A spotlight on the business impact of digital regulation

Episode 12
NextGen SupTech reporting

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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.

However, supervisors are growing impatient with poor quality data and are raising the bar and issuing fines on both sides of the Atlantic.

A decade on from the last round of new regulatory reports post the crisis, scores of new reports are due to be delivered for more market transparency and prudential oversight in the next 36 months. The bills for these new reports are huge, but a mere fraction of the estimated £1.5bn to £4bn a year which 58,000 firms spend to satisfy 20,000 in the UK alone.

Dawd Haque, Deutsche Bank, Marc Gratacos, TradeHeader and Fraser Hall, Adenza talk about the big regulatory demands for new data and how new technologies are able to change the game, not only for the regulator, but for the industry as a whole.

The group discusses the huge business and supply chain opportunities which come with a focus on the ‘end to end’ view of the sector. A far cry from just completing a single regulatory reporting project this new approach has the potential to transform your business and dramatically reduce the cost of satisfying the regulator’s thirst for information.

This huge opportunity will not come without industry change. The efforts of the past decade to model the ‘end to end’ lifecycle of a trade have proven that safe space is required to bring the many disciplines together to share knowledge and agree digital standards.

JWG has been at the forefront of digitizing regulatory reporting for the past 5 years and share our perspectives about how the transformation itself is a very collaborative exercise which cannot be mandated from upon high.

Our subject matter experts look forward to deep insight on the next generation of regulatory reporting  from supervisors, academia, trade associations, think-tanks and suppliers at our annual conference on 16-17 November.

In particular they look forward to hearing:

  1. What are the state of industry reporting practices?
  2. How do they align with the regulator’s new reporting expectations?
  3. Where firms are in their journey toward digitalizing reports?
  4. What are the priorities for implementing it?
  5. How will DRR tooling be used and can it become a gold standard?
  6. How will firms deploy reporting RegTech to other parts of the business?
  7. What can regulators and suppliers do now to prepare for the future?
  8. How can other jurisdictions leapfrog by deploying DRR and SupTech?
  9. Can risk reporting be fast-tracked with the DRR approach?
  10. Can trade reporting be married with prudential and statistical returns?

We look forward to seeing you soon!

Register Here

Additional channels:

  • To join the JWG Reporting special interest group, email Corrina
  • Access the JWG Reporting LinkedIn here or Trading here
  • To create your own JWG RegTech Intelligence Hub, sign up here
  • To register for JWG’s 16/17 November 2021 conference, see here

More resources:

  • JWG’s Digital Reporting Task force update here
  • Global Derivatives Digital Regulatory Reporting Programme here
  • Thomson Reuter’s regulatory intelligence analysis of PRA Dear CEO letter here
  • RegCast 4: Transforming data collection – UK BoE / FCA spotlight here
  • RegCast 6: Digitizing derivative reporting with DRR here
  • JWG 2012 Dirty Windows: regulating a clearer view – The €24 billion case for EU transparency
  • JWG 2020 new approaches to Digital Regulatory Reporting analysis
  • JWG 2021 research on a tipping point with the Industry’s Common Domain Model
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