JWG’s eighth annual conference will be the premier, global event for setting the 2024 RegTech agenda on 7 February in London. Join us to help shape the debate today. About the JWG RegTech agenda Long recognised as the first, biggest and most professional public/private sector agenda debate, JWG is continuing to focus on helping agencies,…

New, exacting BCBS 239 data quality expectations are coming into force just as EMIR Refit and JFSA derivative reporting is put into production 200 days from now. Businesses will be under pressure to deliver lineage for their data or risk fines and reputational damage. JWG’s DRR RegDelta is a RegTech solution that helps companies maintain…

US Regulators fired a $555m shot across Wall Street’s bow last week by holding them accountable for their employees’  pervasive use of unauthorized communication methods, like private texts and in some cases WhatsApp. This is the second batch of ‘market moving’ fines in the US within a year , yet no other country has followed…

The Financial Conduct Authority (FCA) has asked firms to provide granular information to identify investment and execution decision makers more accurately in Markets in Financial Instruments Regulation (MiFIR) transaction reports. The MiFIR reporting regime went live in 2018. The FCA uses MiFIR transaction reports, in part, to conduct market surveillance for market abuse and insider…

The introduction of regulatory frameworks such as SFDR, CSRD, MiFID II, and EU Taxonomy Regulation isn't just a simple compliance task. ESG rules require new systems and data to support best practices for handling this data are still in their formative stages. In great news for RegTech users, international regulators endorsed long-awaited global industry standards…

The outline of Europe’s new payments landscape is in sight. New reforms to enhance competition, innovation, and security in the financial services sector are underway. The Payment Services Directive, financial data access, the digital euro, and protection of cash are among the key proposals released for  discussion last month. Industry experts suggest that further regulatory…

Digital Operational Resilience Act (DORA) technical standards, due to come into force in January 2025 have been released to a quick retort from industry. AFME and EACB warn of missing data, confused risk controls to implement tough new data and reporting requirements. Firms and their suppliers now have a little over 400 working days to…

The global money laundering and terrorist financing watchdog Financial Action Task Force (FATF) has published the targeted update on implementation of its Recommendation 15 (R.15) across 98 surveyed jurisdictions and the results are not pretty. With more inbound rules on our VASP RegRadars, we summarise the implications of these latest findings and what to look…

The Financial Conduct Authority (FCA) opened "around 600" supervisory cases looking at financial crime between April 2022 and March 2023. That represents a threefold increase in its overall proactive work from the previous year and covers roughly 1% of the authorised population (21,500) subject to Money Laundering Regulations (MLR 2017), a FCA spokesperson said. "It…

On June 20, 2023, PJ Di Giammarino, CEO and founder of JWG and Matt Caine, Director of EMEA Financial Markets Communication Compliance at NICE held a discussion on ‘Navigating the Winding Regulatory Road of Communication Compliance’ with a group of Financial Services Compliance and IT experts at the NICE Interactions 2023 conference in London. During…

The European Securities and Markets Authority (ESMA) set out its five-year data strategy aimed at reducing financial services firms' compliance burden and establishing itself as an enhanced data hub. "We want to contribute to reducing the compliance burden for companies and facilitate data reporting by means of increased standardisation and the use of modern IT…

Three new industry awards for JWG

London, UK – 21 June 2023 - JWG, the trusted financial services regulatory intelligence company, is thrilled to announce that for the second year running AI-Publishing has recognized JWG for its global RegTech efforts. “JWG’s tireless dedication to assisting finance professionals across the world to remain compliant with the latest regulation changes, makes them the…

The next five years are shaping up to be the most strategic period of regulatory engagement on industry data since the financial crisis. ESMA’s new 5 year data strategy illuminates a well thought through path to achieving real transparency though technology-enabled data hubs that cover the full scope of current and new capital markets activity.…

The concept of having everyone on the same data page at lower cost and a holistic risk framework has always made sense, but the industry has lacked motivation to execute. With hefty fines being administered and increased regulatory scrutiny, firms are dedicating significant resources to get their trade surveillance models in order. The common domain…

The recent allegations made against Coinbase and Binance by the US Securities and Exchange Commission (SEC) have cast a spotlight on the compliance challenges faced by the cryptocurrency industry. However, it is not just the US that is grappling with regulatory issues pertaining to digital assets – a high degree of correlation has been noted…

