The Regulations Working Group will focus on the broader securities market context in Europe and the disruption to business and operating models caused by multiple regulations such as MiFID II (and adjacent measures such as MAR, EMIR, SFTR and PRIIPs) which are impacting practitioner firms and suppliers alike at regional and local levels.
The working group will concentrate on gaps and opportunities that lie outside the efforts of existing industry associations such as the IA, AFME, BBA, FIA/ISDA, FIX etc. and the outputs will be used to provide direction and colour to firms looking to implement against the forward timetable from 2016-18.
Leader: Dr. Anthony Kirby, Director Regulatory Reform and Risk Management, Ernst & Young
Sub-leader: Chad Giussani, Standard Chartered Bank
The ISITC Europe Regulations Working Group invites participation and discussion. The working group takes many forms, from meetings to forums to publishing reports. If you are interested in getting involved with the working group then the best way is to apply for membership either individually or through your organisations membership.
Members may comprise named representatives from eligible participating corporations or eligible individuals registering directly with ISITC Europe. There is currently no limit to the number of persons from a single fully paid up member firm.
ISITC membership enables it’s members to be fully engaged with the group through meetings, discussions, access to reports and taking part in the The Regulations Working Group.
Friday 7th April from 2pm – 3pm
Format: Conference Call
Meeting Notes 10th February 2017
Members who have created a profile should log in to access/download the above presentation and any documentation from the forum.
The Regulations Overview
The key challenges for the ISITC-Europe Regulation Workstream will be to deconstruct a priority regulation like MiFID II, focusing on governance, investor protection, market impacts, reporting/data and third country perspectives to overlap with other ISITC-Europe Working Groups, with a practical view to determining the ‘quick wins’.
Component parts will be evaluated for best fit on a ‘test-bed’ with recommendations for sub-programs of work involving practitioners, suppliers and market infrastructure providers alike. The outputs will be used to provide direction and colour to firms looking to implement against the timetable.
The delivery objective for the Working Group will be to produce an updated version of the Previous White Paper focusing on the business, operational and IT requirements stemming from current European regulatory measures. The output Roadmap/White Paper will continue the previous style, featuring a concise summary of the planned milestones and dependencies as well as planned outputs for each party.
There will be references to coupling with outputs form the other ISITC-Europe Working Groups (e.g. Standards, Markets, Blockchain…) and the over-riding objective will be to deliver a regulatory oversight perspective onto the technical drivers during the 2016-18 timeline. The paper will highlight cost benefits, and point to areas of synergies (e.g. shared solutions to common issues) and opportunities for monetisation, from both the European and third country perspectives.