RegCast
By JWG Group
RegCastJan 29, 2024
Season 4 Episode 6: Fear, Greed, and Safety in Surveillance RegTech
As financial institutions face increasing pressure from regulators and customers to ensure transparency and ethical behavior, the importance of surveillance RegTech has grown exponentially. But what drives the adoption of better technology? Is it fear of regulatory fines, greed for profit, or a genuine focus on customer safety? Episode 6 of RegCast Season 4 explores the 2024 surveillance forces in the lead-up to JWG’s highly anticipated conference in London on February 7th. Firms and regulators register FREE and find materials here.
Season 4 Episode 5: The Future of Derivatives Reporting: Leveraging Data, Standards, and AI
Regulators are doubling down on data quality and post trade reporting as 8 countries are switching to new derivatives reports this year. Firms are mutualising efforts and leveraging the open source Common Domain Model to de-risk the implementation and leverage “common glue” to better understand their risks. This is a big step up for firms amongst a large amount of change. Will firms adapt their technology platforms to unlock the power of data, AI to get more insight from their business flows? Join JWG and Pierre Kovacs, a trade reporting guru from Endava as they talk through the key issues from the latest RegRadar for data, AI and regulatory reporting in advance of JWG’s annual conference on 7 February in London – firms and regulators register FREE and find materials here.
Season 4 Episode 4: Has AI forced banks to collaborate?
AI is in the policy makers’ sights and European regulators took a big step towards implementing tough new Digital Operational Resilience standards this month. It's not just one technology risk that regulators are keeping an eye on, there are dozens of new rules that apply to tens of thousands financial institutions and their suppliers. Everything from Cloud to Cyber and Quantum is on the RegRadar in this RegCast. The panel decodes the impact of the rules that will shake the culture, operating model and accountability for technology to its core. Listen in as we set the scene for our annual RegTech conference on 7 February in London! Please find our latest research and join us here: https://regtechconference.co.uk/contact-us/
Season 4 Episode 3: Rethinking ESG reporting RegTech 2024
Rethinking ESG regulatory reporting becomes a critical board-level challenge. Regulatory standard setters have been actively shaping the landscape and defining what “good green data looks like”. Implementation of new XBRL templates kicks off in 2024 and has pushed ESG data plumbing to the top of the open source standards list as financial institutions search for a way to create an auditable path between their data sources and the regulatory reports for the EU's Corporate Sustainability Reporting Directive (CSRD). Experts from Solidatus, Thomson Reuters Regulatory Intelligence and XBRL join JWG to discuss the key issues which will shape our 2024 priorities in advance of our annual conference on 7 February in London – find research on this topic and register here.
Season 4 Episode 2: A new era of ESG data auditability
ESG and climate standard setters have been busy. Boards face an alphabet soup of voluntary, industry, regulatory bodies which are defining how ‘green’ they are. New capabilities are required in 2024 to manage the deltas between the languages being used to describe ‘what green looks like’ to an auditable standard. Large firms caught by EU regimes are facing very tight reporting Implementation deadlines that require looking at operations, risk and information management in fundamentally different ways. Kevin Bourne, former trader and ESG data guru, primes us for what lies ahead and teases out the ‘so what’ for regulated firms in advance of our annual conference on 7 February in London – register here.
Season 4 Episode 1: RegCast Radar 2024
It has been 3 years since we embarked on the RegCast journey and 48 episodes later we take stock of the progress we have made against our podcast goals. PJ Di Giammarino, CEO and founder of the global think-tank, JWG and Corrina Stokes, JWG COO discuss what we’ve learnt on the journey so far, what’s important in 2024 and how that will shape our 2024 RegCast priorities in advance of our annual conference on 7 February in London – register here.
Today’s AI-enabled Embedded Compliance journey
In this RegCast, we discuss the findings from our JWG report "Embedded Compliance Unlocked" which we have published with support from Apiax and EY.
This authoritative white paper shines a light on how financial institutions have embraced AI and other technologies as part of their digital transformation journey, using rule repositories and model-based controls to overcome fears of non-compliance and increase profits while ensuring safety throughout the process.