Firms should re-engineer their anti-money laundering (AML) systems and controls to refocus on know-your-customer (KYC) processes to prevent the inevitable pile-up of transaction monitoring alerts. Firms' pivot to digital onboarding has prioritised speed over collecting enough information to determine whether transactions are suspicious. It has created an inefficient, expensive process where AML analysts are sifting…

In response to mounting global concerns about generative Artificial Intelligence (AI), legislators and stakeholders have been listening hard to technologists while finalizing tough new rules for digital non-financial risk. Will AI be a wake-up call for firms to define ‘what good looks like’ for infrastructure standards before massive fines start to land? To avoid a…

Consumer trading in unbacked crypto-assets is akin to gambling and should be regulated as such, a committee of influential UK lawmakers said today. Technology underpinning crypto may have some benefits for financial services, but those are unclear, the Treasury Committee's crypto-asset report said. Large parts of the crypto-asset industry remain a "wild west", said Harriett…

Senior managers have 163 days left to get ready for new rules in Ireland which will become effective on the 31st December 2023. In the wake of the pandemic, FinTech and digital assets have become real, the next big round of post-crisis derivatives reforms is in here, trading rules are being rewritten and the regulatory framework…

Over the past three months, regulatory developments in the digital asset space have continued to create choppy waters for industry players and market participants alike. Lawsuits have been filed, new initiatives have been launched, and guidelines are being introduced as governments attempt to keep up with the ever-evolving market. Who would have thought a pop…

The UK Financial Conduct Authority (FCA) will this month publish its Markets in Financial Instruments Directive (MiFID II) trade reporting policy statement for equity trade data. The policy statement will also cover a new designated reporter regime for post-trade transparency, an FCA official told the JWG Trading Compliance RegTech Seminar. Separately, the FCA confirmed in…

JWG scoops another industry award

London, UK – 5 May 2023 –  JWG, the trusted financial services regulatory intelligence company, is thrilled to announce that our global RegTech efforts have once again been recognized, this time by Feedspot, naming us one of the Top 10 global RegTech Blogs. This latest accolade is a testament to our commitment to delivering cutting-edge solutions…

As the deadlines for compliance with new, complex derivatives rules approach, many firms are at risk of facing hefty fines from regulators if they are found wanting. JWG is calling on all firms to join their next global virtual seminar on 29 June to discuss strategies for deploying proven DRR RegTech to manage their regulatory…

Compliance and chatGPT

RegTech promises to turn policy documents to rule sets that describe what good looks like in the operational language of the systems used by the business. AI can play a role in applying controls, but it needs to be carefully supervised so that the humans are in the loop and overseeing the code. Experts at…

Reporting Radars primed for 29 June

Regulators and regulated have come together to improve the current transparency value equation by introducing granular guidance in the form of code. JWG research efforts are pushing forward to explore RegTech reporting opportunities with a global, virtual SupTech and RegTech seminar on 29 June. We are inviting global SMEs to help shape the agenda and…

JWG’s 22 March 2023 Trading Compliance Seminar brought together an all-star cast of over 20 experts who discussed plans for the latest MiFID Review, Market Data changes, CTP, MAR, ESG data demands, MiCA and UK digital asset efforts. These experts did an outstanding job in putting regulatory demands into context and provide delegates with valuable…

Winning the ESG data Marathon in 2023

Winning the ESG data Marathon in 2023 With the ever-increasing focus on ESG transparency from regulators and clients, firms are racing to meet the requirements needed to make their mark in the global marketplace. This race requires tens of thousands of market participants to produce data according to different standards. However, with a proper plan…

Regulators are busy engineering sell-side and buy-side rule changes which will change the markets, customer and risk management obligations starting this year. JWG has analysed the global landscape and assembled 20+ all-stars at our *virtual* Trading Seminar to discuss our exclusive RegTech research on upcoming compliance challenges.  7 days left to get your Complimentary VIP…

UK RegRadar Flash Update

UK Regulators have finally disclosed their plans for 2023 which are 29% bigger than last year with the FCA owning the lion’s share of the 143 initiatives. Practitioners should update their firm’s radars with this version but beware: further updates are expected over the course of 2023. JWG RegRadars are primed and ready. Join us…

