A cursory glance at this handbook’s table of contents reminds us of how many rules we are subject to. New regulations are coming into effect, including some whose key phases or final deadlines were delayed in 2020-21 due to the pandemic; we are also anticipating updates to existing regulations. Managing sensitive data in accordance with a myriad of privacy requirements around the world is a rapidly expanding concern.
Alongside new ESG and Asia Pacific entries, the handbook includes recent regulatory mandates such as the US Corporate Transparency Act and the European Union’s second Capital Requirements Regulation. Other entries are updated to reflect their status, and data and data management requirements.
The A-Team Regulatory Data Handbook demonstrates the magnitude of capital markets regulation on a global scale, raising questions about compliance and how the regulatory regime will pan out over coming months and years. It is important to focus on the potential benefits of closer collaboration between regulators and capital markets participants. Regulating ESG markets as they continue to grow at speed with little containment provides a case in point. While a handful of regulations are in place, there are more less formal approaches to ESG investment management, differences in global intentions, and varying interpretations of issues such as greenwashing.
Technologies such as cloud, machine learning, artificial intelligence, and natural language processing can help ease the pressure on compliance, but to reach their potential they also depend on collaboration between regulators and market participants. As an industry sector, capital markets have a great understanding of the challenges of regulation. With more collaboration between regulators and financial institutions, increased commitment to a revised regulatory regime, and a focus on emerging ESG regulation, solutions to the challenges could be on the horizon.
Compliance can only be as good as your organisation’s data – and access to it. Businesses need a dynamic, sustainable data foundation; flexibility is key, as is overcoming the operational and organisational silos and restrictions of legacy systems and processes.
The answer lies in a lineage-first data management strategy to identify, connect, and visualize data across a business, its departments and functions. Data lineage also promotes data quality – a key attribute for accurate, compliant reporting – by pinpointing problem spots (e.g., gaps, errors, or incorrect uses) and understanding what else they are impacting. Data lineage goes hand-in-hand with metadata management by tracking how data is defined, as well as how and where it flows across the organisation, which is crucial for risk data aggregation, and a requirement on its own for regulations such as BCBS239 and Solvency II.
Beyond compliance (and decreased costs and fines) and better data governance, an end-to-end lineage-first data management program unlocks the true business value behind data. By mapping complex data relationships across the enterprise, it enables organisations to simplify how they identify, access, and understand them. With a reimagined, sustainable data foundation in place, businesses can mine actionable intelligence and solve complex problems to deliver transformational results.
Download the Solidatus sponsored A-Team Regulatory Data Handbook 2021/22 to find out more:
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