AI-enabled Embedded Compliance has the potential to have a big impact this decade and those that have established rule repositories are at a distinct advantage and moving now. What does it take to do it right?
Join us for a dynamic discussion on the future of compliance technology with Ralf Huber, Co-Founder of Apiax, and Darko Stefanoski, Partner, Law Leader Financial Services, EY Switzerland.
Download the paper free here: https://jwg-it.eu/article/uec/
Unlocking Embedded Compliance
Financial services RegRadars have been hot this summer with regulators dumping new demands for everything from AI to Quantum before hitting the beaches.
In this RegCast, we discuss the findings from our upcoming JWG report "Unlocking Embedded Compliance" which we have authored with support from Apiax and EY. This analysis sheds light on how numerous financial institutions have integrated embedded compliance into their digital transformation journey.
With more leaders embracing RegTech, the industry can be more agile and efficient. Common models and open source become the reference point for ‘what good looks like’ to the customer and regulator'. Or can they?
Join us for a dynamic discussion on the future of compliance, its implications for financial institutions, and why now is the time to take action. JWG is joined by Ralf Huber, Co-Founder of Apiax, and David Silverman, author of "Stop Harming Customers: A Compliance Manifesto".
Breaking surveillance silos
In this episode of RegCast, we delve into the $2 billion recordkeeping fines that have impacted firms' communications infrastructure. We discuss the root causes and how regulators are targeting compliance officers and business owners who act outside the boundaries. Sam Tyfield, Shoosmiths and Chad Billing, NICE discuss the shifts in regulatory expectations and the reality of technology and compliance. We also explore how AI-powered analytics can provide context to surveillance data and reveal its true meaning. However, with senior management regimes and EU AI Act looming, we emphasize the importance of designing systems with sufficient controls in place to meet regulatory, employee, and customer requirements. Our guests share insights on how breaking silos and utilizing open-source collaboration tools like the CDM can help deliver a holistic view of integrated risk in a better, faster, cheaper, and safer way. Don't miss this informative and engaging episode and for more JWG analysis on breaking surveillance silos see JWG’s latest research here.
ChatGPT in compliance
Generative AI has had a profound impact on the 2023 RegTech agenda. It can help but needs safety rails that keep the business in control and gives compliance visibility over the digital banking platforms. The fact is that there are many processes, like regulatory reporting, that are out of control today. Common code will help cut through the fog of thick policies, controls, and risk spreadsheets. However, it can’t be another corporate GRC tax, it needs to be aligned to the systems that run the business that already have regulations that forbid black box AI. This panel brings these challenges to life and sets the scene for JWG’s 29 June Reporting RegTech and SupTech Seminar. Register here: https://reporting.jwgevents.org/
22 March Panel: Priorities wrap-up
29 June Panel: Priorities
Could integrated risk controls have saved SVB?
As the Silicon Valley Bank shock waves echo through the system, the market is asking: shouldn’t we have seen this coming? Integrated risk management has always made sense but it is a dream that requires joined up data, systems, benchmarks, standards and frameworks. Firms, driven to operational efficiency, and regulators, keen to protect the consumers have aligned interests. Yet we have been talking about the need for this shift since 2017. The 2023 challenge is to find a way to agree the risk framework that is based on code, not mountains of paper. Will SVB be a wakeup call that spurs regulator and regulated to align on what good risk management looks like? In advance of JWG’s 22 March Trading Compliance Seminar we explore what matters in 2023. Register here: https://tc.jwgevents.org/contact-us/
Digital assets – a new line in the sand
Description: Just when policy makers had pens poised to update rulebooks FTX spooked policy makers. In the famous words of Warren Buffet, many guiding lights were found to be swimming naked when the tide went out. However, RegRadars have lit up as intrepid regulatory agencies have pushed forward with a patchwork of international guidance that has set the scene for the rulebook updates. In this context, the UK’s 2 Q123 consultations has forged a critical path forwards. In this episode we explore how the digital asset international framework is written and articulate the keys to success which we will elaborate at JWG’s 22 March virtual seminar https://tc.jwgevents.org/contact-us/
Finding market data clarity
Europe’s dream of transparency has turned into a market data nightmare plagued by extortionate costs and dubious quality. In Brussels, Paris and London the political focus has now shifted from unread best execution reports to finding clarity with truly transparent feedback loops between the consumer and the market participants. Trading RegRadars are hot as regulators on both sides of the channel are now mandating consolidated tapes and looking at commercial obligations. In advance of JWG’s 22 March Trading Compliance Seminar we explore what firms should be doing now to get ready for big changes which will be introduced later this year. Register here: https://tc.jwgevents.org/contact-us/
RegTech radars 2023
Public and private sectors are finding a path through the jungle of compliance to safe, compliant code. Firms have critical infrastructure decisions to make and the public/private structures in place today will require new mandates, new ways of working and new compliance tools. Financial Services regulatory experts Gavin Stuart, Director, Grant Thornton with 27 years of UK regulatory experience and PJ Di Giammarino, CEO and founder of the global think-tank, JWG give their perspectives on their RegTech radars and the top themes for industry collaboration this year.