New UK Asset Management RegTech Drive

The UK’s second discussion paper of 2023 on the benefit of modern technology presents a great chance for the industry to engage on the future of TradFI and DeFi RegTech standards. Successful reference models can help shape the path for asset management. However, this is an enormous cultural and technical shift which will require broad…

UK crypto-asset regulation should require firms to be authorised locally and establish a physical presence to help asset recovery efforts when customer funds are lost to fraud or theft, lawyers said. HM Treasury's crypto-asset regulation consultation paper, published this month, says crypto-asset activity provided in or to the UK must be authorised by UK authorities.…

Navigating choppy digital asset waters

With new waves of regulation and enforcement coming fast, navigating cryptocurrency and digital assets rules has keeping middle and back offices hands on the tiller this quarter. JWG’s Crypto asset RegRadars are hot and this article provides three dozen links to contextualise choppiest waters in Q12023 in advance of JWG’s 22 March Trading Compliance seminar.…

Trading RegTech all-stars announced

JWG’s sell-side and asset managers’ trading compliance radars are hot, and we’ve assembled and all-star cast to discuss the key trading perimeter, market data, consumer duty and risk surveillance issues on 22 March. Don’t miss this opportunity to dial-in to the debate. Complimentary VIP Pass Available – Apply Now! Register here for 22 March 2023…

Finding RegTech Coalitions 2023

Public and private sectors are finding a path through the jungle of compliance to safe code. New public/private coalitions, new mandates and new ways of working are required. In many ways it feels like 12 years since we started talking about the need for RegTech, it is now more a subset of the Banking Tech…

UK confirms Crypto needs RegTech

The UK Treasury's fired a warning shot across the bow of digital assets businesses yesterday. The proposed regime will be a significant challenge for the current exchanges and digital asset firms who do not have access to institutional-grade RegTech solutions. With so much at stake, it is essential that those affected understand what impact these…

The UK Treasury's consultation on further crypto asset regulation signals a heavy compliance burden for crypto businesses and some vertically integrated firms may be required to restructure to gain authorisation. Crypto businesses operating in the UK must be registered with the Financial Conduct Authority (FCA) and compliant with the Money Laundering Regulation (MLR 2017). Around…

JWG RegTech Beacon 29 published

2023 RegTech Beacon – Guiding your way through regulatory storms  We are delighted to publish the 29th issue of JWG's RegTech Beacon which now serves as our yearbook and recaps 2022 accomplishments as well as providing an outlook of what lies ahead. Our RegTech outlook is one of collaboration between the front office and its supporting…

Trading desks face unprecedented levels of regulatory change from the mechanics of the markets and how they monitor them, to how they interact with customers, the way they de-risk their technology suppliers and provide information to regulators. This article summarises the critical changes and lays out the context for our 22 March virtual trading seminar.…

JWG scoops 5 industry awards for 2022/2023

JWG has won five global awards for its RegDelta platform and website. If you're looking for the broadest regulatory intelligence with the deepest enrichment, within the fastest timeframes, then you need to check out JWG's RegDelta platform. It showcases the latest analysis, highlights relevant products, services, and events so you can create a bespoke library…

Charges will apply for some delayed market data accessed on a terminal or feed as of January 1, 2023, senior banking sources said. The Markets in Financial Instruments Directive ( MiFID II) rules state market data should be free after 15 minutes. That rule has allowed sell- and buy-side financial services to access delayed market…

Many of the financial regulatory reforms announced in Edinburgh on Friday by Jeremy Hunt, Chancellor of the Exchequer, had a familiar ring to them. Banks, investment firms and anyone selling products to or into the UK market will need to engage with the detail of what was published. "The Edinburgh Reforms seize on our Brexit…

Pumping up the DRR volume in 2023

Digital regulatory reporting (DRR) music has upped tempo in 2022: Internationally, the Financial Stability Board (FSB)has become the new home for reporting requirements and is poised to launch its 2023 workplan In the US, the derivatives sector is enjoying the benefits for CFTC rewrite reporting which start next month before deploying DRR code across the…

