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governance

RegTech 2018: Keynote presentation now available

The PowerPoint slide show in the clip above is a presentation which was delivered by JWG’s CEO, PJ Di Giammarino, at an Financial Conduct Authority (FCA) Roundtable hosted by Burgess-Salmon and Grant Thornton on 10 May 2018. The main issues addressed in the presentation are summarised in this article.   

New regulatory fines to penalise bad culture?

The CEO of a major bank admits wrong-doing and pays a fine in the UK, while the NY DFS still mulls the case over. The same day, a different CEO has to tell his shareholders that his bank will pay $1 billion fine for poor practices. Quite a different result for breaking a rule. With

A DLT-based approach for more efficient regulatory reporting

Following a successful seventh reporting and reference data special interest group (RRDS 7) at the Financial Conduct Authority (FCA) on 13 February 2018, participants met for the usual post-RRDS drinks and networking session. At one point during the evening, we found ourselves mediating a friendly debate between two senior compliance officers on the post-trade reporting

Getting new MiFID II reports wrong could cost millions

Let’s face it, getting data right is never easy and, with MiFID II’s drive for transparency kicking into high gear, the risks of getting reporting wrong are greater than ever. With additional reporting regime change coming next year, why not make your life easier and join in the industry RegTech collaborations in this space? Recognise the risks Trade and transaction reporting fines come with

MiFID II product governance: is it the death of investment product market abuse?

Introduction With less than 5 months left before the deadline for MiFID II on 3 January 2018, firms are still grappling with the implementation of MiFID II.  One key area is the new product governance framework which has been enacted with the objective of ensuring that firms act in the best interests of their clients

Chipping away at Dodd-Frank: speculation subsides as US Treasury releases reform recommendations

On 12 June 2017, the US Treasury released the first in what will be a series of financial regulatory reports in accordance with Executive Order 13772 signed by President Trump.  The publishing of “A Financial System That Creates Economic Opportunities – Banks and Credit Unions” now gives us a better understanding of what the future

Addressing the reporting disconnect: we must formalise regulatory governance

In the eight years since the G20’s Pittsburgh summit, regulatory forces have reshaped the complexity of market infrastructure.  Unfortunately, there has not been a corresponding increase in the maturity level of industry engagement between the public and private sector. The current landscape for regulatory reporting is riddled with complexity – made evident by waves of

Costs and charges: the crossover between MiFID II and PRIIPs

Not long now – in less than 6 months’ time – both MiFID II and PRIIPs will become effective across EU Member States. ESMA recently published a Q&A on MiFID II and MiFIR investor protection topics in which 14 new questions were added. These include new Q&As on costs and charges in relation to the

Always-On risk and strategy management

I like the idea of “always-on” strategy and performance management, as discussed in a piece by members of the BCG consulting firm. Always-On Strategy hardly mentions the word “risk”, but it’s there in a major way. Consider this: To increase the odds of success in today’s turbulent environment, leading companies are complementing their annual strategy-setting […]

We need better reporting tools for the RegTech ascent

16 May 2017 signalled the end of the European Commission’s public consultation period on the operations of the European Supervisory Authorities.  The purpose of the outreach was to gather market evidence on the progress of the ESAs towards their objectives for short, medium and long-term stability and the effectiveness of the financial system. JWG brought

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