Regulatory Updates

By 2021, we were well into the pandemic. With quarantines still impacting many parts of the world, both retail investment and social-media engagement accelerated within many demographics.

En el vertiginoso mundo de la tecnología y la regulación, los reportes regulatorios son una pieza fundamental para garantizar transparencia en las operaciones de las entidades financieras.

In just over a month, the Federal Reserve Board’s (FRB) 2024 regulatory changes for foreign banking organizations (FBOs) with one or more entities (US branch, agency, and non-bank subsidiary) go into effect for FFIEC 002 as-of reporting. In another six months, they are once again under the gun, only this time for FR Y-7 annual reporting at the end of December.

The shift towards granular data reporting (GDR) in Asia-Pacific represents a significant evolution in the regional regulatory landscape as well as a reflection of global trends and the recognition of the power of data-driven oversight and enhanced-transparency evident in the European Central Bank standardization and harmonization of reporting requirements...

The shift towards granular data reporting (GDR) in Asia-Pacific represents a significant evolution in the regulatory landscape in the region, while also reflecting the global trend towards data-driven oversight and enhanced transparency.

After the massive overhaul of some of its most critical requirements – Basel Capital Adequacy Reporting (BCAR), Pillar 3, Leverage Requirements Return (LRR), and new credit risk (NCR) – in 2023, the Office of the Superintendent of Financial Institutions/Bureau du surintendant des institutions financières (OSFI/BSIF) has new initiatives for Canada’s federally regulated financial institutions (FRFIs).

Banco Central do Brasil’s (BACEN/BCB) adaptation of the International Accounting Standards Board’s (IASB) International Financial Reporting Standards (IFRS 9) is set to go live in January 2025.

In the fast-paced world of technology and regulation, reporting is a cornerstone for ensuring transparency into the operations of financial institutions. However, creating and maintaining these reports can be an expensive and resource-intensive undertaking for institutions, particularly in terms of complying with ever-evolving regulatory requirements or meeting client-specific needs.

The global theme of standardization takes another important step forward as the European Banking Authority (EBA) asks banks to homogenize the way they calculate capital requirements for operational risk and produce more granular quarterly reports. The BIC requirement goes live on January 1, 2025, with first reporting on March 31, 2025 for EU reporting entities subject to Capital Requirements Directive (CRD) IV and new Capital Requirements Regulation (CRR3) reporting requirements.

Saudi Arabia has been heavily investing in the Kingdom’s infrastructure, local talent, and entrepreneurs to position itself as a leading fintech hub since 2018, when the Saudi Central Bank, Saudi Arabia Monetary Authority (SAMA) and the Capital Market Authority (CMA) launched the Financial Sector Development Program (Fintech Saudi).

Expected to come into force in mid-2024, the proposed changes to the SEC Customer Protection Rule 15c3-3 require 50+ firms to calculate reserve requirements for customer and proprietary accounts of broker-dealers (PAB) daily and, as a result, maintain sufficient cash and/or qualified securities in the designated Special Reserve Bank Accounts as of each new computation date.

To comply with the SEC’s significant changes to shareholding disclosures rules for substantial shareholding (SH) and short selling (SS), institutional investors have a lot of work to do. The aggressive compliance timeline starts on February 5, 2024 and extends throughout the year. To meet these milestones, firms need to immediately formulate a strategy.

It is important for firms to consider defragmenting, simplifying, and consolidating especially now when there are so many unknowns dominating the “new norm”’ world we inhabit, and the “departures board” is full of regulatory changes in flight.

Connecting Calypso and AxiomSL can accelerate Basel implementation projects — a hot topic as firms must act rapidly to cope with the compressed timelines for Basel IV compliance. Read about how Adenza’s connectors make the critical difference that will enable firms to efficiently address the new Basel rules.

With the US NPR’s July 1, 2025 go-live already looming, it will be challenging — especially for Category III and IV banks — to calculate the newly required risk analytics and implement its complex calculation rules. As part of their impact assessments, financial institutions need to dig deeply into its Market, Credit, and CVA requirements from a risk analytics perspective to thoroughly plan and ramp up their preparedness.

Central Bank initiative for prudential supervision and monitoring of all FX transactions for regulated banks in the Philippines.

The environmental, social, and governance (ESG) trend takes another step, this time not to another region but instead to augment the current ESG Pillar 3 regulation with the eXtensible Business Reporting Language (XBRL) disclosure requirement. The mandate goes live in Q1 2024 for large credit institutions with EEA regulated market-listed securities, with a reference date of 31 December 2023.

As a complement to the standard ISDA SIMM harmonization used by all market participants to calculate the IM, the approval of models is now coming into picture “to ensure initial and ongoing validation of those risk-management procedures.”

While the European Union has been leading on ESG initiatives – EU Taxonomy, Pillar 3, and Sustainable Finance Disclosure Regulation (SFDR) – the impact of climate change does not recognize borders, and so climate-risk assessment is becoming increasingly vital around the world.

US Regulators Issue Basel III Endgame NPR Ushering In a New Era for Capital Management and Reporting

The environmental, social, and governance (ESG) trend — supporting corporate and individual demand to better quantify and understand the impacts of our actions on the planet — continues its march around the globe.

Rude awaking re liquidity stress testing post the SVB crisis.
After the recent shocking wake-up call, bankers and regulators alike are preparing for the post-banking crisis world. Market participants in the US are asking themselves if Reg YY’s call for liquidity stress testing (LST) is enough? Read here to learn about 12 factors that comprise a robust, data-driven LST solution.