A top-tier European bank has successfully implemented digital regulatory reporting (DRR) technology to comply with the U.S. Commodity Futures Trading Commission's (CFTC) amended swap data reporting rules, a key milestone in a years-long industry effort to streamline often complex obligations. BNP Paribas yesterday announced it used DRR in a real-world, production-level environment, with a successful…

Join us to set the 2023 RegTech agenda

An all-star cast of 40+ speakers will gather virtually on 9th & 10th November 2022 to set the 2023 RegTech agenda at JWG’s 7th annual premier RegTech conference. Markets have been rocked by turbulence unseen in over a decade and the regulatory agenda has shifted quickly. JWG research has defined 10 panels and worked with the industry to…

RegTech, key to Stablecoin Stability

The regulatory spotlight on stablecoins has intensified this month with the Financial Stability Board (FSB) Crypto-asset paper noting[1] that many existing stablecoins still would not meet their recommendations. International risk management principles will be welcomed, but 2023 will be the year that the industry needs to define a better approach to managing compliance in a…

The European Commission has pushed ahead with digital regulatory reporting — which it views as a central workstream in its overall agenda to make financial services fit for the digital age — while UK regulators have sidelined similar initiatives. The Commission is taking a deliberate approach to testing technology and frameworks for delivering machine-readable and executable…

RegTech for clean controls

Regulators don’t just want firms to read what they put on their websites, they want them to prove their risk and control frameworks do what they say. RegTech now enables firms to interpret their requirements and provide businesses with an opportunity to bring costs down and avoid regulatory actions that can put the business ‘on…

Join our all-star virtual cast 9-10 Nov

We are pleased to announce the first wave of confirmed firms,  regulators, trade associations in JWG’s 7th annual RegTech conference,  ‘Digitally-native compliance’. 2022 regulatory agendas have been rocked by political and market turbulence unseen in recent decades. Don’t miss this opportunity to join this international group of all stars who will articulate the key challenges which RegTech…

Are EU ready for accountability RegTech?

Accountability regimes will force board members and senior management on the Continent to rethink compliance for the Senior Executive Accountability Regime (SEAR) in 2024. The new regime will 'gold plate' current EU law and present international firms with major new hurdles. Irish bankers will be individually accountable for their responsibilities, with fines and even jail…

New policy efforts in by Australian, US, UK, EU and International rule setters will widen the scope of regulatory oversight for financial institutions to include ‘how’ the business runs. As we have seen with US Federal reserve consultation released this week, boards are on the hook for a holistic approach to ensuring their digital infrastructure…

Crypto market capitalization has receded by nearly 75% as $2 trillion were wiped off the market[1] leaving many crypto investors to reflect on the words Warren Buffet: “You only learn who has been swimming naked when the tide goes out”. Rulemaking continued to push the digital-asset agenda forward over the summer with over 3,000 pages published…

Technology contracts in the age of DORA

New UK and EU regulations are forcing banks to demand new controls from their suppliers. Not only do they now need a comprehensive view of how each supplier fits in, but they also need to know how to swap them out. Senior managers across the bank should be working to establish plans now for these…

Think-tank JWG urges Financial Services firms to collaborate with suppliers to close infrastructure gaps as fines loom London, UK – 13 September, 2022 – JWG, the trusted financial services regulatory intelligence company, has announced the publication of a ground-breaking research paper ‘Managing Digital Infrastructure Risk: a collaborative path to financial services safety’. New regulation will fundamentally…

JWG, the trusted financial services regulatory intelligence company, has announced the publication of a ground-breaking research paper ‘Managing Digital Infrastructure Risk: a collaborative path to financial services safety’. New regulation will fundamentally change the landscape for the biggest tech companies--particularly cloud providers. By 2025, overlapping requirements to mitigate operational resilience threats (UK PS6/21,DORA); control third…

Record temperatures are not the only challenge to global infrastructure this summer. New, onerous regulatory infrastructure obligations are warming the landscape for financial institutions and their technology providers. Europe has moved first to establish new operational resilience and cyber rules that will demand new controls from and portability between providers. Europe is moving fast with…

10 Sanctions RegTech priorities

The political process by which sanctions are agreed is difficult but the process for implementing them is worse. As a result, sanctions are not nearly as effective a weapon as we would like to think they could be. Ten RegTech building blocks are on the table for discussion – how do we configure a case…

