JWG urges sector to address systemic technology risk blind spot

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JWG is proud to announce the publication of a ground-breaking research report ‘Risk control for a digitized financial sector.’    The analysis identifies a large systemic technology risk blind spot which regulators must take the lead in addressing. JWG urges Financial Services regulators and firms to collaborate with technology firms on new RegTech standards in advance of cloud and data crises.    The paper, which incorporates findings from JWG’s RegTech 2.0 conference and dozens of discussions with regulators, regulated and academia, builds on 10 years


How a firm manages data is now intrinsic to its value, yet the FS risk management framework provides no way to account for IT obsolescence, cloud concentration and data risks on the balance sheet. An explosion of advanced computing capability facilitated by cloud technology has provided massive benefits to both regulated financial institutions and their


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


The State of Holistic Trade Surveillance – JWG research published 

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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


RegTech: the new lifeblood of compliance

By PJ Di Giammarino, CEO JWG Group and Chair of the RegTech Council In the aftermath of the global crisis, financial regulators rushed to implement complex rules without having a complete view of their consolidated impact and how the technical infrastructure of the industry would have to respond to their new demands for data. After


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