ICOs: the wild (wild) west?

ICOs: the wild (wild) west?

Bitcoin’s sharp rise in the past year has been accompanied by a surge of Initial Coin Offerings (ICO) popularity —a process by which tokens or digital currencies are issued in return for funding. These unregulated and controversial rounds of funding have started to grab the attention of the media, investors—and regulators—alike.

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Will The Money Market Fund Regulation Help Mitigate Run Risk ?

Will The Money Market Fund Regulation  Help Mitigate Run Risk ?

In the aftermath of the global financial crisis of 2008 the banking sector started to deleverage in order to comply with ever stricter capital and liquidity requirements imposed by the Basel Committee. Benefiting from the shift towards market-based sources of financing, shadow banking intermediaries such as money market funds were subjected to greater scrutiny as their credit intermediation role drastically increased within the global financial system in general and the euro area in particular.

As the classical bank credit contracted, the shadow banking sector acted as a buffer for the real economy by providing companies and governments with an alternative solution to secure short-term financing by spreading their risk exposure. Nonetheless the growing role and concentration of this less regulated sector and its ever-tighter links to the financial system raised some concerns amongst regulators.

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4th AMLD and cryptocurrencies: towards a possible regulation?

4th AMLD and cryptocurrencies: towards a possible regulation?

In less than a decade since Satoshi Nakamoto presented Bitcoin to the world, the introduction of cryptocurrencies in global economy have revolutionized the business ecosystem. 

Today it is a reality that cryptocurrencies caused great disruptions in the financial sector: there is a growing number of entrepreneurs who create ICO campaigns, sell tokens to the public and raise hundreds of millions of dollars.

The use of cryptocurrencies gives to retailers, payment processors, and banks advantages like speed of transactions, traceability, and transparency.

But despite the popularity of this new economic system, since the middle of 2017, there have been renewed government efforts to regulate the market.

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Publications by Initio: Retrospective 2017.

Publications by Initio: Retrospective 2017.

In 2017 the Initio consultants signed 22 articles for our blog but also for other publications like AGEFI.

More than a finger exercise, these articles illustrate the expertise of our consultants and our desire to constantly explore new topics in order to always be aligned of the evolution of the financial sector in Belgium, Switzerland, and Luxembourg and beyond.

Discover all articles published by thematics

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Strategy of regulation or regulatory strategy

Strategy of regulation or regulatory strategy

For many years now, new regulation comes out as a top concern in financial industry surveys. Implementing the vast amount of new regulation proves to be very challenging for all stakeholders, even regulators themselves, in terms of scoping, budgeting and timing. Moreover, the new regulation is truly transforming the context to do business at various levels and it should be top of mind in strategic thinking, business model design, management and day-to-day client servicing and processing. Implementing new regulation is not just about becoming compliant anymore, it is all about anticipating and understanding the transformation the regulation is leading to in order to make the change happen in a value adding and winning way. Regulation are setting the rules of the game and how can you be good at playing the game if you do not understand the rules?

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