The UK Treasury has moved to close a loophole in the Money Laundering Regulations (MLR 2017) that potentially allowed crypto asset firms to bypass the UK's registration gateway, according to a government document published on June 15. Previously firms could notify the Financial Conduct Authority (FCA) after a change of ownership occurred. Now crypto asset…

Hack-to-trade schemes and confidential information dealing on the dark web, combined with regulatory warnings about firms' management of material non-public information (MNPI), are raising further concerns about markets' ability to keep a lid on insider dealing and other forms of manipulation. The number of cases brought against individuals using stolen data or MNPI to trade,…

DeFi and the AML car

Criminal networks have eluded Anti Money Laundering and Terrorist Financing (AML/TF) nets for decades. Digital assets have forced policy makers and RegTech providers to rethink the challenge and chart a course towards digitally-native compliance. If the sector engages now, it can reap enormous benefits for digital asset and TradFi compliance. Like a dog that has…

Economic crime: policy simulator 2022

The way we look at economic crime risks and controls is changing. Sanctions and other drivers have forced institutions to take a more holistic view of risk disciplines and integrate process that on-board clients, screen their transactions and monitor the marketplace. This policy space is ideally suited for an idea contributed by a late RegTech…

Economic crime RegTech – countdown!

As sanctions barriers rise and market access is cut off for a digitized market, AML/TF and Surveillance capabilities need to respond quickly with safe and appropriate RegTech.  Join us on 23rd June as 16 market SMEs discuss what this means and what comes next. Register Here In this seminar, leading AML, KYC, Terrorist Financing, Sanctions…

Compliance teams can no longer assume that policies which mandate all communication channels are monitored safely behind the firm's firewall are fit for purpose. Management teams must balance a three legged stool of surveillance policy: generation of alpha in the market, controlling conduct risk, and providing for employees’ wellbeing. In advance of JWG’s 23 June…

Today’s economic crime experts face new regulatory demands to modernize risk frameworks as regulators dish out large fines. RegTech solutions have been proven to help integrate and streamline controls, but only if we align with fast-moving new rules.  How can RegTech help bridge risk silos and create effective compliance solutions in 2022? Register Here This…

Economic Crime & RegTech 2022

2022 is a tipping point for the next generation of economic crime RegTech. Decentralised services are presenting unquantified levels of risk to the system and rules are moving fast to keep up. The good news: after 5 years of laboratory experiments and forests of reports, RegTech can provide a migration path for compliance regimes. In…

AML and TM 2022: ready for action?

Five years since RegTech challenges for Anti Money Laundering (AML) and Transaction Monitoring were first articulated, regulators continue to inch towards policies which would enable firms to cut into the $1.6 trillion[i] which pass through banks undetected. Is the industry ready to take the next step? In this article we recap the challenge for digital…

Culture war topics, the spread of misinformation, and the war in Ukraine have further complicated firms' social media presence and their efforts to craft policies guiding what employees should and should not say online. Firms should reassess policies guiding employees' social media posts on accounts linked to the company and weigh up whether they are…

RegTech & Sanctions 2022

With sanctions freezing assets and restricting trade, digital compliance strategies are being reworked this year. In this article we explore the impact of putting digital trade barriers in place, which will also be discussed at our 23 June virtual seminar. Register Here 2022 sanctions policy Financial services have seen a significant increase in the number…

I listened into a very interesting webinar presented by the UK’s Financial Conduct Authority (FCA) earlier this year about their usage of and experimentation with what all regulators seem to be calling ‘suptech’ these days. Now there was variance on the webinar among FCA speakers around the pronunciation of said moniker—'soup-tech’ was one variant, ‘supp-tech’…

The UK Financial Conduct Authority (FCA) is seeking to improve its market surveillance technology and has tendered for a systems upgrade, a sentiment analysis tool and data sets. It is looking to update and develop the functionality, scope, or capabilities of its existing solution, according to the FCA's procurement portal. The regulator collects trade information…

Rulings by the Belgian and French data privacy authorities (DPAs) emphasise the risk posed by social media monitoring and scraping technology to firms and regulators such as the UK Financial Conduct Authority (FCA) that commonly use such tools for sentiment analysis, as well as to monitor individuals' and organisations' online activity. "The public nature of the personal data available…

