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RegTech light on FS IT and data risk – Registration open 21 July
Articles
02 Jul
2020

RegTech light on FS IT and data risk – Registration open 21 July

How a firm manages data is now intrinsic to its value, yet the FS risk management framework provides no way to account for IT obsolescence, cloud concentration and data risks on the balance sheet. An explosion of advanced computing capability facilitated by cloud technology has provided massive benefits to both regulated financial institutions and their Read More

17 Jun
2020

UK Prudential Regulation Authority commissioned 11 regulatory reporting skilled persons reviews in last two quarters

The UK’s Prudential Regulation Authority (PRA) has commissioned 11 skilled persons reviews under Section 166 of the Financial Services and Markets Act 2000 into firms’ regulatory reporting in the last two quarters. The PRA commissioned nine prudential s166 reviews of deposit takers in the fourth quarter 2019/20 (December through February), according to publicly available information. Read More

02 Jun
2020

8,496 additional COVID documents to swamp 2020 compliance

FS Compliance officers have been hit with an unprecedented deluge of 3,021 COVID-19 alerts 2 months into the pandemic, which JWG forecasts to be a total of 15,695 documents by year end.   Regulators expect firms to be able to navigate these difficult circumstances while delivering fair outcomes for customers and complying with existing rules. That’s one of the clear messages in these 3,000 plus regulatory updates.  Better RegTech tooling is Read More

27 May
2020

Out of the window: COVID-19 prompts unexpected regulatory change for 2020 compliance, risk management workplans

Firms’ 2020 compliance workplans and risk management strategies have been rendered redundant as the regulatory response to COVID-19 has usurped everyone’s agenda. Regtech companies tracking COVID-19-related regulatory publications say more than 1,300 announcements have been made internationally as regulators roll out pandemic-specific guidelines and relax some rules to help financial institutions manage their businesses. “If Read More

19 May
2020

Regulators’ EMIR derivatives trading, MIFID II transaction data unlikely to be yielding insights required in crisis; Change needed

  • 19th May 2020
  • Rachel Wolcott

Author: Rachel Wolcott, Thomson Reuters The European Market Infrastructure Regulation (EMIR) derivatives trade reports and Markets in Financial Instruments Directive II transaction reports regulators collect is unlikely to be yielding the market insights required to navigate the COVID-19 crisis. The European Securities and Markets Authority (ESMA) 2019/20 annual report and work programme shows EMIR reports’ Read More

18 May
2020

Distributed working tests ad hoc approach to trade surveillance

Author: Rachel Wolcott, Thomson Reuters Firms’ ad hoc and often manual approach to market abuse surveillance may perform less well in the distributed working environment necessitated by the pandemic. Surveillance teams will experience higher alert volumes which may cause a backlog to accrue. Firms lacking automated trade reconstruction tools will struggle to fulfil regulatory queries. Read More

16 Apr
2020

The State of Holistic Trade Surveillance – JWG research published 

By PJ Di Giammarino Over the past few years, financial services firms have been investigating how to improve trade-related surveillance capabilities and techniques. Expectations from regulators and senior management have been placed under the microscope, mainly due to high surveillance noise levels across all communication channels and asset classes. In tracking this evolution of technologies Read More

18 Mar
2020

RegBeacon illuminates the path for JWG’s third decade

By Corrina Stokes  RegBeacon illuminates the path for JWG’s third decade  It is with pride that we publish the first update from our third decade of working collaboratively to enable better, faster, cheaper and safer regulatory change within Financial Services.  It is staggering to step back and look at the breadth of our research agenda. Last year we dove into AML, Read More

11 Feb
2020

Regulators ready for action – are you a Council member yet?

  • 11th February 2020
  • Haley Kain

By PJ Di Giammarino CEO, JWG and Chair, RegTech Council Collaboration between regulator and regulated is required to mitigate IT risks Regulators are calling for an urgent review of global RegTech approaches The RegTech 2.0 Conference provided a clear mandate for the RegTech Council We are inviting the best and brightest to join this effort Read More

21 Jan
2020

RegTech 2.0: Winning in the decade ahead – 7 February

By PJ Di Giammarino, CEO JWG   Key points: In 2019 JWG tracked 204,469 pages with 60 million words on FS regulatory reform 8 RegTech discussions require senior management attention now and will be debated under Chatham house rule with audience Q&A 6+ regulators, 12+ firms and 8 tech SMEs will debate winning strategies and Read More