The revised European Markets in Financial Instruments Directive (MiFID II) looms over the regulatory horizon like an oncoming storm in the financial services industry. Aiming to improve the safety and transparency of financial markets, MiFID II reaches far beyond investment banks, impacting asset managers, commodity firms and OTC brokers and dealers too. In terms of
At JWG’s RegTech conference, now less than a month away, our second panel* will bring experts together to discuss the matter of aligning reporting obligations using RegTech to ease the regulatory burden. Panellists confirmed so far include Adedayo Banwo (Legal Counsel at Deutsche Bank, London Branch, former Counsel in the Office of General Counsel at
Date: April 2016 Dear fellow board members, As the Financial Conduct Authority’s acting head has so rightly pointed out, sustainability is the key to pleasing our shareholders and delighting our customers with a global approach to compliance. Since taking the seat which oversees our global compliance function in 2008, I’ve watched in horror as G20
JWG’s recent series on the emerging regulatory barriers and issues in FinTech, does an excellent job of setting forth the main issues for what is sure to be a busy few years of calibration for regulatory compliance and reporting. The emergence of RegTech, roughly the ways in which the adoption of new technologies can help
In our two previous articles, we mentioned that, despite the technology existing to enable ‘good regulatory practice’, the market has failed to overcome the four main barriers. Why? In short, while we have a strong chorus of support from the side-lines, the regulators are only just now beginning to take on the job of making
Continuing on from part 1, where we discussed the European regulator’s priorities for Credit Rating Agencies (CRAs) and Trade Repositories (TRs) for 2016, we now look at the nature and focus of the work the regulator plans to carry out this year to promote supervisory convergence. In October 2015, the European Securities and Markets Authority
In December of 2015, the European Parliament released a report “on stocktaking and challenges of EU financial services regulation” and, on Tuesday 19 January, the text was adopted by a majority vote of the Parliament in Strasbourg. So, what does it say? Compiled by the Committee on Economic and Monetary Affairs (ECON), the report assesses
Financial regulation remains as complex as ever. Complex new niches such as shadow banking, Fintech, and Over-the-Counter Derivatives, and the increasing interconnectedness of Financial Institutions (FIs) across the world, have led to greater risks to be managed for regulators. With this in mind, how they manage to get ahead of these rapid financial evolutions and
JWG analysis. As financial regulations keep piling up in the post-crisis world, it becomes increasingly difficult to recognise the similarities and differences between them. The interdependencies on the Know Your Customer (KYC) front are present, but somewhat tangled. Here we provide an overview of the current and upcoming client classification requirements under prominent regulations, and
JWG analysis. The European Banking Authority (EBA) have been particularly busy this year, publishing over 30 key documents (5 consultations, 5 guidelines, 7 technical standards, 4 opinions and 11 reports and other notable publications) between June and August. Keeping up this pace, according to the EBA’s September newsletter, we can expect 25 deliverables covering 16