July 2015 marked five years since President Obama signed the Dodd-Frank bill into law. We would like to acknowledge the anniversary by taking an objective look into the impacts of the mandate forged in the aftermath of the 2008 financial crisis in an effort to reform the financial services industry. Here, we outline the major objectives of Dodd-Frank and some of its impact to date, as well as highlight how MCG can help your firm fine-tune its strategy to meet regulatory requirements.
Read MoreA Monticello Consulting Case Study for Improving Data Quality, a Regulatory Reporting Mandate
For over three years, Monticello Consulting has been actively engaged in the swaps industry, partnering with our swap dealer clients to remediate data quality issues and to improve the acknowledgement rates for the trades associated with real-time reporting. See how we helped one client build a suite of tactical tools to solve these issues.
Read MoreImplementing Dodd-Frank and EMIR Regulations for OTC Swap Market Participants
Regulatory changes impacting the OTC derivatives markets, as introduced by the Dodd-Frank Wall Street Reform and Consumer Protection Act in the United States and the European Market Infrastructure Regulation (EMIR) in Europe, are reshaping the way dealers and end-users leverage these instruments for risk hedging and trading activities. Take a look at some of the impacts here.
Read MoreRegulatory Reporting Testing Governance
Monticello’s implementation of a testing governance solution helped our client meet new regulatory reporting requirements on time in the face of short deadlines.
Read MoreDodd-Frank Reporting: Live Positions Migration for Money Center Bank
As part of the Dodd-Frank Wall Street Reform legislation, our client was required to backload live position data to the DTCC's Global Trade Repository (GTR) across several asset classes. Monticello Consulting Group helped them assemble a team to coordinate and execute the backload of all live positions from various front office systems into an internal rules validation system, and further into the industry-wide trade repository. The team developed a custom process to test, execute, and validate end-to-end results of this effort for two successive compliance dates.
Read MoreSwaps Regulation
As the rules pertaining to swap dealer registration under Title VII of the Dodd-Frank Wall Street Reform Act (“Dodd-Frank”) are now finalized, swap dealers (SDs) and major swap participants (MSPs) are now required to register with the SEC and/or the CFTC to continue trading on behalf of “US persons” (i.e. US-based clients). Across Wall Street, Monticello Consulting is seeing its investment banking clients undertake time-critical projects in order to make significant changes to both their business processes and technology platforms in order to comply with Dodd-Frank rules.
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