Introducing RegTechFS Hubs

RegTech: Digital Integrity

Financial Services is the largest, most regulated sector running on unregulated infrastructure across the globe. This group tracks the evolution of a regulatory risk management framework to address cloud concentration risk, machine learning, data ethics, data quality, cyber security and other technical issues which create systemic technology risk blind spots.

We will examine the treatment of what is viewed today as non-financial risk across a number of disciplines: operational risk, BCBS 239, operational resilience, cloud concentration risk, third party vendor management, privacy (including privacy enhancing technologies), encryption, data quality, AI, Machine Learning and distributed ledger technology.

RegTech: Trade Surveillance

Expectations from regulators for eComms, voice and trade surveillance technology in Financial Services have skyrocketed along with market volumes. RegTech can help cut the cost of billions of false positive alerts while improving oversight.

In this group we will help shape the dialogue across a patchwork of global regulatory obligations including: Market Surveillance (e.g., MiFID, MAD/R), Conduct, Culture, AML/CFT, AI, Data Ethics, Operational Risk and Senior management accountability regimes (SM&CR, ESMA/EBA suitability guidelines).

RegTech: Client management

Political will to prevent financial crime is increasing and the focus on how firms know who they are dealing with and the purpose behind their activity is increasing fast. New technology like privacy enhancing technology (PET), AI, Machine Learning and Semantics can help.

This group takes a global perspective on the holistic obligations for managing a client. We cover trading obligations which affect the classification of a client, AML, Anti-Terrorist Financing, Tax Crime and surveillance obligations.

MiFID III: EU, UK and Global trading RegTech

As global politics realign, the market structure is changing with it. Europe's Capital Markets Union initiatives will tackle pre and post trade obligations, consolidated tapes, market data costs, high frequency trading, investor protection, client classification, product governance, research and record keeping. Keep track of the discussions here and help us frame the global RegTech Trading debate!

JWG are recognised by regulators, financial institutions and technology firms as the independent analysts to help determine how the right regulations can be implemented in the right way. Our independence permits us to collaborate with regulatory and industry bodies, financial institutions and technology firms without serving the interests of any constituent over another.

RegTech Council

RegTech is now a sector defined as the use of emerging technologies by both financial institutions and regulators to make the writing, communications, interpretation, implementation and monitoring of regulations both more effective and efficient. With a groundswell of support, JWG have launched a committee of individuals who work for regulators, financial institutions, academia, standards bodies, professional services firms and the technology supply chain to examine the requirements for a new method for public/private sector collaboration to explore how technology can provide better methods of compliance and oversight.

The Council focuses on international RegTech adoption and longer-term R&D for the sector as it drives a portfolio of enabling projects to explore, test and evaluate the application of new technologies and their resulting digital assets. Over 10,000 collective hours has been contributed to meetings, research and PoCs since May 2017.