies that operate globally. The number of FCPA-related enforcement and the size of penalties have increased dramatically over the last several years. |
| USA | Banking risk and financial integration: What if we treated regulators like clients? Managing regulatory risk is more important than ever for banks. Data integration across silos such as Risk and Finance may be the key to keeping risk in check by giving regulators the same red-carpet treatment top clients receive and in turn achieving competitive differentiation. |
| USA | Customer analytics for banking: Now analytics brings it within reach for banks Customer behavior and preferences are changing at a more rapid clip than at any moment in recent history propelled by changes in technology and the economic environment. |
| USA | Dodd-Frank Swaps Reporting for Large Financial Institutions: A season of change Swaps reporting requirements, part of the Dodd-Frank Act, require financial institutions to make operational and technological changes to meet regulatory standards. Careful planning is essential to prepare for the new regulations as designing, building, and testing of changes will require much lead time to implement. |
| USA | Servicing and Default Management Strategies for First-time Defaulters This paper, one in a series on first-time defaulters, is focused on the servicing and default management strategies that lenders might adopt in servicing first-time defaulters. |
| USA | The Volcker Rule: Banking and investment management M&A catalyst? This article provides an overview of the Volcker Rule, its permitted/prohibited activities, and Deloitte’s observations on potential post-reform banking M&A expectations and opportunities. |
| USA | Trade Risk Management and Controls: Considerations for safeguarding against “rogue trader” incidents As the financial services community began to dissect the origin and reasons for the financial crisis, some observers concluded that one of the reasons was that financial institutions had grown too large, too complex, and too opaque to be effectively regulated. The increased complexity may have made it difficult for even executive management to fully understand the risks. |
| UK | Insurance Market Update: October issue - life insurers (Newsletter) De-mystifying the art of risk modelling |
| USA | Insurance Accounting Spotlight: Inaugural issue (Newsletter) Insurance contracts – A look at the current state of the convergence project |
| September 2011 | |
| Global | Key challenges facing central banks: Adapting to a new era The report highlights the key challenges that are faced by many central banks around the world, including reputational risk, accounting framework challenges and harmonization, valuation challenges, managing currency in circulation, confidentiality versus transparency, governance, risk management and compliance functions and attracting and retaining people. |
| U.S. Center for Financial Services | Evaluating First-Time Defaulters From the Inside Out: Intelligent segmentation helps lenders identify and target new opportunities This report sheds light on the ways financial institutions can use data analytics to identify and retain first-time defaulters in order to build profitable, long-term relationships. By applying a predictive modeling approach, first-time defaulters can be evaluated across the customer development lifecycle. |
| USA | Residential Mortgage Madness: Where do we go from here? The recovery of the residential mortgage market in the US is being challenged, in part, by a vastly changed regulatory and legal environment in which banks, Real Estate Investment Trusts (REITS), and private entities are transacting deals. |
| Luxembourg | Performance: Issue 6 (Newsletter) Regulatory changes and asset management operating models; cross sub-funds investment techniques; Operational taxes and FATCA; International distribution of units in UCITS; UCITS IV; Asset management vs. wealth care; IFRS 13 Fair Value Measurement; AIFMD; Solvency II and service organisation control; corporate accountability in Spain |
| UK | Banking and Capital Markets Insight: September issue (Newsletter) Tax implications of new capital instruments (CoCos); Auditing Practices Board guidance on client money and asset reporting; FCA’s approach to Conduct Regulation; non-Basel IIO aspects of CRD IV |
| UK | Insurance Market Update: September issue - non life insurers (Newsletter) Factors putting pressure on insurers’ capital, making insurance companies re-evaluate their optimal business models and capital structures |
| August 2011 | |
| U.S. Center for Financial Services | First-Time Defaulters: Changes on the horizon? Consumers who have been financially impacted by the credit crisis and subsequent recession are continuing to struggle with lender interactions during the default experience. The first-time defaulters represent a challenge for lenders as they try to find a balance between maintaining good relationships for future profitability and reducing potential credit losses. |
