RegTech Search

…the information firms have to declare on “effective” supervision. For a brief summary of the main changes to the technical standards see our LinkedIn discussion in the MiFID II Group….

…it is required that the home supervisor in the case of cross-border activity has issued a notification under Article 31 of MiFID or, in the case of the exercise of…

…makes sense to incorporate tax transparency into the 4th Money Laundering Directive. It deals in similar areas, i.e. collection of exchange of information, supervisory reporting and transaction monitoring. While the…

…its supervision manual (SUP) to reflect the change under MiFID II that all Member States must now have tied agent regimes. For firms, these changes mean very little unless the…

…are needed from regulatory, supervisory and law enforcement authorities as banks need approval before investing in such services. As well as respondents providing their views on why RegTech has not…

…grey area. Because Bitcoin and other virtual currency systems have many commonalities with more traditional payment systems, they do logically fall under existing supervisory regimes. But due to its relatively…

…rating of 1 or 2 (CAMELS is a supervisory rating system that classifies a bank’s overall condition by assessing it on various qualities such as capital adequacy and liquidity.) A…

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…fodder for debates at the upcoming G20 meeting, but especially for the debate raging in Europe over the single rule book and supervisory mechanism. The ball is now in Michel…

…European Supervisory Authorities which requested feedback from stakeholders and this final report represents such feedback. While the guidelines were initially intended to be produced by a joint committee of the…

…its recent decision to ignore industry concern and push ahead with LEI adoption deadlines of 31 March for some and 31 December 2014 for all institutions under their supervisory remit:…

…an effective resolution process on a cross-border basis. Risk In the Eurozone, the ECB this week have laid down their five priorities for the supervision of significant banks in 2016,…

…of view. We have seen a big burst of interest in supervisory technology.” Add SupTech to RegTech “ISDA and REGnosys developed a digital regulatory reporting pilot for the derivatives reporting…

…must be sure to balance enhanced capabilities with adequate controls and appropriate responsibilities. On this point, the European Supervisory Authorities, in their ‘Opinion on the use of Innovative Solutions by…

…of this year. With the European Supervisory Authority’s Joint Committee guidance expected on the wire transfer and e-money directive in the EU in quarters three and four, as well as…

…a European-wide regulatory framework for financial markets, MiFID II will increase investor protection, boost competition across financial markets, and introduce reinforced supervisory powers. Since the implementation of MiFID I in…

…repositories is Europe. The penalty was for failing to implement systems capable of providing regulators with direct and immediate access to derivatives trading data. ESMA has been supervising trade repositories…

…distribution of information, which will help regulators in their supervisory efforts. Is DLT worth the effort? The initial efforts and costs would be significant and it is important to weigh…

…over large non-bank financial companies. More specifically, the Dodd-Frank Act implements changes that, among other things … affect the oversight and supervision of financial institutions provided for a new resolution…

…FCA has published Policy Statement 15/6 ‘Bringing additional benchmarks into the regulatory and supervisory regime’. The final rules contained in PS15/6, which will come into force on 1 April 2015,…

…foreign institution’s country of supervision can be considered ‘equivalent’ to the EU‘s regime, it may be subject to a ‘3rd country’ exemption and, if a transaction is undertaken under the…

…Financial supervisors report that direct observation is a way to assess firms’ culture and in a strong culture any poor drivers should be identified by front line, compliance and risk…

…is no clear view on how firms could get capital relief for good RegTech and so research, as well as supervisory involvement, is needed in this space to investigate the…

…to exercise their own judgment when subscribing to benchmarks. The exercise of this judgment could then be supervised by a regulator. However, not all jurisdictions buy the idea of proportionality….

