FinTalk by VERMEG

From recent research, 50-70% of a firm’s annual change budget is spent on regulatory change - could the growth of comprehensive RegTech solutions impact that for the better?

Peering into the future of how RegTech can be used more efficiently, we hear from Grant Thornton UK LLP’s Niresh Rajah, and welcome back a former guest on the show, Alan Blanchard.

This episode of The VERMEG podcast covers:

• How to reframe RegTech as an area of value creation rather than simply cost
• Using technology to ensure consistent compliance and assist horizon scanning
• Reducing manual work to introduce meaningful cost savings
• How the Bank of England transforming data collection changes the landscape for firms

When regulatory reporting is a burden and cost shared by all, it’s an area ripe for collaboration, and one growing movement to make that happen is that of open source software.

Instigating that evolution is FINOS, and their CTO Jane Gavronsky joins us on FinTalk to discuss the virtues and value in both open source principles and the culture surrounding it.

We also hear from our own Global Head of Regulatory Product, Malcolm Arnold, about the potential future implications and who needs to drive the buy-in to open source projects.

This episode of The VERMEG podcast covers:

• The basics of what open source is
• How culture plays a role in the success of open source
• Ways in which open source software can help with governance, controls, and data lineage
• Who needs to drive the movement for open source

A new calendar year is nearly upon us, and with a new Prime Minister comes governmental change that could easily affect the trends and patterns emerging in UK regulation.

Joining us on FinTalk to clear the fog on the horizon and look at what the industry may have in store, we hear from Gavin Stewart - Director at Grant Thornton LLP - and a returning guest, VERMEG’s Hanbury Hampden-Turner.

We hear how Big Bang 2.0 indicates a sharp change in direction, why shifts may be slower than expected, the overarching themes surrounding market risk, and much more.

This episode of The VERMEG podcast covers:

• The biggest changes we’re likely to see with the new governmental direction
• Patterns forming with ESG-based policy and legislation
• Overarching themes around market risk, more granular data and temporary measures becoming permanent
• How firms might guide their client base through the cost of living crisis

VERMEG: https://www.linkedin.com/company/vermeg/
Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/
Gavin Stewart: https://www.linkedin.com/in/gavinbstewart/
Grant Thornton UK LLP: https://www.linkedin.com/company/grant-thornton-uk-llp/
Hanbury Hampden-Turner: https://www.linkedin.com/in/hanbury-hampden-turner-16004514/

FutureFit Regulatory Conference: https://www.vermeg.com/event/futurefit-2022-regulatory-conference/?utm_source=linkedin&utm_campaig=post-2 

One year on from the Dear CEO letter emphasising the need for investment and focus on regulatory reporting, where should firms’ reg reporting systems be now, and what might the future hold?

This week on FinTalk, MCO’s Richard Pike and Paul Manson weigh in on the progress that’s expected of firms in response to the letter, ideal methods to focus firms’ investments into regulatory reporting systems, and next steps to bring regulatory reporting alongside financial reporting.

This episode of The VERMEG podcast covers:

• How MCO have been processing and dealing with the Dear CEO topics
• The key link being made between the standards for financial reporting and regulatory reporting
• Where firms should be now, having had a year to process the letter
• Advice for firms looking at setting a target operating model, and where they could invest

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Paul Manson: https://www.linkedin.com/in/paul-manson-032a9a3/

Richard Pike: https://www.linkedin.com/in/richardpikestir/

MCO: https://www.linkedin.com/company/mycomplianceoffice/
               https://mco.mycomplianceoffice.com/

It’s been a few months since our last look at the regulatory landscape in the wake of October 2021’s Dear CEO, and with many regulations taking form and becoming more tangible, it’s a perfect time to rendezvous with our first guest on the podcast, James Phillips.

James, VERMEG’s fantastic Regulatory Strategy Advisor, has his finger on the pulse of 6 key areas in regulatory reporting, from cryptocurrency and its interesting connection to ESG, increasing regulation around digitisation, and much more.

We’re also looking ahead to the VERMEG Regulatory Reporting Conference on the 28th of September, so keep your eyes peeled on the VERMEG website to sign up.

