RegTech Search

…commodity derivatives topics. Position reporting MiFID II imposes many key changes that aim to reduce speculative activity and systemic risk in the commodity derivatives market through new position limits and…

…2022, when the CFTC (US Commodity Futures Trading Commission) rewrite became law, and extends to Hong Kong, scheduled to go live in 2025. New reports are required in Japan and…

…to asset-freezing orders or requirements to cooperate with information requests, for example. “Asset recovery needs to be front and centre of the new regulations. Regulators can only regulate what’s under…

…obligations and to test their assumptions and comply accordingly. The Fintech Open Source Foundation (FINOS) hosts the Common Domain Model and oversees its development. Global systemically important banks are positioning…

…date of 11 June. JWG will be working involving the Bank of England, FCA, ECB and other regulators in the discussion. Please contact PJ to participate in the research.  …

…computer uses qubits which enable superposition which allows the computer to perform billions of copies of computation at one time.[1] Additional horsepower makes quantum computers much quicker, sometimes achieving what…

…this is not possible without semantic alignment. Completing the mountain, is ‘Standardisation’; the common artefacts, based on the robo-rules in the shared semantics, an opensource of verified solutions and aligned…

…fidelity, low-cost data and new, digital rulebooks How digital regulatory reporting will lead to the alignment of new granular risk data standards What new cloud and data controls mean to…

…JWG is working with an organising committee to prepare materials for the next session. Please let pj@jwg-it.eu know if you would like to get involved. You can learn more about…

…start to free up your balance sheet and ensure compliance to the regulations? The new frontier in KYC/AML Many of the challenges of KYC/AML implementation are on the global agenda,…

…US (to which organisations may either (a) sign-up and appear on the US Dept of Commerce website as ‘compliant’ or (b) agree to abide by a bilateral contract with an…

…spenders included: Insurance companies: $151 million Securities and investment firms: $100 million Real estate companies: $96 million Commercial banks: $61 million. But Dodd-Frank has been seen as a failure in…

…and lending domains. … View joint activity with JWG My Compliance Centre My Compliance Centre is a compliance management solution for regulated firms. As a single, shared and integrated platform…

…global regulators are already raising the bar to include front-office culture audits which apply behavioural science to new culture and conduct measurement. New JWG research shows the UK has taken…

…to upgrade their approach to integrated risk by 2025 New surveillance capabilities are required along with new common domain-driven standards to align the data which powers it Better solutions will…

…data today just weren’t possible,” Smith said. New technology will permit regulators to be more precise in their use of analytics. New search technologies can pull together disparate data sets…

…firms to implement the technological solutions to enable compliance. For example, to comply with the enhanced disclosure requirements surrounding costs and charges, and to ensure consistency across the business, firms…

…a significant effect on the pricing of the instrument or contract. The guidelines detail examples of information relating directly to commodity derivatives; indirectly to commodity derivatives without a related spot…

…for each regulation and the format for submission is consistent. With regards to a common format for data submission, community initiatives such as the FIRE common data format are breaking…

…agreement settled the dispute between the US and EU that will allow firms operating internationally to comply with one complete set of OTC trading requirements, rather than implementing both Dodd-Frank…

…lifecycle. New requirements mean more and more documentation is required to compile the consolidated view of what your customer wants – and is allowed – to do. Building your new…

…on board 300 industry comments, EU regulators issued a new, comprehensive and granular Guide on effective risk data aggregation and risk reporting. Though the 20 page document was issued 3…

The European Commission proposed on 21 December 2016 to strengthen Europe’s criminal law framework to combat money laundering by drawing on international standards to establish minimum rules for defining criminal…

…net zero. Rathi announced another new initiative, the regulatory nursery, plans for which should appear later this year. “It will create a period of enhanced oversight as those newly authorised…

Libor, Euribor, Tibor, Noribor… Fines of $1.5 billion, £390 million and more expected across the globe …Fallout from benchmark manipulation is not new news, but the way in which we…

…will be no get out of jail free cards. If firms are struggling, they need to notify the competent authorities of their implementation issues to make them aware that –…

…which has been funded by Supplemental Directed Funds (SDF) from BMO and RBC. In this session, PJ Di Giammarino will facilitate a discussion of the opensource regulatory reporting Steering Committee….