| USA | Rethinking retail banking growth: Effective strategies for increasing revenue by building stronger connections to the post-crisis consumer This article describes a three-step growth strategy: identifying under-exploited revenue and profit sources with growth potential, leveraging analytics to attract and focus on the most profitable customer relationships, and creating agile operations with the capabilities required to serve all customers effectively. |
| Global | Insurance Accounting Newsletter: Issue 22 (Newsletter) The post-Tweedie insurance project: an uncertain horizon |
| July 2011 | |
| Global | IFRS 9 Impairment Survey 2011: The changing landscape: How global banks are responding to the financial crisis accounting reforms As we approach the finalization IFRS 9, which will replace IAS 39 as the financial instrument accounting standard, a picture is emerging of the rules that will come into force over the coming years. This survey, conducted by GFSI, aims to help banking clients better understand the impact of the proposed rules and to raise awareness of the impact of the proposed changes. |
| U.S. Center for Financial Services | Dodd-Frank Act timeline The landmark Dodd-Frank Wall Street Reform and Consumer Protection Act is one of the largest and most complex pieces of legislation in U.S. history. This report shows the interrelations of the Act’s multiple titles and topics with agencies of the federal government, and a summary calendar of comment periods, effective dates and compliance dates. |
| U.S. Center for Financial Services | Looking Back and Looking Forward: The Dodd Frank Act: On the anniversary of the Act – a virtual symposium archive In Roman mythology, Janus is the god with two faces. One face looks back, the other into the future. This 5-hour online event is a series of discussions aimed at furthering the dialog on financial reform’s impact on banks and financial institutions, regulators, customers, and investors. |
| Australia | Australia’s reverse mortgage market reaches $3bn at December 2010 This study, commissioned by the Senior Australians Equity Release Association (SEQUAL), shows at the end of 2010 the reverse mortgage market in Australia consisted of more than 41,000 reverse mortgage facilities with total outstanding funding of $3 billion. This represents 11% growth over the past 12 months. |
| Australia | The Deloitte Australian Technology Report 2011: Elements for success This report discusses how to ‘future proof’ your organisation with a resilient and adaptable IT strategy. It includes a high level review of some of the global ‘tech trends’ and their potential impact on banks. |
| UK | Macro and microprudential supervision: Two sides of the same coin In this point of view, we examine the rise of macroprudential supervision and assess the extent to which it is inextricably linked with the microprudential approach. |
| USA | Current State of Play for Investors and Lenders in the World of Distressed Debt and Assets Things are finally looking up in the world of distressed debt and assets. The credit market is on the mend, liquidity has improved, and there are fewer defaults and more loan sales. The residential side is experiencing a slower recovery, however. Learn more about the current state of play for investors and lenders. |
| USA | Systemically important financial institutions (SIFI): Whether in or out, start preparing now This whitepaper defines Systemically important financial institutions (SIFIs) and examines the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act’s explicit mandate to protect the U.S. financial system from systemic risk. |
| UK | Insurance Market Update: July issue - non life insurers (Newsletter) The motor insurance industry |
| UK | Insurance Market Update: Special edition (Newsletter) Market Consistent Embedded Value: At a turning point |
| June 2011 | |
| Canada | Canadian financial services navigate a changed world: Global risk management survey This report provides a synopsis of the key findings of Deloitte’s recent Global Risk Management Survey as they relate to Canadian financial institutions. |
| USA | Expectations & Market Realities In Real Estate 2011: Balancing risk and return in an era of uncertainty As we look forward to the remainder of 2011 and beyond, we anticipate that despite the many difficulties still ahead, capital markets, and commercial real estate industry, commercial real estate, as an asset class, will continue to receive favorable marks from those investors looking for a less volatile, more transparent dividend component to their portfolio. |
| USA | Insurance Tech Trends 2011: Insights for Insurers on the Natural Convergence of Business and IT This report examines the evolving landscape of technology for business and focuses on topics that will have a larger potential business impact over the next 12 to 18 months. It includes input from clients, analysts, alliances and the U.S. network of academic leaders and subject matter advisors. The trends are listed as disruptive deployments and (re) emerging enablers. |