By Sam Tyfield and JWG. Here algo again … Yesterday, ESMA published a notice stating that supervision of automated trading across the EU (in compliance with the ESMA guidelines from…

…are going to be able to demonstrate to supervisory authorities that their factors are modelable. All of this, and more, coupled with ongoing MiFID II efforts starts to look like…

…should keep learning about their customers because learning more about them, more often, will minimise friction in the relationship, Blake said. Banks have lost their “KYC superpower” because few in-branch…

…started enforcement and supervisory measures since June 2021 according to the latest update [11]. It looks like things might speed up as regulators have signaled their intent to plug existing…

…also points towards the appearance of the ‘Super-Local Operating Unit(LOU)’, whereby a small handful of LOUs (the organisations which allocate LEIs) have come to dominate a large portion of the…

…appropriate. With approximately 65 billion reports received by Trade Repositories by the end of 2017, ESMA, in its ‘2018 Work Programme for the supervision of credit-rating agencies, trade repositories and…

…desire for supervision and knowledge of AI system performance has led to obligations for model governance, accountability and expertise. Organisational control standards and staff qualification will need to be documented,…

…Supervisory Authority, and Andy Haldane, chief economist at the Bank of England. A change in leadership would significantly influence the line the regulator takes in 2016. Finally, the Senior Managers…

…information. Both firms and their prudential supervisors need to be able to link T&TR requirements to underlying data in their source systems and ensure that the formats and standards match…

JWG analysis. This summer, regulatory pressure on financial services firms has ratcheted up to unprecedented levels. Many may have breathed a sigh of relief as Dodd-Frank rule-making slowed … but…

…digital strategy for regulatory reporting, and outline the key steps needed for essential and effective banking supervision and financial stability. Share and discuss the different approaches taken to modernising regulatory…

…and more targeted with their historical supervision tactics, which is bad news for the corporates newly enfranchised under EMIR. But what firms really want to know is how tactics will…

With Stefan Ingves, Chairman of the Basel Committee on Banking Supervision, attending last week’s Institute of International Finance (IIF) Annual Membership Meeting in Lima, the Basel III topic made its…

…solved: the creation of a proper business case for how banking should be supervised. Politicians have continued to muse about the vast political intents of regulation, while industry experts have…

…a greatly expanded MiFID II transaction reporting regime will sit side-by-side with the EMIR trade reporting regime, creating a series of granular particles of information that supervisors will have to…

…sort out if or how new rules apply Practical ‘so whats’ matter more than ever 2013 is a pivotal year where political, supervisory and intra-firm priorities are set. [/pane] [pane…

…the current manual reporting processes more accurate, efficient and able to produce better transparency for supervisors Background The CPMI/IOSCO mandated derivatives reporting rewrite has an ambitious timetable. Hundreds of systems…

…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…

…for your enterprise to avoid not only facing fines and bad publicity, but undermining a fulfilling and important career. This is a superb addition to the literature. Dr. Larry Barton,…

…and systems for risk supervision, with board-approved risk management policies. However, the Basel Committee did little to reinforce the global requirement for risk data. At best they called for monitoring…

…a golden source of reliable crypto a digital market data trading venues and brokers which is accepted by supervisory authorities. Moreover, firms that aren’t willing to become compliant will face…

The UK’s data transformation plans and Europe’s integrated reporting strategy are shaking RegTech and SupTech foundations and FS Supervisors need a new, bold and long-term approach to aligning data and…

…of proper reporting to the firms they supervise in order to stem illicit activity, but also to understand the risks involved when big banks take more proactive measures to deter…

Over the past few years, global regulators have introduced new measures aimed at improving transparency. Most of their focus has been on getting a consistent, global view for the supervisors…

…introduction of climate risk to bank stress testing. The ESRB report recommended incorporating a hard landing scenario into the regular European Supervisory Authorities stress tests, while the Basel Committee is…

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…is expressed to supersede any existing data processing terms and conditions. periodically reviewing compliance with new GDPR-compliant C2P Clauses and the GDPR’s requirements in relation to the appointment and activities…

…(Supervisory Technology) deployment: Strategists will discuss the winners and losers from embedding high fidelity, low-cost data and digital compliance into new markets. Technologists and compliance experts will share future strategies…

…when assessing the risk of money laundering (ML) and terrorist financing (TF). The European Supervisory Authority (ESA) invited comments on all proposals put forward in the paper. Comments and questions…

…are very easy for the supervisor to fault with from the rear-view mirror. This quarter, JWG research has shown that governance topics are dominating the regulatory dialogue globally and new…

