RegTech IntelligenceFinancial 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. With support from top regulators, financial institutions, and vendors JWG is launching a task force to 1) define a future target operating model for the regulatory reporting
A decade ago, JWG worked with Banking Technology to produce the world’s first RegTech magazine for our sector. We are now delighted to be hosting the 6th annual RegTech / SupTech Conference on 16 & 17 November 2021 which promises to be one of the most exciting, digital events of the season. Register Here Today Agenda
JWG summarized regulatory 2021 reporting efforts and explained how there are both prudential/statistical ‘top down’ or more aggregated reporting (e.g., Risk, ESG) with the ‘bottom up’ more transactional data collection (e.g., EMIR, MiFID, CSDR). The RRDS agenda will seek to share lessons learnt across both types of regulatory reporting innovations this year. Though concepts have been proven and studies generally align, without a more concrete description of the future risk information system which extends today’s notion of ‘data’ to include ‘language’ regulatory data efforts will continue to cost tens of billions while failing to achieve their policy objectives.
Business semantics and data requirements are foreign topics, not readily understood by policy makers
Complexity and (largely unnecessary) complication drive Technogenous risk
Regulation must foster system sustainability (e.g., reduce complication and avoidable complexity)
Global dialogue moving too slowly and narrowly vs. the speed and depth of technological progress
JWG summarized regulatory 2021 reporting efforts and explained how there are both prudential/statistical ‘top down’ or more aggregated reporting (e.g., Risk, ESG) with the ‘bottom up’ more transactional data collection (e.g., EMIR, MiFID, CSDR). The RRDS agenda will seek to share lessons learnt across both types of regulatory reporting innovations this year
JWG presentation and facilitation materials for Chatham house rules discussion with Regulators, Financial Institutions, Accademia and the Supply chain covering: 1.Introductions 2.Reporting strategies for 2050 3.EBA Integrated reporting consultation deep dive 4.Path forwards 5.Next steps
The UK Prudential Regulation Authority (PRA) ordered globally systemically important banks (G-SIB) to commission skilled persons reviews of their governance and individual accountability regimes, as well as control and risk management frameworks in its financial year 2020/21. This activity underscores the continuing serious problems that the world’s largest and most-complex banks have had with risk
RegTech Beacon – Guiding your way through global regulatory storms. 2021 is off to a fast start with regulators redoubling their efforts to police a more digitally enabled market. In this Members newsletter we provide an overview of what JWG has been up to and what lies ahead. Topics covered: New themes for RegCast. We summarize our research on emerging global digital regulatory themes and
It has been a very busy 2021 and it is a very noisy financial services regulatory marketplace. JWG is pleased to be helping to contextualise the strategic issues in play with a new podcast series called RegCast which you can access here. So what is RegCast? RegCast is an industry spotlight on the business
It has been nearly four years since the implementation of CRR/CRD IV which cover prudential rules for banks, building societies and investment firms with the main aim of reducing the likelihood that these financial institutions will become insolvent. To an extent, this reflects the Basel III rules on capital measurement and capital standards which is