| Global | Insurance Accounting Newsletter: Issue 21 (Newsletter) Progress continues, divergence remains |
| UK | Banking and Capital Markets Insight: June issue (Newsletter) IASB and the FASB jointly developed Supplement on ‘Financial Instruments: Impairment’; Challenges of completing the Client Money and Assets Return; International efforts to put in place a Financial Transaction; Potential for employee benefit schemes to provide employee remuneration benefits |
| May 2011 | |
| Global | Harnessing the forces of change Financial services companies are facing a multitude of external forces that continue to change the industry and affect individual companies. These forces fall into a set of common themes (compliance, capital, customers, competition) and they are affecting the decisions made in all areas of business, from risk management to product development to operating models and strategy. |
| Global | Tax tactics for the Global Financial Services Industry: Harnessing the forces of change This report looks at key business issues for global financial services institutions and offers thoughts on what institutions should be doing from a tax perspective. It begins with an outlook on the industry and then covers transfer pricing, Basel III, Solvency II, FATCA, global mobility and risk rewards for investment management. |
| Global | The next decade in global wealth among millionaire households Wealth managers will need a strong understanding of which economies present the greatest opportunities for business growth. According to this study, wealth among millionaire households could more than double over the next decade in 25 major economies and it is the developed markets that are expected to remain the global centers of wealth over the next decade. |
| UK | AIFMD: What do you need to know, and how can we help? With the final guidance on the Alternative Investment Funds Managers Directive (AIFMD) expected in November and draft guidelines to be released mid-year, this document is an aid to simplify the key provisions to date and assist Alternative Investment Fund Manager’s to become AIFMD “ready”. |
| USA | Achieving Profitable Growth in Wealth Management: How a close assessment of front and back-office costs can improve scaling efficiency and margins Many wealth managers continue to struggle with profitability and the ability to scale efficiently. Now, amid declining asset prices, some clients are looking to invest in more conservative products which are often less profitable to wealth managers and operating expenses have outpaced top line growth for the past several years. |
| USA | Selection and Oversight of Service Providers to Private Fund Advisers: Establishing a sound plan for success Private fund advisers with limited infrastructure may seek to outsource non-investment functions to service providers so they can focus on core competencies of generating investment returns, managing investment risk, and raising capital. |
| Luxembourg | Performance: Issue 5 (Newsletter) Alternative and long-only asset servicing platforms; Fund administration survey 2010/2011; Liability Driven Investment; Overseas Chinese investment seekers; Global mobility programmes; Service providers to private fund advisers |
| UK | Insurance Market Update: May issue - non life insurers (Newsletter) HM Treasury’s discussion paper entitled ‘A New Approach to Financial Regulation: Building a Stronger System (Cm 8012)’, published in February 2011 |
| April 2011 | |
| Canada | Getting back to growth: How the latest technologies can help drive growth in Canada’s financial services industry Financial services businesses in Canada are renewing their focus on growth. New technologies, such as social media, mobile devices, business analytics and cloud computing, are rapidly gaining momentum and have the potential to drive both short-term revenue growth and a sustainable competitive advantage, but firms must be careful to avoid the pursuit of technology for its own sake. |
| UK | Responding to the Retail Distribution Review: Advisor charging: implications of a commission free world The Retail Distribution Review will take effect in January 2013 and organisations must consider the implications new charging models could have on the industry and their own strategic directions. Fund managers, life insurance companies and investment banks will all be affected. |
| UK | Solvency II Survey 2011: Insurers’ responses to evolving rules This annual Solvency II Survey has been conducted on behalf of Deloitte UK by the Economist Intelligent Unit (EIU), and focuses on insurers” preparations for and attitudes towards Solvency II. Findings suggest reduced confidence in meeting the January 2013 compliance deadline, some companies looking at restructuring or relocating and a shortage of implementation resources. |
