SupTech update: Digital Regulatory Reporting is here 

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By: PJ Di Giammarino  After a decade of data challenges, Regulators are now taking cautious steps towards new reporting technology. New reports issued this month show that DRR finally has traction and that demand for better solutions is high as the industry pinpoints which areas to deploy it.   We may finally be at a tipping point for both transactional and prudential data reporting. However, all eyes


UK regulators must endorse a single digital interpretation of European Market Infrastructure Regulation (EMIR) reporting rules if the digital regulatory reporting (DRR) work underway with industry collaborators is to succeed. The private sector has engaged and done much of the heavy lifting to prove digital regulatory reporting works for all kinds of business models, said


The UK’s Prudential Regulation Authority (PRA) has commissioned 11 skilled persons reviews under Section 166 of the Financial Services and Markets Act 2000 into firms’ regulatory reporting in the last two quarters. The PRA commissioned nine prudential s166 reviews of deposit takers in the fourth quarter 2019/20 (December through February), according to publicly available information.


FS Compliance officers have been hit with an unprecedented deluge of 3,021 COVID-19 alerts 2 months into the pandemic, which JWG forecasts to be a total of 15,695 documents by year end.   Regulators expect firms to be able to navigate these difficult circumstances while delivering fair outcomes for customers and complying with existing rules. That’s one of the clear messages in these 3,000 plus regulatory updates.  Better RegTech tooling is


Firms’ 2020 compliance workplans and risk management strategies have been rendered redundant as the regulatory response to COVID-19 has usurped everyone’s agenda. Regtech companies tracking COVID-19-related regulatory publications say more than 1,300 announcements have been made internationally as regulators roll out pandemic-specific guidelines and relax some rules to help financial institutions manage their businesses. “If


Author: Rachel Wolcott, Thomson Reuters The European Market Infrastructure Regulation (EMIR) derivatives trade reports and Markets in Financial Instruments Directive II transaction reports regulators collect is unlikely to be yielding the market insights required to navigate the COVID-19 crisis. The European Securities and Markets Authority (ESMA) 2019/20 annual report and work programme shows EMIR reports’


Round the table: ​ Firms: Barclays, BNP, Credit Suisse, EDF Man, ING​ Vendors: Altergiaia, Datavisor, Grant Thornton, Lysis​ Regulators: FCA​ Independents: Mark Davies, Kumar Raju, Stephan Niermann, Samantha Sheen ​ 15+ people will dive into AMLD V RegTech use cases:​ Discuss latest status with FCA TechSprint & Companies house interaction​ Review conclusions from the RTC registry survey and implications for RTC Project​


Round the table: ​ Firms: Barclays, BNP, BlackRock, Citi, Credit Suisse, EDF Man, ING, GAM, Santander, Westpac​ Vendors: Altergiaia, pTools​ Regulators: FCA​ Independents: Stephan Niermann, Samantha Sheen ​ 15+ people will dive into AMLD V RegTech use cases:​ Review FCA TechSprint outcomes for UBO ​ Understand potential vehicles for leveraging Citadel’s solution​ Identify potential participants​ Agree plans for CMS and RegTech Council on 17 October


Round the table: ​ Firms: Blackrock, BNP, Citi, Credit Suisse, Deutsche Bank, GAM, HSBC, Morgan Stanley, Natwest Markets, Railsbank​ Regulator: Companies House, FCA​ Infrastructure: BvD, Ince, SEI​ 25 people will discuss:​ Align our current understanding of 5MLD registry challenges​ Define key challenges for the RegTech Council​ Agree a plan to mutualise the work required to digitize the exchange of data The