…through automation and AI. Conclusion On 7 June at our annual conference in London we will have discussions about all three sets of board priorities: the supervisors’, the firms’ and…

…now also reached CSDs, who will be required to clearly attribute managers to their departmental responsibilities. Those charged with supervising different aspects of CSD services are then easily identifiable. Above…

…purpose in the digital age ESMA DLT pilot EBA Integrated reporting EC Strategy on supervisory data in EU financial services BoE Transforming data collection LEI RoC CDE reporting strategy Digital…

…a decade. Years of partial reforms, amounting only to incremental improvements to the existing rules, have forced supervisors to call for wider reforms. Reviews of the current regime have highlighted…

…financial services have suffered from poor data quality, and not only from the results of the crisis. Ongoing assessments from institutions, such as the Senior Supervisors Group, confirm that it…

…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…

…provide greater access. Overall, a lot of good came out of our efforts, including the registration and supervision framework for SDRs, which set the tone for similar provisions in the…

…risk takers”, anyone supervising a certified person and those who perform “significant harm functions”. Senior managers will be required to provide annual attestations that the firm has complied with the…

…the road’ £126 million in recent fines for client asset failings mean MiFID II’s new requirements will be a major focus for supervisors. Taking a holistic and integrated approach across…

…on what you did or didn’t do appropriately.” Sources have also told The TRADE that the German Federal Financial Supervisory Authority (Bafin) has sent the strongest signal yet. Bafin allegedly…

…are more intensely supervised and regulated to safeguard the taxpayer against future crises. In developing prescriptive, detailed and costly standards which achieve the latter, regulators raise barriers to entry and…

…access rights, solidifying prudential and business conduct rules and enforcing supervisory requirements for limiting CSDs providing “ancillary services” (i.e., central maintenance services and other services which do not increase the…

…able to deliver a “professional” service and make full disclosure of their regulatory compliance as well as permitting supervisory oversight, such as on-site visits, to be carried out. The Level…

…“Although this note concentrates on MiFID, there is also a very clear link between the MAR applicability date (envisaged for July 2016) and the tools for supervising it (contained in…

…effective. Standard Bank’s considerable fine has shown that AML continues to be top of the agenda for supervisors, and that banks can and will be punished for systems and controls…

…of Middle Office and Supervisory Technology at Royal Bank of Scotland, said, “This is an innovative way for us to manage our compliance with regulatory rules. We hope this will…

…record keeping standards? As the EU has raised the bar, how will the US react? How will developments from the European Data Protection Supervisor influence record keeping requirements? [/accordion] But…

…core of ESMA supervisors in Paris is not going to be capable of carrying out the Foresight Commission’s recommendations without active engagement – and hard work – from market participants…

…on organisational requirements Article 17 on algorithmic trading Articles 34-35 on providing investment services and activities within the EEA. Other proposals may arise “such as provisions in MiFIR which supersede…

…China Banking Regulatory Commission will supervise online lending and peer-to-peer platforms and the China Securities Regulatory Commission will be responsible for crowdfunding and the online sales of funds. The new…

…FCA handbook, and certain rules will be superseded, amended or incompatible with the new regime. In order to prepare for the oncoming change, without transposing all of the PRIIPS provision…

…procedures consistently applied and supervised across the group. In turn, policies and procedures at the branch or subsidiary levels, even though reflecting local business considerations and the requirements of the…

…The International Standardisation Organisation (ISO) has done great work in 2017 in publishing as international supersets (i.e. to sit above but consistently with EU, US and other privacy rules) standards…

…gold-plating, and inconsistent application of MiFID II requirements across Europe. The national competent authorities may also take different approaches to supervision and enforcement. How significant these national differences will be…

…supervisors with much needed data in 2016. A survey carried out by the London Stock Exchange in April has suggested that almost all of the FTSE 100 stocks would exceed…

…fit for purpose in the digital age ESMA DLT pilot EBA Integrated reporting EC Strategy on supervisory data in EU financial services BoE Transforming data collection LEI RoC CDE reporting…