This episode of The VERMEG podcast covers:

• Cryptocurrency’s regulation, and considering the unlikely link to ESG
• Digitisation and the Strong & Simple regime
• Developments in UK Divergence
• Other topics set to become key areas tackled at our upcoming Regulatory Reporting Conference

Register for the conference here: https://mta.vermeg.com/l/197/regreporting2022?utm_source=fintalk&utm_campaign=regconference2022

VERMEG:
https://www.vermeg.com/
https://www.linkedin.com/company/vermeg/

Jawad Akhtar:
https://www.linkedin.com/in/jawad-akhtar-313562b/

James Phillips:
https://www.linkedin.com/in/jamesphillips2/

Collateral optimisation is set to be a hot topic for the years to come, with a newfound focus on automation and efficiency. This makes the mastery of your systems and processes absolutely vital.

VERMEG’s Wassel Dammak brings us a look into the tools and methods through which this can be achieved, bringing COLLINE, machine learning and artificial intelligence to the forefront of the conversation.

This episode of The VERMEG podcast covers:

• How collateral optimisation can enable automation and efficiency by pledging the optimal collateral
• Considerations around constraints, be they legal, operational, or business constraints
• COLLINE’s email extractor, and how machine learning/artificial intelligence can help streamline processes
• Horizon scanning, and where technology will solve impending challenges

Digital assets and cryptocurrency is a growing phenomenon, for which current regulatory standards aren’t yet fully tailored. So what risks should we be aware of with these assets?

We pick through NFTs, stablecoins and digital assets with Barney Reynolds, Partner at Shearman & Sterling LLP, breaking down the volatility we’re currently seeing, and how soon we might expect the Treasury and FCA to share their approach.

This episode of The VERMEG podcast covers:

• How the UK’s regulators are likely to become thought leaders in handling and regulating digital assets
• Whether the approach to cryptocurrency will be more akin to a currency or a financial investment
• The transparency necessary to avoid crypto becoming the instigator of another 2008-style financial crisis
• A potential timescale on which we’ll see regulators respond with an implementation timeline

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Barney Reynolds: https://www.linkedin.com/in/barnabas-reynolds-financiallawyerlondon/

Shearman & Sterling LLP: https://www.linkedin.com/company/shearman-&-sterling-llp/

With the introduction to ECMS in late-2023, it’s high time to consider whether you’re ready for the new, unified approach to managing collateral assets.

If you need to brush up on what to expect from these changes, and what you can do to best prepare, Ferdinand Peelen is here on FinTalk to break down the system, who’s affected, and how to be ready for its introduction.

Ferdinand talks us through VERMEG’s proud involvement in creating the ECMS system, and the tools we’ve created to assist firms looking for a solution to comply with the new regulations.

This episode of The VERMEG podcast covers:

• Implications of the ECMS implementation
• Who is potentially affected by the introduction of ECMS, and to what extent
• How VERMEG’s ‘EASY Collateral’ is built to tackle the regulation changes
• A timeline for where you should be on the path to adapting your systems

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Ferdinand Peelen: https://www.linkedin.com/in/ferdinandpeelen/

As we lead up to the new financial year, it’s a perfect time for some horizon scanning, particularly with the quantity of sizable changes we’re seeing in regulatory reporting.

Hanbury Hampden-Turner is our Head of Regulatory Product in Europe, and is tasked with interpreting the new rules on a global basis. We draw on Hanbury’s expertise this week as we cover recent developments in IFPR, CRR2, IFRS9, the move to BEEDS, and much more.

This episode of The VERMEG podcast covers:

• How changes to the calculation of key ratios and credit risk will affect regulatory reporting
• Implications of the move from XML to XBRL
• The biggest statistical reporting changes in decades, as we move towards wider implementation of BEEDS

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Hanbury Hampden-Turner: https://www.linkedin.com/in/hanbury-hampden-turner-16004514/

The future of RegTech holds great promise for those looking to automate their regulatory reporting, allowing businesses to grow faster with less manual input, and a shining example of this comes from Apiax’s world-leading systems.

Apiax’s Alan Blanchard joins Jawad Akhtar on FinTalk to give us a look into how these automated systems are being constructed & implemented, how we can encourage steady implementation of innovative RegTech, and where the UK’s efforts to streamline regulatory reporting stack up against the rest of the world.

This episode of The VERMEG podcast covers:

• How the UK’s progress on machine-readable rules stacks up against the rest of the world
• Ways in which the pandemic has accelerated digital transformations
• The challenges behind regulators and regulated companies together with an autonomous system

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Alan Blanchard: https://www.linkedin.com/in/blanchardab/

Apiax: https://www.linkedin.com/company/apiax/
https://www.apiax.com/