De-risking ‘the how’
By 2025, overlapping requirements to mitigate operational resilience, control third-party services and improve technology governance will require unprecedented transparency and assurance from third-party technology providers. These new regulations will fundamentally change the landscape for the biggest tech companies and their customers. What will this mean to firm risk silos and how will a complicated supply chain help meet these fast-moving regulatory controls? In the run-up to JWG’s 9-10 November conference, we ask banking, compliance and technology experts what should be on the agenda for 2023. Please join us here: https://regtechconference.co.uk/contact-us/
DRR Music ups tempo
Since 2017 Regulators have been experimenting with new technology to get better risk data via Digital Regulatory Reporting (DRR). JWG is proud to have helped get global Derivatives off the drawing board and into production in time for the US CFTC reporting rewrite this quarter. We were equally pleased to see the European Commission endorse the DRR approach. But it was absolutely music to our ears that, at long last DRR, will be an FSB agenda item in 2023. Listen in to understand why and please join our virtual conference on 9-10 November to figure out what it will mean next year https://regtechconference.co.uk/contact-us/
TradFi trading & Digital Asset controls
An errant trade in Q222 sparked a flash crash that should not have happened under MiFID II. The ‘fat finger error’ is still being investigated but could result in significant fines. As our working groups know well, TradFi firms are asked to keep their algorithms under control and certify to their trading venues that they are fully tested in real market conditions. Digital Assets traders have much to learn about the speed at which a panic button can be pushed as self-updating code is learning about market pricing. Now more than ever, legal certainty, standards and an interoperable infrastructure is required. In the run up to JWG’s 9-10 November conference we ask banking, legal and technology experts what should be on the agenda for 2023. Please join us here: https://regtechconference.co.uk/contact-us/
Digitizing the regulatory horizon
Global enforcement action shows firms failing to manage risk and compliance across their unwieldy organisations. Constant change and new rules add enormous complexity to managing regulatory risk. This is a global challenge but particularly acute in the UK where the government seeks to rewrite the entire financial services rule book by year end 2023. What are the barriers to adopting automated approaches to policies and controls and how should firms be leveraging RegTech? In the run up to JWG’s 9-10 November conference we ask banking, compliance and technology experts what should be on the agenda for 2023. Please join us here: https://regtechconference.co.uk/contact-us/
$2B reasons for surveillance RegTech
On 27 September, US regulators served 16 Wall Steet firms nearly $2 billion in fines for doing business over personal applications like WhatsApp. The CFTC proclaimed the era of evasive communications practices to be over. However, as the FCA’s MarketWatch 69 illustrates, firms have struggled to implement surveillance policies which are fit for purpose. 2 decades after ‘Minority Report’ the technology exists to provide compliance with more support, but policy owners wrestle with the fragmented market, privacy and AI rules which push back on adopting holistic approaches which cover the globe. In the run-up to JWG’s November conference, we ask experts what should be on the RegTech agenda for 2023. Join us here: https://regtechconference.co.uk/contact-us/
Accountability RegTech in Ireland 2024
The long-awaited Individual Accountability Framework Bill 2022 has been released and a new Senior Executive Accountability Regime (SEAR) is likely to be law of the land by mid-2024. These rules will make bankers individually accountable for all the activity in their financial institutions with fines and even jail time for wrongdoings. So what will change for banking on the continent and how will RegTech play its part role? Legal, behavioural and technology experts who have been there and seen this before share their views on what it takes to get this programme right in the run up to JWG’s 9-10 November conference. Please join us here: https://regtechconference.co.uk/contact-us/
RegTech year 7: Digitally native
