About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

ROC and DSB Sign Memorandum of Agreement on Governance of Unique Product Identifier

Subscribe to our newsletter

The Regulatory Oversight Committee (ROC) and Derivatives Service Bureau (DSB) have finalised a Memorandum of Understanding (MOU) on the implementation of governance arrangements for the globally harmonised Unique Product Identifier (UPI).

In October 2019, the Financial Stability Board (FSB) published governance arrangements for the UPI, outlining the governance framework and criteria for the UPI system. This included the need to establish a direct relationship between the ROC and DSB. In October 2020, the ROC expanded its mandate to become the international governance body of the UPI and the FSB transferred governance and oversight responsibilities in relation to the UPI to the ROC.

The MOU has been developed on the basis of collaboration between the ROC and DSB to outline the division of responsibilities in overseeing the UPI system, as well as the criteria and characteristics of how the system will operate in practice. It includes the commitments undertaken by the DSB to perform the role of UPI service provider in the interests of stakeholders in accordance with the governance criteria, and covers aspects such as access to information, expectations on policies and procedures, role and oversight of industry advisory committees, UPI service provider designation and designation procedures, financial sustainability requirements, stakeholder consultation and transparency needs.

François Laurent, chair of the ROC Chair, says: “The MOU sets the basis for a fruitful cooperation between the ROC and DSB to ensure that the UPI system operates smoothly and effectively.” Emma Kalliomaki, managing director of the DSB, adds: “We are working hard to ensure that the UPI governance principles outlined in the MOU are enshrined in the UPI service, so that all stakeholders will have the most effective UPI service from next July, 2022.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: End-to-End Lineage for Financial Services: The Missing Link for Both Compliance and AI Readiness

The importance of complete robust end-to-end data lineage in financial services and capital markets cannot be overstated. Without the ability to trace and verify data across its lifecycle, many critical workflows – from trade reconciliation to risk management – cannot be executed effectively. At the top of the list is regulatory compliance. Regulators demand a...

BLOG

A-Team Launches Inaugural AI in Data Management Summit New York City

Artificial intelligence-led applications offer financial institutions the potential to do more with their data at a time when increasingly complex economic and geopolitical influences place extraordinary operational pressures on them. The technology is now being applied to all parts of an organisation, from asset and risk management to customer relationship management and regulatory compliance. A...

EVENT

RegTech Summit New York

Now in its 9th year, the RegTech Summit in New York will bring together the RegTech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...