…which has been funded by Supplemental Directed Funds (SDF) from BMO and RBC. In this session, PJ Di Giammarino will facilitate a discussion of the opensource regulatory reporting Steering Committee….

…please contact info@jwg-it.eu. You can also keep up to date with GDPR related news on our LinkedIn Group, or follow us on Twitter and subscribe to our newsletter alerts.  …

After conducting over 50 interviews with firms, regulators and their suppliers, JWG has focused FINOS’ regulatory-driven open-source opportunities into 3 broad regulatory buckets: post trade regulatory and market transparency; digital…

…cost transparency is likely to contribute to limited price competition between actively managed funds and asset managers’ ability to control complex costs. Their proposed solution is the introduction of an…

…comprising authors of The REGTECH Book and regtech leaders from the APAC Regtech Network, Australia and Ireland, and a targetted audience of nearly 400 registrants comprising senior representatives from compliance,…

…Plan. When the Action Plan was first announced in September of 2015, the Commission set out to complete 33 tasks, of which 20 have been completed. Most notably: Venture Capital:…

In an increasingly digital sector with divergent rule sets, the ability to manage the global compliance deltas in complex senior management accountability rules is fast becoming a critical differentiator for…

…standards were “Should the EU institutions promote an open source model where libraries of open source solutions are available to developers and innovators to develop new products and services under…

…derivatives; whether they fall within the definition of commodity derivatives under MiFID II, and how ESMA differentiates between these products and exchange traded commodities (ETCs). Securitised derivatives are generally understood…

…to impose tax extraterritorially; B) it infringed the competences of non-participating Member States; C) and it was discriminatory and likely to lead to distortion of competition to the detriment of…

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…

…table and ask how to digitalize the business to grow, as well as remain compliant.” The leading example of achieving some ROI from compliance is in the derivatives space, Di…

Context Are you a senior executive or compliance officer for a financial services firm? If so, then you know that the industry’s regulatory framework is changing fast. MiFID III, the…

…is an enormous amount of change coming out of the new legislative and regulatory publications and the sheer number, scale and complexity of the initiatives due for implementation in 2016…

…smaller banks; they are unable to compete with the larger banks, for example in coping with the new regulatory requirements that have grown from a new standard for financial safety….

…introduced by ESG could provide a path forwards, provided the industry is prepared to agree RegTech standards. JWG has conducted in-depth research with SMEs, regulators and academia on new ways…

…in-depth articles, white papers, surveys, reports and analytics, covering ever changing regulatory obligations and how new technology ensures compliance. Explore RegTech Intelligence RegTech Community  RegTech Communities provide a dedicated, safe…

…the register. Companies House will investigate each discrepancy and if it is valid, they will contact the company to ask for their comments and request that they resolve the discrepancy….

…risk that hasn’t been seen yet,” Campos said. Drag and drop compliance Tokenised compliance should be part of the new securities market infrastructure to deliver the reduction in compliance costs…

…in 2006, JWG has been all about community-driven market intelligence in Financial Services. As a leading market intelligence company, our analysts have been conducting extensive research with regulators, regulated and…

…new consultations on cloud concentration risk, 3rd party risk and operational resilience #JP Morgan, #RegTechCouncil AML: new 5MLD obligations for registries #ICO #FCA #Companies House (research here) Risk and controls:…

…Digital Assets need to rely on a shared application of RegTech. The great news is that TradFi rails are being retooled, and new ones added (e.g., ESG) we are hitting…