Regulators have been busy over the summer and JWG is pulling together its 7th annual conference to discuss the next phase of RegTech. In this episode, we cover the angles our research team is taking to cut through the noise and shine a spotlight on the compliance challenges for a digital market. We revisit progress on key programmes like digital assets, trading and AML (e.g., MiFID III, MiCA, MAD II, AMLA, ECP2++) and identify new ones (e.g., Digital reporting, Operational Resilience, AI, Cyber). RegCast plays a key role in year 7 and we explain what listeners can expect in the run-up to 9-10 November which you can register for here:
Reviving FinCrime RegTech
Financial crime is at a crossroads. The interconnectedness of the economy makes it easier to commit financial crimes without a hybrid workforce spotting them. Decades of collaborative initiatives have proven that new technology can help spot patterns and identify networks. However, FS professionals need to do something really hard to make this work: collaborate on open standards and detailed policies that machines and humans can understand. Our expert panel explored how to get beyond the continued failure to get to ‘phase two’, driven by operational SMEs in a ‘safe space’ recognised by the public sector. For more background, and to listen to the other panels, see JWG’s RegTech seminar here: https://aml-sanc-surv.jwgevents.org/contact-us/
FinCrime RegTech at the crossroads
Regulators want financial crime risks for both TradFi and DeFi integrated and are dishing out large fines. RegTech solutions can help but only if we align with fast-moving new rules. 2022 political turbulence and a market explosion of digital asset offering has thrust the slow-moving FinCrime RegTech policy agenda into the limelight. JWG assembled an all-star panel to discuss the decisions which need to be made on future approaches to compliance infrastructure from today’s crossroads. We found a lot that needs to be decided now! For more background, and to listen to the other panels, see JWG’s RegTech seminar here: https://aml-sanc-surv.jwgevents.org/contact-us/
An Interpol for sanctions
Sanctions are not nearly as effective as they could be. JWG assembled an all-star panel to discuss the current difficulties by the public and private sectors and how RegTech could help. The speakers shared insights on how a new body could act as the ‘Interpol for sanctions’ and work collaboratively across public and private sectors. For more background, and to listen to the other panels, see JWG’s RegTech seminar here: https://aml-sanc-surv.jwgevents.org/contact-us/
Digitalising sanctions
The political process by which sanctions are agreed is difficult but the process for implementing them is worse. The industry is plagued by operational timing issues, data gaps and poor communications between public and private sectors. As a result, sanctions are a real operational headache and not nearly as effective a weapon as we would like to think they could be. There is a tremendous opportunity for RegTech to help. JWG assembled policy, compliance and operational gurus to discuss the problems, potential solutions and what they are most looking forward at JWG’s RegTech seminar on 23 June here: https://aml-sanc-surv.jwgevents.org/contact-us/
When DeFi catches the AML car
TradFI has long been expected to perform AML/TF miracles with limited help from the public sector. By some estimates, 99% of economic crime goes undetected leading to 5 years of debates about how to fix it. New, open access to registries and public/private partnerships which enable better standards and data sharing are starting to emerge just in time for the De Fi debate. With sanctions escalating and crypto values varying wildly, new rules are expected this year. All this means it’s time for policy gurus to start looking ahead to what the future risk framework will look like and what the new rules of the digital game will be. What a great time to register for JWG’s 23 June seminar here: https://aml-sanc-surv.jwgevents.org/contact-us/
Economic crime RegTech Priorities
The way we look at economic crime risks and controls is changing. Sanctions and other drivers have forced institutions to take a more holistic view of risk disciplines and integrate process that on-board clients, screen their transactions and monitor the marketplace. In advance of our 23 June RegTech seminar we assemble all-star technology and compliance experts to talk about how the demand for RegTech has changed and what it takes to get the organisations to rally around new ways of working. We also say goodbye to a giant in the RegTech arena who has departed us all too early in this endeavour. Register here: https://aml-sanc-surv.jwgevents.org/contact-us/
