The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Talking Reference Data with Andrew Delaney: Back to Work

We’re back from Labor Day, August Bank Holiday and the Olympics (although the Paralympics continues here in sunny East London). It’s surely time to roll up the sleeves and get back to work.

The forthcoming ‘Fall Season’, as I like to call it, looks like it will be a busy one.

Everyone is in budget mode. Of course, budgets aren’t as generous as they may once have been (that’s a euphemism, I think). But the regulatory environment seems to be ensuring that financial institutions will have to make some investment in data and infrastructure.

Earlier in the year, our special report on Solvency II highlighted the data management requirement posed by this regulation.

While there seems to be some of the usual faffing about on the implementation date, the message is now being heard that Solvency II will have a significant impact on the data and risk management approaches of financial institutions way beyond the insurance market that it directly targets.

Indeed, we’ve seen a host of packaged data management solutions coming to market in preparation. So we expect some significant budgetary action in this space. If you’re not up to speed, take a look at our special report.

You may be aware that we’re in the throes of putting together another special report, this one on the legal entity identifier (LEI). As with Solvency II, the Dodd Frank regulation will require practitioners to act, this time on the adoption of the emerging identification standard for legal entities.

The marketplace has already had a glimpse of how this may look, with the recent launch of the DTCC and Swift’s CICI Utility.

Current timeframes expect full LEI deliverable starting from next March. And the message from our research in compiling our forthcoming LEI report is simple: Start work now. Precisely what kind of work is open to question, and you’ll have to wait for the report – due out this month – for some suggested approaches.

There’s much work to be done. Will it require Olympian effort? Might be a good thing, given how dead the City has been this summer.

Welcome back.

Related content

WEBINAR

Upcoming Webinar: The post-Brexit UK sanctions regime – how to stay safe and compliant

Date: 11 March 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes When the Brexit transition period came to an end on 31 December 2020, a new sanctions regime was introduced in the UK under legislation set out in the Sanctions and Anti-Money Laundering Act 2018 (aka the Sanctions Act). The...

BLOG

The Global Outlook for Regulatory Compliance – Where Are We Headed?

Are you ready for our upcoming RegTech Summit Virtual 2020? We’re so excited to bring you yet another action-packed online event, running over five days with a brand new livestream to make our content even more immediate. The first day kicks off with a deep-dive look at the global perspective for regulatory compliance and RegTech...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...