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Top 6 Use Cases for AI in RegTech
As artificial intelligence’s influence on regtech continues to grow, so does the importance of minimising algorithm bias and maximising data quality. The use of Artificial Intelligence (AI) and machine learning in RegTech is playing an increasingly important role and helping to reshape risk and regulatory compliance. It can offer many benefits and we outline the…
RiskBusiness Acquires Gold Operational Loss Database
RiskBusiness Services has acquired the Global Operational Loss Database (Gold) from partner UK Finance, the former British Bankers Association (BBA). RiskBusiness, a UK-based provider of SaaS-based compliance solutions, plans to offer the Gold database to allow firms to benchmark and measure their exposures to operational risk. Mike Finlay, CEO and Chief Product Architect, RiskBusiness, says:…
SmartStream Combines Air, RDU to Offer Comprehensive Transaction Reporting for MiFID II
SmartStream Technologies has combined its SmartStream RDU reference data utility with its SmartStream Air (Artificial Intelligence Reconciliations) solution to create a new offering that provides regulated entities with comprehensive reporting capabilities for MiFID II. The new solution – Transaction Reporting Reconciliation and Reporting Decision Control – aims to address regulators’ growing requirement for completeness and accuracy…
Recorded Webinar: FRTB: What still needs to be done before the global deadline of January 2023?
While implementation of Fundamental Review of the Trading Book (FRTB) regulation has been delayed twice for reasons first of complexity and second of the coronavirus pandemic, the final deadline of January 1, 2023 is less than a year away. For banks in scope of the regulation, the time to put necessary risk infrastructure and data…
Everything You Need to Know About the EU Whistleblowing Directive
It is widely acknowledged that employees who report misconduct within their organisations play a key role in exposing breaches and preventing similar incidents from happening in the future. However, potential whistleblowers are often discouraged from reporting their concerns or suspicions for fear of retaliation. In this context, the European Union deemed it necessary to provide…
Need for Regulatory Clarity on Digital Assets Emerges as Key Theme at A-Team’s TradingTech Summit
The need for regulatory clarity emerged as the issue most needing resolution before institutions fully embrace the world of digital assets, delegates at A-Team Group’s TradingTech Summit in London heard. The TradingTech Summit saw a welcome return to the physical world this week, following last year’s break due to the Covid-induced lockdown. The event was…
Operational Resilience Ranks High on Regulators’ List of Concerns
Increased regulatory scrutiny of operational resilience in capital markets is forcing firms to take a more proactive approach to maintaining critical business functions. Continuity planning inevitably comes into focus during major events such as a global pandemic. But regulators’ concerns around the prevalence of other incidents – from ransomware attacks to natural disasters – have…
Digital Regulatory Reporting: The Turning Point for Compliance in 2022
By Leo Labeis, CEO at REGnosys. Regulatory reporting has long been mired by ambiguous and conflicting rules but new requirements this year and an industry-wide move to greater collaboration look set to usher in much needed change. For financial institutions, the upcoming CFTC Rewrite and EMIR Refit deadlines present a timely opportunity to review their…
Best Transaction Reporting Solutions
Transaction reporting is demanded of financial institutions by multiple regulatory regimes, with the goal of detecting suspected market abuse or money laundering. To comply, firms need to ensure their systems are able to deliver complete and accurate information about the financial instrument traded, the firm undertaking the trade, the buyer and seller, and the date…
Euroclear to Use Taskize for CSDR Penalty Appeals
Euroclear is expanding its use of Taskize’s collaboration tools as the preferred channel for its 2,000+ members to appeal penalties at both the International Central Securities Depository (ICSD) and its domestic CSDs, under the upcoming CSDR Settlement Discipline Regime. Using a Taskize Bubble that has been specifically built around a penalty appeal template, Euroclear members…