With DORA’s deadline fast approaching, financial services and their tech partners are in a countdown to meet Europe’s most rigorous resilience standards. In “Deadline DORA,” we explore how global technology suppliers are preparing to shoulder DORA’s compliance load, redefining the supply chain into a resilient partnership model that meets strict ov…

RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities. Failing to address your organization’s digital resilience before the deadline could result in serious regulatory fines, reputational risk, supplier conflicts and even criminal liability. But regulatory regimes, norms andenforcem…

In the wake of significant IT failures and looming regulatory deadlines, operational resilience has moved to the forefront of boardroom agendas. RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities. Failing to address your organization’s digital resilience before the deadline could…

In the wake of significant IT failures and looming regulatory deadlines, operational resilience has moved to the forefront of boardroom agendas. RegCast Season 5 offers a deep dive into the evolving landscape of risk management asdictated by regulatory authorities. In this episode, Sam Tyfield, a financial services lawyer, and PJ Di Giammarino, CEO…

In the wake of significant IT failures and looming regulatory deadlines, operational resilience has moved to the forefront of boardroom agendas. RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities. This season is a must-listen for financial industry professionals who need to under…

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…

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. Thisis a big step up for firms amongst a …

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 f…

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 instituti…

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 ar…

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…

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-bas…

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 numerou…

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 expe…

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…

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 consume…

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 s…

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 ar…

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 Tho…

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 …

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 …

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 ma…

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…

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 purp…

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 …

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 as…

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…

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 …

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 backgr…

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 t…

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 ti…

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 comp…

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 2…

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 w…

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…

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 …

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 r…

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 institu…

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 …

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 deb…

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,…

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-w…

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 …

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 …

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 horiz…

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…

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 solution…

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 wh…

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…

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. …