RegTech Insight Blogs The latest content from across the platform
Consumer Duty is Transforming Wealth Management but there is Still Work to be Done
By Suman Rao, UK Managing Director, Avaloq. A year on from the implementation of Consumer Duty, its impact on the UK wealth management industry has been undeniable, causing a positive cultural shift across the industry as firms modify their practices and behaviours to ensure they provide fair value for clients. Navigating the regulation’s requirements has…
CrowdStrike Incident Tests Operational Resilience
In an ironic twist of fate, the cybersecurity company CrowdStrike, best known for protecting systems from digital threats, recently became the source of a widespread operational resilience event, when a routine update to its Falcon Sensor security software caused chaos by crippling approximately 8.5 million Microsoft Windows systems worldwide including major banks and investment firms….
AI in FinCrime Prevention – Thought Leaders to Watch
Financial crime (FinCrime) has escalated into a formidable challenge for global financial institutions, with estimated costs soaring to staggering levels. Regulatory bodies worldwide, including the U.S. Federal Reserve and the European Central Bank, have intensified scrutiny over financial institutions with compliance failures in this high-stakes environment coming with hefty penalties including fines reaching into the…
Automation Key to Overcome Implicit Cost Conundrum as PRIIPs Predicament Looms
By Kifaya Belkaaloul, Head of Regulation, NeoXam. With just over 150 days until the Packaged Retail and Insurance-based Investment Products regulation (PRIIPs) changes, the financial industry must confront a looming implicit costs conundrum – and fast. The update to the regulatory framework on January 1 seeks to ensure that asset servicers undertake a more detailed…
Citigroup Fine Shows Importance of Having Robust Data Setup
The US$136 million fine meted out to Citigroup for data irregularities dating back to 2020 should serve as a warning to all financial institutions that robust data management is essential to avoid sanctions amid tougher regulatory regimes. The Federal Reserve and Office of the Comptroller of the Currency (OCC) jointly imposed the penalty on the…
RegTech Insight Q&A: UPI Rollout for OTC Derivatives by DSB
It’s been a busy year at the Derivatives Service Bureau (DSB) with the successful rollout of the unique product identifier (UPI) for OTC derivatives. RegTech Insight (RTI) caught up with Emma Kalliomaki, Managing Director of DSB and the Association of National Numbering Agencies (ANNA), for a Q&A to better understand how supports industry-wide standards adoption…
Webinar Review: Harnessing the Wider Benefits of Data Identifiers
Almost three-quarters of capital markets participants are utilising data standards and identifiers beyond their immediate regulatory use cases, realising the huge benefits that ordered and consistent datasets can bring to an enterprise’s entire operations. The findings of an A-Team Group Data Management Insight poll showed that 40% of respondents said they are using the resources to a…
Meeting New Capital Markets Challenges: Gresham and Alveo Leaders Discuss Merger and Future Plans
The merger of Gresham Technologies and Alveo, which was announced last week, was born of a desire by each company to scale their capabilities to meet growing international demand from financial institutions at a time of increased focus on data management. The venture saw Gresham Technologies delist from the public market to create the new…
Jefferies Streamlines OTC Derivatives Clearing with AWS for T+1 and More
Investment Banking firm Jefferies has deployed AWS services to streamline OTC derivatives post-trade operations to meet the new T+1 settlement deadline. The implementation was presented as a case study at the recent AWS Summit in New York. The session was presented by Jefferies’ executives Sudhakar Paladugu, SVP Corporate Technology, and Manish Mohite, SVP Global Head…
A-Team Webinar: Best Practices in Regulatory Reporting – Data Quality, Standards and Stakeholder Communications
The recent A-Team webinar “Best Practices in regulatory Reporting” identified data quality, adoption of standards, and transparent stakeholder communications as recurring themes in an effective regulatory reporting strategy for today’s complex and rapidly changing regulatory environment. This webinar brought together experts from the practitioner and RegTech communities; Jehangir Abdulla, Head of Back Office Development at…