…the FCA’s regulation of LC&F focusing on the enormity of the regulatory transformation exercise in progress, the new quest for operational excellence, the drive for new data standards and better…

…The Guardian 30 June 2014 http://www.theguardian.com/money/2014/jun/30/bnp-paribas-fine-break-up-banks-crime [iii] Gina Chon and Tom Braithwaite, US watchdogs reject banks’ ‘living wills’, The Financial Times 5 August 2014 [iv] BBC business news, Lloyds fined…

…next step is to consolidate learnings from ISDA DRR / CDM and ESG CSRD hackathon efforts in a single, deployment-ready opensource regulatory reporting architecture which keeps pace with fast-moving regulatory…

…with a new podcast series called RegCast which you can access here.   So what is RegCast? RegCast is an industry spotlight on the business impact of forces for digital…

…age offers a whole new challenge for regulating conduct, with the LIBOR scandal being communicated over various social media channels. Fortunately, our roundtable attendees were full of ideas. Examples included…

…is free of charge. Watch your inbox for a registration code or contact events@jwg-it.eu if you need help. Registration is now open at regtechconference.co.uk so reserve your seat today.  …

…adoption within the industry. The big question is: why has the ecosystem broken? JWG’s research for the FCA boiled the barriers to good RegTech down to motive, mandate, complexity and…

…from other financial services regulations, notably EMIR and MiFIR. Despite differences in the scope of REMIT – for example, REMIT also covers energy commodity contracts and includes orders to trade,…

…new taxonomy or data model to save billions in compliance projects, why couldn’t it be adopted by the politicians as they create new rules? Why couldn’t we retag the existing…

…may hold the key to peaceful coexistence in this burgeoning new industry. Suptech is the application of new technologies to help regulators improve their oversight, supervisory and enforcement activities. DeFi…

…all designed with the needs of financial institutions in mind. Check it out on www.regdelta.com or contact us on regdelta@jwg-it.eu to learn how we can make it work for you….

…extra mile and enable compliance across regulations and borders in a cost-effective way. The June release of ESMA’s EMIR technical standards will require comprehensive upgrades to firms’ current record keeping…

…next year”, March 16 2016 http://www.complinet.com/global/news/news/article.html?ref=177633 [ii] Danuta Maria Hübner, “EU must shine a light on shadow banking sector”, April 1 2015 https://www.theparliamentmagazine.eu/articles/opinion/eu-must-shine-light-shadow-banking-sector [iii] Committee on Economic and Monetary Affairs,…

…working group [vi] RUSI – Future of Financial Intelligence Sharing (FFIS) [vii] https://www.fintechfutures.com/2022/04/artificial-intelligence-a-winning-strategy-for-payments/ [viii] AUSTRAC – Fintell Alliance [ix] https://www.mas.gov.sg/news/media-releases/2021/mas-and-financial-industry-to-use-new-digital-platform-to-fight-money-laundering [x] Bank of England – Charting the future of Post-Trade;…

…newly opened accounts that passed know-your-customer (KYC) checks. In the United States, some 90% of mule accounts are newly opened and KYC vetted, said Uri Rivner, chief executive at Refine…

RegTech Community Working Group Global Derivatives Digital Regulatory Reporting Programme RSS Feed To join this project contact us Project Files and Events JWG & FINOS RegTech Open-Source focus 2024 Roundtable…

…world’s largest library of global regulatory publications, from 46 countries, in 12 languages. For more background see www.jwg-it.eu and www.regdelta.com Media contacts: PJ Di Giammarino pj@jwg-it.eu +44 208 870 8004…

…same minimum contractual terms will apply to all processors. To be completely compliant, companies must include all eight of these GDPR requirements in all contracts that deal with the processing…

…3. Comprehensive change Think about it, given the breadth of the compliance demands, the argument to give the board a compliance budget is not at all farfetched. Not only is…

