Episódios
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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.
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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 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.
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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/
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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.
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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.
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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.
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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 impactthis 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 technologywith Ralf Huber, Co-Founder of Apiax, and Darko Stefanoski, Partner, Law LeaderFinancial Services, EY Switzerland.
Download the paper free here: https://jwg-it.eu/article/uec/
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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".
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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.
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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
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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/
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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/
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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/
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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.
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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/
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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/
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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/
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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/
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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/
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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/
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