| UK | The fourth dimension: Building customer-centric business models in retail banking This Deloitte Research report discusses the difficult choice for bank executives - to build a high-volume/low-cost model or to work to attract and retain the most profitable customer segments. Many are opting to focus on service for high-end customers by improving cross-sales, restructuring bank fees and making greater use of capital-light products. |
| USA | Emerging Managers and Startup Hedge Funds: Will back-office operations make or break you? As new hedge fund launches continue to rise, emerging managers face a number of challenges including fueling fund growth, exceeding investor expectations, and keeping a close eye on back-office operations. It’s these critical back-office operations that can make or break their fledgling business. |
| USA | Financial Reform for Nonfinancial Companies: New regulations may change the way you do business with your financial institution The Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in July 2010, is a sweeping piece of legislation that will lead to changes in how and where financial firms operate. The Act may reshape the economics of some of those businesses, forcing existing providers to reconsider the balance between risk, required regulatory capital, and potential returns. |
| USA | Investment Compliance Monitoring Survey: Staying sharp In recent years, the asset management industry has witnessed increasingly sophisticated investment strategies, heightened regulatory scrutiny, cost pressures, and more complex monitoring requirements from investors. These factors have elevated the importance of an efficient and effective investment compliance monitoring function. |
| USA | Leveraging Analytics in the Banking Industry (Video podcast) Powerful industry trends are putting analytics at the top of the banking agenda. While advances in technology are increasing the amount of data organizations can collect, forces such as regulatory reform, systemic risk and customer analytics are increasing the importance of turning that data into insight — and ultimately better business decisions. |
| USA | Stepping Back from the Corporate Debt Cliff: Potential strategies for the middle market Middle-market companies are standing at the edge of a debt maturity cliff. Record volumes of corporate debt were issued in 2006 and 2007, and $450 billion in mid-market maturities are coming due between now and 2014. This article examines the refinancing challenges and offers strategies to help these companies deal with maturing debt. |
| Global | Insurance Accounting Newsletter: Issue 20 (Newsletter) Project timetable extended by a few months |
| March 2011 | |
| South Africa | Banking review: Seeing beyond 2011: Getting the balance back This review offers a high-level analysis of four key areas that are likely to dominate discussion and activity in 2011 and beyond, including new regulations, the value-driven bank, data management and mobile payments. |
| UK | An in-depth analysis of the current infrastructure funds market: The fork in the road ahead A great deal has changed in the last three years for managers of infrastructure funds. This survey includes the perspectives of 30 leading fund managers across Europe. Apart from the very obvious rapid growth in the number of fund managers in the industry, what else has changed and what does the future hold in this brave new world? |
| USA | A Tale of Two Capital Markets: Critical playbooks for both sides The split between cash-rich businesses and those in need of capital has increased the challenges for small- and medium-sized companies. The combination of economic lethargy in Europe and America, fast-paced growth in emerging markets, and trillions of dollars of corporate debt coming due presents rare opportunities to out-distance competitors and daunting risks for businesses in every industry sector. |
| USA | Basel III: Potential implications for banks and banking In September 2010, international banking regulators reached a broad agreement towards minimum capital and liquidity standards referred to as Basel III. This paper discusses how will U.S. financial institutions will be affected and the challenges that they may face. |
| USA | Financial Reform Insights: The changing landscape for credit and debit card payments With the CARD Act and the Durbin amendment, regulators have raised their expectations of the payment industry. While regulators are still ironing out details, many companies are unclear as to how they’re going to respond but acknowledge that an approach for something “practical, with flexibility to accommodate ongoing uncertainty and enable product strategy” is needed. |
| USA | The Hidden Costs of U.S. Health Care for Consumers This study found that U.S. consumers spent 14.7 percent more for health care goods and services in 2009 than is captured in official government accounts. Learn more about what the study reveals about this substantial and increasing burden in the average household. |