Market Watch 69 & RegTech
Gone are the days when compliance could assume all communications channels were monitored within the safety of the firm’s firewall. Communications between firms and their clients have become as decentralised as digital assets. Recent fines for improper WhatsAp monitoring and missing 250 hours of YouTube have shaken compliance teams. The FCA’s May 22 Market watch 69 observes a number of policy shortcomings in market conduct and AML policy but remains silent on technology. Experts debate the appropriate RegTech strategies and the business cases which will unlock the funding for them in advance of JWG’s 23 June Seminar. Register here: https://aml-sanc-surv.jwgevents.org/contact-us/
Economic crime & RegTech plans
2022 is a tipping point for the next generation of economic crime RegTech. Decentralised services are presenting unquantified levels of risk to the system and rules are moving fast to keep up. The good news: after 5 years of laboratory experiments and forests of reports, RegTech can provide a migration path for compliance regimes. In this episode we explore the current state of compliance and how RegTech can be leveraged in today’s economic crime programmes across all asset classes in advance of our 23 June Seminar on AML, Sanctions and Surveillance. Register here: https://aml-sanc-surv.jwgevents.org/contact-us/
Protecting Digital Asset Investors
The old days of imaging digital assets as a way to evade regulation are gone. In fact, digital assets are bringing with them better, more digital approaches to compliance. Assets come with ‘compliance inside’ the token and new RegTech tools and approaches are emerging as regulators create certainty for this new asset class. Brian, Rudi, Charles and Phil discuss the key digital asset risks from a consumer perspective and what is the role of RegTech in mitigating them. They also give a sneak preview of what they will be talking about at JWG’s 5 April seminar. Register: http://dartech.jwgevents.org/
Managing Digital Asset risk
A recent industry report revealed tremendous opportunity for wholesale finance if we can get digital assets right. Faster payments, higher availability, cheaper settlement and better liquidity are all within reach. We ask the experts about the fundamental changes introduced by this new asset class and what role of RegTech has to play in monitoring new risks. Tom, Peter, Alex and Dan help us understand what is happening now and why TradFi professionals should care in advance of JWG’s 5 April seminar. Register: http://dartech.jwgevents.org/
Trading Digital Assets on TradFi rails
Purveyors of digital assets have faced a dichotomy of slow-moving regulatory expectations and fast-moving customer expectations. With the US Presidential Order on Digital Assets, regulators have started to move and 2022 will see rules being drafted on either side of the Atlantic. Steffane, Brian and Chris take us though how RegTech can help shape regulatory expectations for these new digital assets and what that means to traditional finance. They also share their thoughts on what they are most looking forward to taking away from JWG’s 5 April seminar. Register: http://dartech.jwgevents.org/
Good digital surveillance
The great work-from-home experiment forced traders from the office and digital surveillance teams into overdrive. RegTech provides a path forwards for serious legal challenges that stand in the way of effective oversight today. Rachel Wolcott, TR and Eddie Cogan, ACA Group discuss what is changing for surveillance functions within financial institutions and wat is most important to get RegTech right? Please see our article here https://jwg-it.eu/article/surveillance-regtech-2022/
Top 5 RegTech themes 2022
Regulation continues to move fast and PJ and Corrina summarise how the RegTech agenda is coming into focus for 2022. They discuss how RegTech is now at another tipping point where it will be asked to help with interoperability between TradFi and Digital Finance. JWG explains the key regulatory drivers and how they will tackle the themes in RegCast Season 2 which you can find in the 2022 Beacon which is on the JWG website ( www.jwg-it.eu ).
