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’


The State of Holistic Trade Surveillance – JWG research published 

In Partnership with:

By PJ Di Giammarino Over the past few years, financial services firms have been investigating how to improve trade-related surveillance capabilities and techniques. Expectations from regulators and senior management have been placed under the microscope, mainly due to high surveillance noise levels across all communication channels and asset classes. In tracking this evolution of technologies


JWG RegTech 2.0 conference – Regulators, regulated and leading technologists to explore winning strategies for top 2020-2021 issues   London, 6 December 2019 – JWG is pleased to announce that its 5th annual RegTech Conference will be held on 7 February 2020 at the Gouman Tower Hotel in the City of London.    At a crucial point of inflection post financial crisis the Financial Services sector faces 374 new legal challenges. New JWG research has revealed low levels of awareness to key shifts in the regulator’s RegTech framework. Specifically:    Enabling market ecosystems. New global RegTech/ SupTech policy initiatives    Infrastructure risk. FSB, FRB, BoE focus on cloud


Ready for digital regulation?

  JWG are pleased to announce new research in partnership with MarkLogic, which shows that financial institutions are ill-equipped to deal with the data demands of new regulation.   During Q4 2018, JWG conducted in-depth interviews with senior executives from 12 global financial institutions to develop the insight published in a subsequent paper titled ‘


Both MAR and MiFID II ushered in many new requirements that have forced firms to completely re-assess their approach to trade surveillance. One significant consequence is that firms are having to spend more time and resources on quality assurance controls that ensure trade surveillance systems are both appropriate and effective. MAR, for example, includes a


Latest RegBeacon published

We are now 10 years on from the crisis which began the seemingly never-ending stack of regulation that we continue to plough through. As with any infrastructure project the post-crisis regulatory framework requires renewal and repair. Regulators are revisiting reporting regimes and data standards, and are looking at the emergence of new technology, whilst at


One of the key conclusions reached at our Capital Markets conference on 7 March  was that regulatory divergence as a potential consequence of Brexit is currently one of the main worries for financial firms. When polled, 53% of our audience indicated that Brexit will be their next significant regulatory challenge. This anxiety derives mainly from