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The Christmas gift …
Archive
08 Jan
2015

The Christmas gift …

JWG analysis. While most of us basked in the holiday spirit, the regulatory Grinches were hard at work.  In the two-week period between 19 December and 2 January, regulatory bodies in the UK, EU and US alone published over 40 critical documents. JWG’s tracking revealed a broad range of subjects.  CRD IV/CRR, BRRD, UCITS V, Read More

25 Nov
2014

What happens if nobody owns regulation?

This summer, we found that the industry could face up to three Eiffel Towers high worth of paper from the G20.  Curious about the risks inherent in managing that many documents, we asked Meredith Gibson, Head of Legal Risk at Santander UK, and Helen Pykhova, Director of The Op Risk Company and Chair, Operational Risk Read More

11 Aug
2014

Ready for the ‘summer of 39’ aftermath?

JWG analysis. This summer, regulatory pressure on financial services firms has ratcheted up to unprecedented levels.  Many may have breathed a sigh of relief as Dodd-Frank rule-making slowed … but the respite was only fleeting.  Since July, the industry has been bombarded with 39 new consultation papers (in the EU and UK alone) just as Read More

21 Jun
2014

Super Tuesday RegDelta alert no 1

  • 21st June 2014
  • RegTechFS

JWG analysis Last week, long after the news of Super Tuesday which reshaped the EU regulatory landscape, Europe made MiFID II, MAR, CSMAD, DGSD and the BRRD law of the land. The final Markets in Financial Instruments Directive (MiFID II) , weighing in at a slim 69% fewer pages thanks to repagination, appears to be Read More

20 Feb
2014

Fed locks down capital standards: how will Europe respond?

JWG analysis. The Fed made some concessions in timing and scope, but pressed ahead with measures to insulate the US financial sector from future bailouts earlier this week.  The news stoked fears that European regulators may look to reciprocate, triggering a race to the highest common denominator when it comes to determining capital buffers, and potentially Read More

11 Feb
2014

LEI update: hidden costs prevent enthusiastic take-up

  • 11th February 2014
  • RegTechFS

JWG analysis. Until the world has a definitive LEI, we are going to have to recognise that piecemeal adoption brings with it significant hidden costs in validating, enriching and mapping for regulatory purposes. LEI watchers have been encouraged to see Saudi Arabia and Italy joining the fold in the past month.  They might be just Read More

31 Jan
2014

EBA to mandate LEI: But key questions remain unanswered

JWG analysis. In late October, the European Banking Authority (EBA) released a consultation on the use of the Legal Entity Identifier (LEI) for CRD IV’s risk reporting requirements.  Now that the consultation phase has been concluded, firms may only have around 60 days to register LEIs for all their entities that report under CRD IV. Read More

20 Aug
2013

Paper skyscrapers: EBA to demand 15,000+ liquidity reports per annum?

  • 20th August 2013
  • RegTechFS

Back in May 2013, the EBA outlined a list of liquidity data in addition to that required under the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR) that it wanted to collect for monitoring purposes (here).  The list included information related to the entity’s reliance on maturity transformation, concentration of funding by Read More

01 Aug
2013

Good for firms, bad for supervision – EBA publishes CRD IV reporting ITS

  • 1st August 2013
  • RegTechFS

The European Banking Authority (EBA) has finally published its final draft Implementing Technical Standards (ITS) (here) on supervisory reporting for CRD IV. Long awaited, the technical standards set out the near-final reporting requirements, as part of COREP, for own funds, financial information, losses stemming from lending collateralised by immovable property, large exposures, leverage ratio and Read More

01 May
2013

Ending moral hazard: Discretion comes at a price… stricter reporting requirements

A single recovery and resolution planning (RRP) framework for Europe is seen as crucial to banking union and effective macroprudential oversight. In the latest draft directive, legislators appear to be relenting on the idea of automatic triggers for recovery plans, while simultaneously strengthening the powers of resolution authorities to request at short notice the data Read More