RegCast 20: Disrupting compliance
Our 2021 wrap-up shines a spotlight on controls and the compliance function. Market turmoil, transparency demands, surveillance and new technologies have all led regulators to demand that the control problem be fixed. Shifting to model-based controls will fundamentally change the way firms and their suppliers think about compliance. Our experts debate what this change will look like, what it means and when they think it is coming. PJ, Gavin, Rachel and Robert even share their Christmas wishes for 2022!
Digital supply chain transparency
Regulators have introduced new, holistic resilience obligations to ensure that the financial system can withstand IT disruptions. In parallel, new climate disclosures are forcing firms to disclose carbon emissions from their technology.
In a nutshell, this means a Firm’s non-financial risk management approach just got a lot more complicated. Front, middle and back offices will need to singing from the same hymn sheet when calculating their green ratios and answering tough strategic and tactical questions about their suppliers.
Brian Yeoh, Mike Zehetmayr, and Richard Harmon discuss the fast-changing outlook for one of the world’s most digital sectors which you won’t want to miss at JWG’s annual conference.
Digitizing Compliance’s many dashboards
Historically, regulatory expectations for Compliance officers have focused on identifying and remediating siloed risks which together provide an executive view of conduct and culture.
However, global expectations are shifting and a future where a predictive, integrated surveillance capability is supported by large datasets and scalable enterprise-wide solutions is emerging now.
JWG asks, “What is the future tech stack for compliance?” and together with Richard Bain and Raj Bakhru discuss the next generation of compliance dashboards that you won’t want to miss at JWG’s RegTech conference. (regtechconference.co.uk)
Digital compliance
The pace and depth of regulation is breaking the traditional model for compliance, but new digital tools are emerging to fill the void.
Through DLT, compliance is being tokenized, workflows are being certified, clients credentialled and new economic activity stimulated – all with regulatory transparency.
In this episode, Dan Doney and Nick Idelson spell out what this means for the markets and articulate a compelling vision for the next generation of RegTech and SupTech that you won’t want to miss at JWG’s annual conference. (regtechconference.co.uk)
Staying in control of a digital age
Nobody has been further out in front of the financial industry’s data needs than Francis Gross, who works at the ECB but agreed to speak to us in a personal capacity.
We invited him to share his perspectives on the big measurement problems for regulators in a digital age. He shares his insights into a new theory for overseeing the financial system and we explore how ACTUS and CDM fit in. Make sure you register for our annual conference to get a glimpse of the future before it hits Davos!
Implementing RegTech control solutions
Faced with mounting fines, banks are digitizing their regulatory obligation management process. Horizon scanning has leapt to the fore as one of the core capabilities required to achieve the holy grail of ‘end to end’ solutions that prove to regulators that business is being done right.
But getting many silos to map their controls to the same horizon is not as straightforward as it might sound. Niek Delis and Peter Vissers from ING join to discuss what it takes to deploy next generation data feeds like JWG’s RegDelta and control solutions like Sparq. The group cover technical pitfalls and describe the success they have had in winning over key stakeholders to their approach.
Digital surveillance of democratized finance
The democratization of finance has forced global regulators to shine their spotlights on market abuse. In September, Mass Mutual was fined $4m for failing to detect 250 hours of YouTube videos related to GameStop that were outside their surveillance perimeter.
Firms are rethinking the breadth and depth of their surveillance programmes and wrestling with thorny ethical and privacy issues. Technology and data vendors are not exempt and there is a big opportunity to get a trusted and integrated surveillance risk framework in place for the industry. For more, register at www.regtechconference.co.uk
RegTech from horizon to controls
Fixing the disjointed nature of regulatory control management has become an imperative for regulators and their patience is wearing thin. Huge volumes of detailed new rules has created an army of ‘horizon scanners’ who struggle to work across the silos and auditors are often disappointed with the resulting controls.
NextGen RegTech control solutions are available in the market who can introduce ‘end to end’ solutions. However, buyers need to wary of some AI salesmen that promise the world but can’t deliver a system that meets all business needs. We also need joined up thinking across the tribes – including the firms, regulators and RegTech suppliers.
