RegTech IntelligenceBusiness 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
4 half day training sessions in the US ET am to orient Digital Regulatory Reporting Digitizers By the end of the course participants will be able to transpose regulatory text into a CDM functional expression in Rosetta for the purposes of generating regulatory reporting. The course relies on a set of DRR training videos produced
Last week marked a key turning point for the derivatives industry as it moves towards aggressive implementation deadlines for regulatory reporting on either side of the Atlantic. After a decade of international regulatory reporting the sector is marshalling resources to meet new CPMI/IOSCO implementation mandates for newly standardized common data elements. A poll
It was agreed that the programme was on target to delivering an EMIR Refit-ready Common Domain Model (CDM) for all asset classes in scope of the regime in Q1 22. This will give firms ample time for integration and testing in advance of the anticipated go-live date which is anticipated to be Q4 22. Members also expressed their support for launching a US-focused project on CFTC implementation as part of the Global DRR programme.
Sponsored by Accountability is a theme that has been on the industry’s to do list since the Great Financial Crisis. Five years since new senior management regimes started rolling out, 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
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 technology strategies. As discussed in RRDS 26, the Global Derivatives DRR programme is enabling firms to meet CPMI/IOSCO deadlines in 2021 and offers an excellent
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
Presentation from SIG meeting on 18 May to review updates to the trade surveillance regulatory agenda, review global accountability regimes and agree priorities for RegTech and SupTech tooling.
Digitization ramp-up and continued focus on CDE and EMIR Refit field modelling to deliver output that can meet ESMA obligations and help with the delivery of CFTC reporting requirements in 2022.
Digital Regulatory Reporting Architecture Working Group meeting 4 to review progress vs. semantic plans and follow-up actions from oversight committee meeting 5 (DOC5) and Programme Oversight Committee 2 (PoC2). DRR CDM semantic & disambiguation requirements review Semantic architecture options and resourcing Test data approach (AB/EH) Eligibility approach