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Technology and the ascent to compliance
09 Feb

Technology and the ascent to compliance

The rise of [insert-abbreviation-here]Tech companies signifies a pragmatic shift of business consciousness toward solutions that make use of advances in modern technology. In the banking sector, the magnitude and complexity of firms has immobilised the possibility for innovation. FinTech solutions attempt to combat this issue by producing new and intuitive services for banks and the Read More

30 Apr

Risk data aggregation: Getting ‘good data’ requires a new conversation

JWG analysis. Without a consolidated viewpoint on what new risk data requirements mean, firms will be at a loss when it comes to determining best practice. We are in the middle of a massive, global industry transformation with many rulebooks. With divergent regulatory timelines, standards and existing data architectures a common and holistic ‘best practice’ Read More

02 Aug

No excuses: The CRD IV case for centralising data in 2014 is strong

  • 2nd August 2013
  • RegTechFS

Counterparty classification regimes, such as CRD IV and EMIR, give banks a good reason to centralise their reference data, and the BCBS’ Risk Data Aggregation Principles provide a clear framework for doing so. From 1 January 2014, under CRD IV, firms will need to calculate CVA and hold additional capital on all derivatives contracts.  However, Read More

18 Jun

Risk data aggregation: forming the view from nowhere

Without a consolidated viewpoint on what new risk data requirements mean, firms will be at a loss when it comes to determining best practice. The deadline for firms to upgrade their risk data aggregation capabilities is fast approaching. The Basel Committee for Banking Supervision’s Principles for Risk Data Aggregation and Risk Reporting are due to Read More

01 May

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

29 Apr

Newsflash: IT to keep banks from meeting Basel deadlines?

In recent months, the number of high-profile figures championing the BCBS’ Risk Data Aggregation Principles has increased dramatically. Add to those the voice of Forbes’ Tom Groenfeldt, author of a popular column for the magazine on the crossover between technology and finance.  In his most recent article, Groenfeldt identifies some key implementation issues for banks Read More

18 Apr

Important step for EDTF: Investors call for banks to adopt recommendations

The work of the FSB’s Enhanced Disclosures Task Force (EDTF) has been taken relatively lightly until now.  But evidence is growing stronger of the effect that disclosures have on investor decisions, including investors making specific requests that their banks take note of the EDTF’s work published last October. Rachel Wolcott, writing for Accelus’ Compliance Complete, Read More

05 Apr

Into the limelight! Risk data aggregation makes headlines

Until now, awareness of BCBS Principles for Effective Risk Data Aggregation and Risk Reporting has largely been confined to a privileged few.  Thomson Reuters has now achieved first mover advantage in the race to the board room with this conversation with an expose of how regulators and firms are moving at different speeds on this Read More

03 Apr

BCBS gives auditors duty to report non-compliance

On 21st March, the Basel Committee on Banking Supervision released a consultation on its upcoming guidance for the external audit of banks. Auditors have been tarred, along with institutions like credit rating agencies, with having a hand in the poor practices that led to the 2008 financial crisis. The BCBS’ guidance is aimed at distancing Read More