Last week, over 30 organizations including regulators, global financial institutions, trade associations and vendors met under the auspices of JWG’s Regulatory reporting special interest group (RRDS). In this 27th meeting on regulatory reporting the group examined the feasibility of integrating prudential/statistical ‘top down’ or more aggregated reporting (e.g., CRR 430C, ESG) and ‘bottom up’ or more transactional data collection (e.g., EMIR, MiFID, CSDR). So far


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. Though concepts have been proven and studies generally align, without a more concrete description of the future risk information system which extends today’s notion of ‘data’ to include ‘language’ regulatory data efforts will continue to cost tens of billions while failing to achieve their policy objectives.


Business 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


Following our discussion of several global accountability regimes and forthcoming culture audits we are turning our attention back to AI. This is a very noisy space with Germany, UK, Japan and the US all mandating new controls in advance of MiFID III update which could raise the algo trading bar even higher.   In this


  By Priya Kundamal, DTCC The fragmentation of trade reporting rules and the lack of a common data set across jurisdictions hinders transparency and global risk monitoring, writes DTCC’s Priya Kundamal. Market disruptions often spur change. In response to the 2008 Global Financial Crisis, one of the G20 reforms was to mandate the reporting of


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


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.


UK banks’ annual reports show an emerging understanding of operational resilience that emphasises business continuity planning and conflates pandemic performance with high operational resilience. Banks have asked regulators for more guidance on what they want operational resilience work to look like. That safe harbour will not be forthcoming, and firms need to work on evolving


The UK’s Financial Conduct Authority (FCA) Markets in Financial Instruments Directive II “quick fix” consultation signposts issues for further consultation as the onshored regime evolves post-Brexit. At the same time, the paper alerts industry to further consultations — at least two more from the FCA this year — including one contemplating the consequences of Libor