Article: A Systematic Approach to Staying Ahead of Regulations

17 June 2016 | Lloyd Altman

All firms that participate in the Capital Markets Industry -  from Banks, Fund Managers, Institutional Asset Managers, and Corporate Treasuries to Exchanges and Industry Utilities - need to stay abreast of existing and emerging regulations that dictate what, how, when, and where they need to report about their activity.

A major consideration for firms that are either global or that trade with counterparties outside their home country is that regulations across regions are not harmonized and keep evolving. For instance, Derivatives reporting requirements in the EU under EMIR for OTC Derivatives Trade reporting differs from the US requirements under the CFTC, which in turn is fundamentally different to proposed reporting requirements in the US under the SEC for reporting Securities Based Saps (regulation SBSR). Besides the granular details of which elements should be reported and at what precision, basic concepts such as which trade participant is required (or not) to report which essential data elements varies across regulatory regimes.

Besides these divergent requirements, new reporting regimes are on the near horizon, e.g. the aforementioned SEC

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