NextGen SupTech reporting
Regulatory reporting is moving out of the backwater and into the limelight. New tooling is here and leaders are deploying it now just as regulators are losing patience with data quality and issuing another round of large fines. SupTech strategies and RegTech are meeting at a critical moment – listen in as the experts discuss their key issues and what they would like to learn from supervisors, firms, accademia, trade associations and suppliers at JWG’s annual conference. Register today at: regtechconference.co.uk
NextGen RegTech meets SupTech - Virtual Conference sneak-peek
NextGen RegTech meets SupTech
We're honoured to unveil a great cast of global regulators, academia, firms and suppliers discussing the next generation of #RegTech #SupTech at JWG's annual 16/17 November 2021 conference. Visit https://regtechconference.co.uk/ Free to attend by Senior managers from financial institutions & regulators and academics
MiFID III & Digitalizing markets
Cries for faster, better, and cheaper access to financial services by millions of investors have shaken the markets this year. MiFID II’s market infrastructure regime is being rethought on both sides of the channel while US rules are debated. We asked 3 market experts about the market politics, process and priorities for the UK, Europe and the US. One thing is agreed: collaboration across public and private sector institutions is required to translate divergent political objectives into detailed, digital standards which reduce friction for the end investors. JWG welcomes the opportunity to host further joint working groups across the channel and pond!
Approaching the CBDC border
CBDCs are now under central bankers’ microscopes as they explore ways to improve digital commerce, reinforce systemic resilience and preserve the foundational role of fiat money in global finance.
Emerging technology for digital identities, fraud detection and other elements of a robust payment solution can be a part of digital foundations for new systems that digitize complex cross-border payment systems.
How close are we to CBDC becoming reality and what will it take for that to happen?
Digital solutions for new culture audits
5 years since introducing senior management regimes, global regulators are mandating front-office culture audits which apply behavioural science to new culture and conduct measurement.
In this episode, 2 authors of the definitive Culture Audit book (http://www.koganpage.com/cafs) join forces with RegTech and legal leaders to explain the key digital insights required for senior management and Compliance to pass the new test.
Modelling behavioural norms and expected outcomes is difficult for analogue tooling, but the good news is that it more cost-effective to adopt the new methods required.
Guests:
Alan Blanchard, Apiax (former FCA)
Dr. Roger Miles, UK Finance Conduct and Culture Academy
Sam Tyfield, Partner, Shoosmiths
Elizabeth Arzadon, psychologist, and MD of Kiel Advisory Group (former APRA)
Democratizing markets
Cries for faster, better, and cheaper access to financial services by millions of investors have shaken the markets this year.
In this episode, Jackson Mueller, Sam Tyfield, and Richard Bain lock horns over how well the current FS infrastructure works today for retail investors, what digitalisation is required most, and what it will mean in the medium term.
We conclude that retail demand will lead to upgrading legacy post-trade infrastructures to create trust. Is this a case where market forces may just be strong enough to sort out the technology without a regulatory mandate?
Digitizing derivative reporting with DRR
Rachel Wolcott takes the chair to talk to Deutsche Bank, JWG and Regnosys about the industry’s ground-breaking collaborative effort to get derivatives trade reporting right.
The group explains how the financial services industry is rolling up its sleeves to digitize an analogue process and meet new quality standards demanded by CPMI-IOSCO CDEs.
By 2022 the sector will be completely transformed by new digital standards with EMIR Refit and CFTC common domain models by the end of 2021
This collaboration sets the new digital blueprint for regulatory reporting. If your job touches data and derivatives, you can’t afford to skip this one!
ISLA CDM – safe, cheap, digital innovation
In this episode, Andrew Dyson, Adrian Dale, and David Shone joins us from ISLA to discuss their sector’s implementation of a clause library and common domain model.
By reducing legacy process and technology friction, these new tools reduce cost and enable business innovation at speeds unfathomable today. They also have huge supervisory benefits as SFTR and CSDR data quality will soon be assessable via CDM standards, developed collaboratively by the sector.
This is big change. We discuss the opportunities, threats and what’s in store for the regulator, regulated and their technology suppliers.