REGISTER NOW   Today’s economic crime. Pre-Covid, regulators found that despite a clear correlation between suspicious market behaviour and money laundering/ terrorist financing risk, firms had decoupled these risk functions. These issues remain today but have been made worse by the current political environment which demand wholesale rewriting of AML regimes while putting tough sanctions…

Yesterday, 22 digital asset regulators and market participants gathered virtually across 39 jurisdictions to debate the RegTech challenges presented by digital assets. Tracking this sector’s regulatory obligations is like playing a three dimensional game of chess and small details can make or break markets. In this article we recap where we took away, how you…

The UK's finance ministry yesterday announced its plans to regulate certain stablecoins within existing payments regulation and begin to formulate its regulatory framework for crypto assets. HM Treasury has commissioned the Royal Mint to create a non-fungible token (NFT) this summer to mark the UK's ambition to become a crypto-asset hub. "We see enormous potential…

Digital RegTech – countdown!

The digital assets marketplace is moving fast and this month, regulators have started policy efforts in anger. Join us 5 April as 22 market SMEs discuss what this means and what comes next. REGISTER HERE In the past month, US policy makers have fired the starting gun, The European Parliament has issued a DLT pilot…

The rise of digitally-native compliance

As the digital asset sector matures and policy makers design new rules to oversee this market, compliance has become a strategic battleground for market participants. Regulations that prescribe controls over ‘who trades what’ are being drafted and will include many check boxes for the transaction lifecycle.  The great news is that TradFI has developed RegTech…

Doing Wholesale Digital Finance Right

Distributed Ledger Technology (DLT) holds great promise for Financial Services and is being used to transform some markets.  In advance of JWG’s 5 April Digital Assets virtual Seminar JWG  brought Alex Dorfmann, SIX, Dan Doney, Securrency, Peter Randall, SETL and Tom Zschach, SWIFT together to discuss what digital assets mean for TradFi practitioners, the opportunities…

US Order: Get your RegTech ready

Yesterday, President Biden fired the starting gun for the US regulators' race to control Digital Assets. Crypto enthusiasts have been looking for regulators to take firm positions on whether digital assets race on Formula 1, NASCAR, or Motocross tracks. Regardless, it will be RegTech that is waving the chequered flags very soon. Join an all-star…

5 April: RegTech + Digital Finance

Crypto bros might struggle to see it this way, but digital asset regulation has moved at great pace in a short time. Will it be fit for purpose? With interoperable standards on the way, RegTech has the power to unify digital and TradFi rails. Join an all-star cast on 5 April for our virtual conference…

Surveillance RegTech 2022

The great work-from-home experiment forced traders from the office and digital surveillance teams into overdrive. RegTech can provide a path forward through serious legal obstacles that stand in the way of effective oversight. However, good compliance is not just about the tech and we need collaborative action to make surveillance RegTech fit for purpose. The…

Digital Asset RegTech – OnDemand

This year  we will be producing 3 seminars which will facilitate regulator, firm and supplier collaboration and to develop and encourage interoperability between TradeFi and digital waves.  We are inviting Digital Asset, Crypto and TradFi market participants to join our 2022 Digital Finance Programme which will explore our global research and the role of Digital…

2022 cyber defence upgrades

Global regulators are producing a steady flow of operationally-intensive rules focused on new digital risks in 2022.  Amongst them, cybersecurity is emerging as a top pain point as more persistent attacks threaten banking supply chains. New, deeper and aligned controls are now the order of the day. In this article we summarise the main components…

Digital reporting 2022

With newly minted FS reporting strategies, the EU and UK are focused on enabling the fasteners of digital finance. This article summarizes the 2022 transformation drivers for public and private sectors, and how you can get involved in DRR. 2022 transparency drivers As we discussed in our 2022 Outlook, digital assets are coming into the…

2022 RegTech Outlook

New digital rails are being laid next to traditional finance (TradFi) which puts RegTech in the critical role of integrating markets and defining safety standards. In our inaugural episode of RegCast here we lay out the key themes which peek over the horizon as JWG enters its second decade of RegTech. RegTech meets Digital Finance…

