RegTech Insight ESG The latest content from across the platform
Regulation Best Interest: A New Standard for US Brokers
The US Securities and Exchange Commission’s Regulation Best Interest—or Reg BI— officially came into effect on June 30, 2020. Brokerage firms now have to comply with a whole new standard of conduct when dealing with retail clients, in one of the biggest regulatory shake-ups for the US market in years… but there have been concerns…
SteelEye and UnaVista Partner on Reporting Solution Following CME Announcement
SteelEye, the compliance technology and data analytics firm, and UnaVista, the regulatory reporting platform from London Stock Exchange Group, have joined forces to support financial firms with best-in-class reporting services as they migrate from CME’s European Trade Repository (TR) and NEX Abide regulatory reporting services, which will close in November 2020. SteelEye has been a technical…
UK Opts Out of CSDR Buy-in, SFTR Reporting
In a written statement outlining a series of regulatory reforms planned for the UK, Chancellor Rishi Sunak confirmed last week that the UK will not include the Central Securities Depositories Regulation’s (CSDR) settlement discipline regime as part of its adoption of EU regulations post Brexit. Instead, UK firms should “continue to apply the existing industry-led…
FCA Explores New Prudential Regime, Considers Operational Resilience Guidelines
The UK’s Financial Conduct Authority (FCA) has published a discussion paper on a prudential regime for UK investment firms: marking the first step in introducing a set of prudential rules for investment firms to better reflect their business models and the risk of harm they pose to consumers and markets. “We have long advocated for a bespoke…
Borrowing Time: Industry Must Converge on Margin Call Automation
By Tim Keady, Chief Client Officer (CCO) and Head of DTCC Solutions. Although the global impact of Coronavirus (Covid-19) feels like a once-in-a-generation event, it is the latest in a string of crises that have impacted financial markets over the past couple of decades. With the tech bubble burst in 2000; followed by September 11, 2001; then the financial crisis of 2008-2009; and the flash crash of 2010, the industry is no stranger to disruptive events. Not…
Recorded Webinar: Overcoming the Barriers to Implementing RegTech Solutions: The View from Either Side of the Fence
RegTech holds the promise of targeted, agile and often low-cost solutions to the real-world problems faced by financial institutions across the board. So why is it so difficult to get RegTech projects off the ground? RegTech solutions providers complain that it’s difficult to get access to decision-makers, and even when they do it’s tough to…
EU Launches Dedicated New Unit in Financial Crime Crackdown
The EU has set up a new division to fight an expected surge in financial crime and money laundering as a result of the coronavirus crisis, with a focus on the protection of public funding. The unit has been set up in response to the potential increase of financial and economic crime and the involvement…
Are You Ready for RegTech Virtual 2020?
We’ve only got a week to go, and our brand new and fully virtual RegTech Summit is fast approaching. One of the most innovative, exciting and engaging platforms we have ever worked on, we are delighted to bring you two days of unique, insightful and cutting edge content on the most pressing regulatory challenges of…
EU Regulator Offers Guidance on Cloud Outsourcing
ESMA has issued new guidance this month to help financial providers understand their compliance responsibilities when outsourcing functions or investment activities to cloud-based providers. Published on 3 June in in draft form and currently open to consultation, the proposals are designed to help firms mitigate the risks that they are exposed to when outsourcing to…
FCA to Increase Surveillance Scrutiny Over Market Abuse Concerns
In its latest Market Watch of May 2020, the UK’s Financial Conduct Authority (FCA) shines a spotlight on the challenges of monitoring against market abuse during the coronavirus pandemic – warning that it will continue to take enforcement action, and urging financial services firms to review and where necessary upgrade their systems and processes to…