…like, firms should have regard to the Basel Committee for Banking Supervision’s Principles for Effective Risk Data Aggregation and Risk Reporting. This document sets out comprehensive, but high-level, principles for…

…a new, tested and de-risked operating model in time for the December code freezes of 2016. Where are we going now, Commander? MiFID II ‘project lead’ is not a job…

…Commissioner’s Office), the UK’s independent body set up to uphold information rights. In the last month alone, GDPR has generated over 11,000 news articles with people searching for information on…

…standards to a new data model. Using the Common Domain Model (CDM), which establishes a common digital representation of trade events and processes, ISDA and REGnosys developed a digital regulatory…

…it’s not just compliance. Compliance I think of as enforcing legal standards. It’s a baseline. What you have here is compliance as a cover for these arguments about the productivity…

…analysis). Angus shares the fundamental ‘step back’ which Bank of England has taken to renew the foundations of information sharing. He describes reforms for common data standards, modernised reporting instructions…

…important challenges including: A rapidly evolving landscape within the industry in terms of new players, new structures and changing economics; An expanding regulatory burden due to the emergence of new…

…and the Digital Landscape’, examined 10 regulatory and compliance challenges that financial institutions face and the types of emerging technology and solutions that are being used to improve compliance effectiveness….

…derivatives reporting changes by the Commodity Futures and Trading Commission (CFTC) have kept teams busy. In Europe, Brexit has also impacted how firms must deal with reporting processes to their…

…2009 regulation were well understood. This year we are tackling a big, global question: How do open RegTech standards change ‘compliance’ as the next waves of regulation arrive? New adoption…

…open outcry and runners are long gone for most markets and the exchange’s trading floors have much fewer people, and far more computers. The great news for Digital assets is…

…the top of everyone’s agenda. Perhaps this is not surprising – given the new disruptive technologies being controlled in a fast-changing, and fiercely competitive market. However, innovation and compliance are…

…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…

In financial services there is a chasm stretching out between key players when it comes to regulation. This chasm comes with a huge risk of plummeting, and what lies at…

…and verification criteria for beneficial ownership information, and new data on staff. Key issues include: Beneficial ownership: What impact will the new FinCEN definition of beneficial owner (BO) and AMLD…

…regulatory transparency is only possible when submissions can be validated against common, standard data dictionaries leveraged by open-source code. Better, digital regulatory reporting provides safer, more transparent markets at lower…

…which will drive JWG’s community and data-fuelled research agenda JWG’s research programme. Our 2021 research programme explored the impact of a democratised market, digital regulatory and new technology and risks…

…complexity of the overlay and interaction of the many regulatory initiatives makes it increasingly difficult to see the bigger picture and adopt common industry solutions. It’s almost impossible for one…

…data 2 months after the WHO declaration of a new pandemic on 13 March we find: Overall noise levels for compliance have more than doubled with 6,346 documents captured already…

…These proposals are “relevant to banks, building societies, PRA-designated investment firms and their qualifying parent undertakings, which for this purpose comprise financial holding companies and mixed financial holding companies, as…

…on regulatory reporting the group examined the feasibility of integrating prudential/statistical ‘top down’ or more aggregated reporting (e.g., CRR 430C, ESG) and ‘bottom up’ or more transactional data collection (e.g.,…

…pages of MiFID II technical standards consultation were issued for comment by 20 March. Less surprising, perhaps, was the open talk of a detailed cost/benefit questionnaire that is on its…

…fluctuations long before the financial sector adopted them), once a requirement shifts from being all-encompassing to “how much?” and “what type?”, it immediately opens the floodgates to lengthy debate. The…

…and stress” of building a change programme up to meeting new regulatory standards, and PCBS set to impose new criminal penalties on bankers for failing in their job, do these…

…Companies will be obliged to reply to complaints, European Data Protection Agencies (DPAs) can refer complaints to the US Department of Commerce and Federal Trade Commission and alternative dispute resolution…