JWG RegTech Beacon 28 published

RegTech Beacon – Guiding your way through global regulatory storms. We are delighted to publish the 28th issue of JWG's RegTech Beacon which now serves as our yearbook that recaps 2021 accomplishments and provides an outlook of what lies ahead. Our focus this year is defining the next steps required for a truly digital financial infrastructure. …

Securities tokenisation permitting firms to settle trades on a blockchain reduces counterparty risk and settlement costs while providing a vehicle for compliance automation. Last year saw some tokenisation of traditional securities such as equities, bonds and foreign exchange; consultants say that 2022 will usher in "tokenisation of everything", be that bonds settled on the Ethereum…

Happy Christmas and Goodbye 2021

We would like to thank you for being part of the JWG community as we published the meeting notes from 2 great workshops this week and get ready to say ‘goodbye, 2021.’ JWG’s 2021 top-line conclusions: The next wave of technology and data-centric regulatory obligations is forcing the market to move to digital controls Obligations are…

2022 RegTech agenda reloaded

1,000 visits to the JWG Annual Conference site are keeping the conversation alive. There is still time to listen to the all-star debate, participate in the debates and help set the 2022 RegTech agenda. 2021 Annual conference On the 16th & 17th November, JWG held its 6th annual and its 1st virtual global conference, where…

A decision that U.S.-based Clearview AI breached the privacy of Australians by scraping their biometric information from the internet and disclosing it through a facial recognition tool highlights risks for regtech companies using web-scraped personal data in commercial software. The decision by the the Office of the Australian Information Commissioner's (OAIC) says emphatically that images…

Operational risk and operational resilience

Executive summary As regulators focus on Operational Resilience firms need to realign their risk frameworks Without this alignment, firms risk overlaps and gaps in their controls Third parties play a key role in aligning controls and service metrics for your board Fines or excessive cost benchmarks are in store for those that get it wrong…

Behavioural monitoring and conduct analytics technology promise to make it easier for firms to detect employee misconduct as well as predict where it might occur next. However, reliance on data- and technology-led solutions may fail to deliver insights and controls, while increasing firms' exposure to data privacy risks and ethical issues. The emergence of surveillance…

100+ Organizations have registered for RegTech 2021   JWG has finalized an all-star cast of  37 speakers from the best and the brightest in our space which will be gather virtually on 16th & 17th November 2021. Don’t miss this opportunity to join international firms, the Bank of England, FCA, global regulators and trade associations and top banks,…

The Bank of England and the Financial Conduct Authority (FCA)-convened Artificial Intelligence Public-Private Forum (AIPPF) this month discussed potential accountability and governance frameworks that could form future guidance for the use of AI in financial services. Senior management accountability as well as the creation of a chief AI officer role were contemplated as oversight options,…

New European Union rules governing artificial intelligence (AI) will put compliance obligations on automated facial recognition (AFR) used in some regtech applications, particularly client risk screening. UK data privacy and biometrics regulators are also seeking to improve employee monitoring and surveillance camera operation guidance to clarify compliance obligations under local data privacy laws. These efforts,…

Regulatory reporting is moving out of the backwater and into the limelight. New RegTech tooling is here and leaders are deploying it now and regulators are defining their SupTech approaches. The regulators and regulated have all made progress and the sector is building momentum in Q4. Register Here Regulatory demands picking up pace Last quarter…

JWG Q421 research reveals major regulatory battles for information on third parties in 2022, which has massive implications for FS suppliers. Combined with Cloud, AI and other new controls, knowing your supply chain just became a lot more critical and complicated.   Without standard supply chain messages, regulators, regulated firms and their suppliers run the…

Executive summary New JWG research finds that whilst quantum presents new business opportunities it also poses big risks to data security Black hats are harvesting data now to monetize in 10 years’ time US’ NIST project has moved first to develop post-quantum crypto standards after determining that in the next twenty years, quantum computers will…

Financial services are digitizing fast but there is much more public and private sectors can do to deliver reporting controls which fulfil supervisory mandates in a digital age. We were pleased to have 50 individuals from global supervisory organizations, financial institutions and firms for the first working session of our new Digital Reporting Taskforce (DRTF)…

 We are delighted to reveal more details for our annual conference. With so much happening in this space – make sure that you know what risks are coming and how to tackle them! See details below and sign up now to hear a great cast of regulators, academia, firms and suppliers discussing the next generation…