Feedback

HEC-Ecole de gestion de l'Université de Liège
HEC-Ecole de gestion de l'Université de Liège
Mémoire
VIEW 44 | DOWNLOAD 0

Analysis of the current profiling approaches of the major belgian private banks: compliance and evolution aspects

Télécharger
Crouquet, Camille ULiège
Promoteur(s) : Bodson, Laurent ULiège
Date de soutenance : 6-sep-2016/12-sep-2016 • URL permanente : http://hdl.handle.net/2268.2/1915
Détails
Titre : Analysis of the current profiling approaches of the major belgian private banks: compliance and evolution aspects
Titre traduit : [fr] Analyse des approches actuelles de profilage des principales banques privées belges: aspects de conformité et d'évolution
Auteur : Crouquet, Camille ULiège
Date de soutenance  : 6-sep-2016/12-sep-2016
Promoteur(s) : Bodson, Laurent ULiège
Membre(s) du jury : Hübner, Georges ULiège
Plunus, Séverine ULiège
Langue : Anglais
Nombre de pages : 151
Mots-clés : [en] compliance
[en] MiFID
[en] regulation
[en] profiling approaches
[en] evolution
[en] Belgium
[en] private banks
Discipline(s) : Sciences économiques & de gestion > Finance
Public cible : Chercheurs
Professionnels du domaine
Etudiants
Institution(s) : Université de Liège, Liège, Belgique
Diplôme : Master en sciences de gestion, à finalité spécialisée en Banking and Asset Management
Faculté : Mémoires de la HEC-Ecole de gestion de l'Université de Liège

Résumé

[en] In 2004, the European Parliament and Council adopted the Markets in Financial Instruments Directive (MiFID). This directive has a big impact for investment companies, which are now required to profile their clients and acquire several pieces of information about them. Even if the directive has a very noble range of objectives, it suffers from a lot of criticism due to its high margin for interpretation. Each financial institution uses its own profiling approach and its own questionnaire, which can be very distinct from its competitors’. What is the situation in Belgium, and more precisely in the private banking industry, an increasingly important sector? Does the lack of precision of MiFID lead to divergences in the profiling approaches used by the major Belgian private banks? Do those institutions respect the compulsory criteria highlighted by MiFID?

Based on my research in the theoretical part, I established an assessment grid bringing up the compulsory criteria of the legislation and extra criteria, not obligatory but justified by the literature or additional guides. Then, I conducted interviews with the major Belgian private banks and drew up an evaluation of their profiling methods. I also filled out the profiling questionnaire in each institution in order to observe if the risk profiles obtained are equivalent. Finally, in each bank, I acquired some information about the offer of products corresponding to the risk profile obtained, in order to see if there are a lot of divergences between them.

The results of the empirical approach first demonstrated that although improvements still need to be made, the private banks assessed respect on average the legislation of MiFID quite well. However, the majority of the private banks do not go further than what is strictly required by the directive. I also found out that the divergences between the different private banks assessed were sometimes significant, as some of them investigated in depth some criteria that others totally left out. Nevertheless, my findings confirmed that even if the questionnaires are sometimes very divergent they actually led in general to equivalent risk profiles when filled out by the same person. Finally, it came out that the offers of products are quite similar but that the proportion of the different asset classes varies from one bank to another, depending on the limits set up by each institution.


Fichier(s)

Document(s)

File
Access s111854Crouquet2016.pdf
Description:
Taille: 9.94 MB
Format: Adobe PDF

Auteur

  • Crouquet, Camille ULiège Université de Liège > Master sc. gest., fin. spéc. banking & asset (ex 2e master)

Promoteur(s)

Membre(s) du jury

  • Nombre total de vues 44
  • Nombre total de téléchargements 0










Tous les documents disponibles sur MatheO sont protégés par le droit d'auteur et soumis aux règles habituelles de bon usage.
L'Université de Liège ne garantit pas la qualité scientifique de ces travaux d'étudiants ni l'exactitude de l'ensemble des informations qu'ils contiennent.