| Global | Insurance Accounting Newsletter: Issue 19 (Newsletter) “Unsuccessful efforts” split the Boards |
| Australia | Property Intellectual: Issue 43 (Newsletter) Changes to lease accounting - did others share your view? |
| UK | Banking and Capital Markets Insight: March issue (Newsletter) FSA Retail Distribution Review (RDR); European System of Financial Supervision; IASB’s Exposure Draft on hedge accounting ; The combination of the FSA Remuneration Code and the new UK tax legislation on “Disguised Remuneration” and challenges to remuneration planning |
| UK | Insurance Market Update: March issue - non life insurers (Newsletter) Safeguarding of sensitive data: Information leakage and data security |
| February 2011 | |
| Deloitte Research | Cell me the Money: Unlocking the value in the mobile payment ecosystem This study from Deloitte Research examines the challenges and benefits of mobile commerce in the U.S. It sheds light on the barriers that have traditionally challenged the mobile payment market in the U.S. Companies that want to get ahead of the curve will need to develop mutually beneficial business models and take advantage of further innovations. |
| Global | Global Risk Management Survey, Seventh Edition: Navigating in a changed world This publication assesses the state of risk management as we emerge from an extraordinarily unsettled period. The survey was conducted during the third quarter of 2010, and its results are based on the responses of 131 financial institutions from around the world, including retail and commercial banks, insurance companies, and asset managers with aggregate total assets of more than $17 trillion. |
| UK | Setting up in the City: A brief guide to establishing a financial services business in the UK In response to the growing demand from overseas financial services firms looking to set up operations in the UK, Deloitte, in association with UK Trade & Investment and The City UK, has launched a brief guide which covers UK regulatory requirements, including FSA authorisations, structuring options, tax implications, personnel and immigration, and real estate. |
| USA | Driving Operational Excellence in Claims Management: Five key areas for operational improvements Property & Casualty (P&C) insurers face many challenges including dwindling pricing power, erratic investment yields, and economic uncertainty. 2010 was the second consecutive year in which the industry suffered underwriting losses in the first half of the year. Learn how insurers can drive long-term, profitable growth and increased returns. |
| USA | First-Time Defaulters: An underappreciated customer segment for lenders? The U.S. Center for Financial Services presents this first in a series of reports examining the first-time defaulter segment and helping to identify both innovative and effective approaches that financial institutions may want to consider. |
| USA | Insurance Industry Outlook: High hurdles loom in 2011 and beyond Insurance carriers face fundamental threats to their ability to achieve top- and bottom-line growth through operational enhancements, distribution solutions and technical upgrades, but they also have some strategic options and support tools to improve their chances not just to survive, but to prosper. |
| USA | Lease Accounting Survey: How prepared is your organization to cope with these new standards? Just seven percent of executives felt their companies were well prepared to comply with the new lease accounting standards proposed by the FASB, which are set to be finalized as soon as June. To comply, lessees (and possibly lessors) would have to change how they account for leasing transactions (both real estate and equipment), and provide more extensive disclosures. |
| USA | Look Before You Leap: Managing risk in global investments As North American companies continue to explore growth opportunities abroad, most notably in emerging markets, compliance and integrity risks appear to be rising sharply. This report discusses some of the key compliance issues facing North American companies as they seek to increase their footprint abroad, and offers guidelines that might help foster the compliance process. |
| USA | Payments Outlook 2011 The payments industry potentially faces a period of change and the pace and breadth of these possible changes may be significant. This outlook highlights several trends that are affecting the market today and are beginning to define the payments industry of the future. |
| Global | Insurance Accounting Newsletter: Issue 18 (Newsletter) Gearing up for the last mile |
| Australia | Property Intellectual: Issue 41 (Newsletter) Investment Property @ fair value – IAS 12 amendments |
| Australia | Property Intellectual: Issue 42 (Newsletter) Tax breaks for green buildings |
