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Let he who has good data cast the first stone
18 Jul

Let he who has good data cast the first stone

Given the exponential growth of reporting requirements since the crisis, firms often ask: ‘Where does all this data go and who has the time to look through it all?’  In fact, recent statements by regulators have made this question all the more valid given that regulators’ data systems, it is increasingly apparent, often suffer from Read More

09 Jul

Early warning signs: Data protection barriers ahead

Is data protection soon to become the biggest compliance hurdle facing the back office? In an effort to improve the protection offered to consumers, and to harmonise data practices, the EU is currently in the process of passing two pieces of legislation: the Cybercrime Directive and the General Data Protection Regulation (GDPR). Few people have Read More

18 Jun

Risk data aggregation: forming the view from nowhere

Without a consolidated viewpoint on what new risk data requirements mean, firms will be at a loss when it comes to determining best practice. The deadline for firms to upgrade their risk data aggregation capabilities is fast approaching. The Basel Committee for Banking Supervision’s Principles for Risk Data Aggregation and Risk Reporting are due to Read More

15 May

New intraday liquidity reporting requirements will need further alignment?

In April, the BCBS announced that internationally active banks would be required to submit intraday liquidity reports to their regulators on a monthly basis.  In their short paper, ‘Monitoring tools for intraday liquidity management’, they set out several measures of intraday liquidity, scenarios for stress testing and a reporting template.  However, there are several major Read More

10 May

The big bang: What happens when risk and data collide?

The face-off between risk and data is coming.  Lack of co-ordination, both between the regulators setting the rules and within the firms implementing them, is on course to result in a messy collision when the two sets of requirements meet. Commonly, the extent of the damage done by the financial crisis has been blamed on Read More

29 Apr

Newsflash: IT to keep banks from meeting Basel deadlines?

In recent months, the number of high-profile figures championing the BCBS’ Risk Data Aggregation Principles has increased dramatically. Add to those the voice of Forbes’ Tom Groenfeldt, author of a popular column for the magazine on the crossover between technology and finance.  In his most recent article, Groenfeldt identifies some key implementation issues for banks Read More

26 Apr

The LEI: From interim identifiers to a global standard

  • 26th April 2013
  • RegTechFS

Recently, CFTC Commissioner Scott O’Malia issued a blistering condemnation of the lack of data standards within financial services regulation: “the Commission told the industry what information to report, but didn’t specify which language to use. This has become a serious problem…. nobody should be under the illusion that promulgation of the reporting rules will enhance Read More

05 Apr

Into the limelight! Risk data aggregation makes headlines

Until now, awareness of BCBS Principles for Effective Risk Data Aggregation and Risk Reporting has largely been confined to a privileged few.  Thomson Reuters has now achieved first mover advantage in the race to the board room with this conversation with an expose of how regulators and firms are moving at different speeds on this Read More

03 Apr

BCBS gives auditors duty to report non-compliance

On 21st March, the Basel Committee on Banking Supervision released a consultation on its upcoming guidance for the external audit of banks. Auditors have been tarred, along with institutions like credit rating agencies, with having a hand in the poor practices that led to the 2008 financial crisis. The BCBS’ guidance is aimed at distancing Read More