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The 2015 challenge: hurdling the KYC bar
02 Mar

The 2015 challenge: hurdling the KYC bar

JWG analysis. With 40+ regulations covering 500+ KYC data requirements due to be implemented over the next 3 years, meeting the requirements poses significant challenges to all firms in the market, not least client outreach, data management and multiple, iterative, implementation dates.  Combined with record fines for AML failures, and new personal liability for senior Read More

16 Jan

The cure for KYC sickness

JWG analysis. 2015 will see a number of new regulatory requirements, long in the proposal or draft stage, crystallise into prescriptions for better customer data management.  At a time when record fines for AML failures and new personal liability for senior managers have intensified the pressure to ‘get KYC right’, these ‘remedies’ pose significant challenges Read More

08 Jan

The Christmas gift …

JWG analysis. While most of us basked in the holiday spirit, the regulatory Grinches were hard at work.  In the two-week period between 19 December and 2 January, regulatory bodies in the UK, EU and US alone published over 40 critical documents. JWG’s tracking revealed a broad range of subjects.  CRD IV/CRR, BRRD, UCITS V, Read More

12 Nov

JWG Q4 2014 data helicopter view

Video: Regulatory reform: 2014 helicopter view.   At our visit to FIMA this month, we summarised our current views of the latest data requirements as covered in our recently published research, ‘G20 FS reform: will you survive or thrive?’ By 2020, the industry could face a regulatory page count that tops three Eiffel Towers high worth Read More

11 Aug

Ready for the ‘summer of 39’ aftermath?

JWG analysis. This summer, regulatory pressure on financial services firms has ratcheted up to unprecedented levels.  Many may have breathed a sigh of relief as Dodd-Frank rule-making slowed … but the respite was only fleeting.  Since July, the industry has been bombarded with 39 new consultation papers (in the EU and UK alone) just as Read More

31 Jul

The never ending question: what is proportional?

JWG analysis. ‘What is proportional?’ is a question that firms may well find themselves pondering in the coming months as they begin implementation planning for MiFID II … and the same question is going to be asked by risk and compliance specialists on a regular basis once MiFID II goes live in 2017. This is Read More

03 Jul

EMIR: gaining control of old errors and new requirements

By Chris Kentouris. EMIR, it’s short for European Market Infrastructure Regulation. It has also become a four-letter word for fund managers struggling to fulfill reporting requirements. About five months after the effective date for fund managers and broker dealers to send details of trades executed on exchange-listed and over-the-counter swap transactions to recognized trade repositories, fund managers are Read More

03 Jun

MiFID II: the 21st Century surveillance system?

As debate rages across the Atlantic today over controlling HFT in Chicago, we’ve been digging into ESMA’s 42 pages on transaction reporting in its MiFID II discussion paper.  See here for more background on the 860 questions that need to be answered by 1 August.  Years after Dodd-Frank upgraded the surveillance capability of the US, Read More

23 May

MiFID II: information warfare unleashed

JWG analysis. The continent was rocked by far more than parliamentary elections on 22 May. Early reports from major financial centres confirm the impact from the 844 pages of text released by ESMA on MiFID II / MIFID to be about a 9 on the Richter scale – so high that ESMA’s website gave up Read More

25 Mar

Regulatory reform – 2014 helicopter review

  • 25th March 2014
  • RegTechFS

Video: Regulatory reform – 2014 helicopter view. Regulation is coming thick and fast.  Seventy thousand pages a year fast! Dealing with this deluge with a page-by-page, regulation-by-regulation approach is becoming impossible as the G20 commitments become spread across many rulebooks.  This means that firms trying to tackle the changes one-by-one will end up with sky-high implementation Read More