| UK | Banking and Capital Markets Insight: February issue (Newsletter) The significant, and imminent, proposals for regulatory change for banks and investment firms; the developments in the treatment of bank payroll taxes; The code of practice for bank taxation |
| UK | Insurance Market Update: February issue - Life insurers (Newsletter) Target Operating Models (TOMs): drivers, benefits, content, architecture, implementation |
| January 2011 | |
| Global | AIFM Directive: Crossing the finish line Following an arduous 18 months working its way through the European legislative process, the journey of the Alternative Investment Fund Managers Directive (the “Directive”) is nearing a conclusion. In November 2010 the European Parliament approved the agreed text and the final and official publication is expected in early 2011. |
| Australia | Caring for Older Australians: A step in the right direction The Australian government’s Productivity Commission (PC) draft report is acknowledges that the current aged care system is seen as complex, unsustainable and inequitable. The PC agrees that Australia’s aged care system is in need of fundamental reform. Deloitte, in conjunction with the Aged Care Association of Australia, prepared a detailed submission on behalf of industry. |
| Australia | The Deloitte Australian Mortgage Report 2011: Reforming the Agenda This annual report reveals that despite mortgage lending continuing to slow in 2010, growth in mortgage settlements is expected to be between 5-10%, with funding continuing to recover as new options for competition are explored. Covered bonds and bullet RMBS will ensure a price effective option for banks of all sizes to deliver better mortgage pricing to consumers. |
| Australia | The J.P Morgan Deloitte 2010 General Insurance Industry Survey In this 18th edition of the annual J.P. Morgan Deloitte General Insurance Survey, the key trends seen in 2010 include rate increases which have helped restore combined ratios and mixed reactions in premium rates, claims affected adversely by above average natural peril activity and increased capacity in the Australian market. |
| UK | AIFMD technical summary: An overview The AIFMD sets out the rules for authorisation, ongoing operation and transparency of alternative investment fund managers (AIFMs), managing and/or marketing alternative investment funds in the EU, in order that new “competent authorities” to be created in each member state and empowered by law/regulation to supervise AIFMs can monitor and manage systematic risk. |
| UK | Cracking the Code: Regulations on remuneration The scope of UK remuneration regulations is extending. From January 2011 over 2500 FSA-authorised firms fall within the scope of the FSA Remuneration Code, which has been amended following the adoption of CRD3. |
| UK | Real Estate Executive Report: January 2011: Real innovation The real estate sector is certain to emerge from the turmoil of the last three years by being more creative and innovative in the way investors use property. It is no longer an asset to be held and traded on the assumption that prices will continue to rise – owners have to be smart and make their property work for them. |
| USA | Mobile Banking: A catalyst for improving bank performance As banks develop their strategies for giving customers access to their accounts through mobile devices, they should regard this emerging platform as a catalyst for generating operational efficiencies, as a vehicle for new revenue sources and as a way to regain some of the trust that was lost during the financial crisis. |
| USA | The Pursuit of Predictability: Using bits and bytes to prevent bank failures There is a growing consensus among the regulators and the regulated that intelligent analytics are needed to monitor risk in today’s increasingly complex and volatile financial landscape. This paper lays out the steps and disciplines necessary to develop an enterprise-wide analytics program and provides practical insight into what should precede investment into analytics. |
| Australia | Property Intellectual: Issue 40 (Newsletter) Revenue recognition – current state of play |
| India | Financial Services Industry Tax and Regulatory updates: Inaugural issue (Newsletter) Key judicial and regulatory developments in the financial services industry |
| Luxembourg | Performance: Issue 4 (Newsletter) Marketing financial products for client protection and harmonisation; private equity in China; Art as an asset class; Indian Direct Tax Code; PRIPs and retail; EIB’s Mediterranean Solar Plan; Dodd-Frank for EU money managers; UCITS IV; Eurozone government bonds; AIFM Directive; Basel III reform; Solvency II challenges for asset management; FIN 48; FATCA |
| UK | Banking and Capital Markets Insight: January issue (Newsletter) Technical issues coming from banking, capital markets, securities and fund management |
| UK | Insurance Market Update: January issue - non life insurers (Newsletter) Solvency II and the third line of defence, internal audit |
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