The current RegTech landscape spans the technological spectrum from static data processing and reporting solutions to dynamic real-time transaction monitoring platforms. RegTech companies utilize emerging technologies such as machine learning, data analytics, artificial intelligence, cloud computing, biometrics, blockchain, cryptography, and many others to deliver solutions that enable faster, more accurate, and less labor-intensive compliance for various financial regulatory regimes.
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Qualified Financial Contract (QFC) Recordkeeping Rules – Avoiding Reconciliation Delays and Legal Uncertainties During Bank Failures
Following the collapse of Lehman Brothers in 2008, the Dodd-Frank Act granted the FDIC Orderly Liquidation Authority (OLA) powers to serve as the receiver of a complex financial institution and prevent counterparties from terminating Qualified Financial Contracts (QFCs) with the firm. This paper examines some of the specific reporting rules put in place to enable a rapid reconciliation of QFCs under the OLA.
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Non-Financial Regulatory Reporting: The Growing Challenges Facing Financial Services Firms
One of the largest areas of regulatory growth since the financial crisis has been in the area of Non-Financial Regulatory Reporting (NFRR). Three key challenges for firms going forward will be: coordinating NFRR efforts across the firm, establishing robust data governance, and managing reporting requirements that vary across time and jurisdictions.
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Financial Services Firms Solving Complex & Expensive Records Retention Rules
Records retention strategies for Wall Street broker-dealers are being challenged by existing and new regulations that require an increasingly large amount of complex transactional data to be stored for longer periods. Helping to meet this challenge are new technologies that can reduce the total cost of ownership while meeting the requirements of the law.
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Embracing Financial Services Modernization Through Robotics Process Automation
Global financial services firms face an increasingly complex business and regulatory environment and are constantly in search of ways to streamline operations and reduce costs. Recently, robotics process automation (RPA) has emerged as a viable technology platform that will provide companies with an alternative to labor arbitrage to realize significant cost reductions in the automation of once manual processes.
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Reshaping the Financial Services Industry through Distributed Ledger Technology
Within the financial services and technology industry, it is hard to go a single day without hearing, speaking, or reading about blockchain and cryptocurrency technology. While it is easy to dismiss this technology as a passing fad given its meteoric rise, it is prudent to understand what it enables and how it can be applied within the financial services industry.
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