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[Regulatory news 📰] The EBA updated their website to reflect the latest plans for Reporting Frameworks 3.5, 4.0, 4.1, and 4.2. However, the tentative plan for FRTB’s integration into #CoRep with 4.0 is probably already out-of-date given the European Commission’s announcement on June 18 of a one-year delay in the application of the new market risk rules (to January 1, 2026). > View the EBA reporting framework: https://hubs.la/Q02CQrKP0 > Read the European Commission's announcement on FRTB: https://hubs.la/Q02CQ5vS0

The Financial Conduct Authority has released Market Watch 81, which focuses on the root causes of transaction reporting. The UK regulator says that while data quality has improved, it continues to identify incomplete and inaccurate transaction reports. "We have seen data quality issues persist and reoccur even after the issue has been identified and allegedly remediated by a firm...Our findings indicate that reporting issues are often caused by weaknesses in change management, reporting process and logic design, data governance, control framework governance and oversight and resourcing." At Kaizen, our ReportShield quality assurance solutions are designed to directly address these issues, combining advanced technology with subject matter expert support, to give you and your senior management confidence that you are meeting the regulator's expectations. Contact us for a demo or for a conversation with one of our regulatory experts: https://lnkd.in/etSuDkK3 Read the latest Market Watch: https://lnkd.in/eKdBRZXY #fca #mifid #mifidii #mifir #transactionreporting #dataquality

🔍 My Key Takeaways from PwC's #Regulatory #Reporting of the Future event in Frankfurt Last Monday the European Regulatory Reporting community came together in a wonderful event hosted by PwC Deutschland in Frankfurt. It was a great opportunity to get some key learnings from industry leaders and supervisors in the niche that is regulatory reporting for banks! Let me share some thoughts on what I personally take away from this conference: 1. Granular Reporting is the Future: The objective of granular reporting is to get as close as possible to the way banks look at their own products, clients, collateral processes,....This shift not only enhances accuracy of reporting but can also be leveraged for improving effectiveness of risk management at a granular level. 2. Collaboration is Key: The move towards a 'define once, report once, regulate once' framework is gaining momentum. This will require an intense collaboration between the industry and the supervisory/regulatory bodies to ensure we get it right. 3. The Role of #BIRD: As explained by Antigoni Kallergi at the #ECB, BIRD can be a transformative bridge between regulators and banks. We see more and more banks that are joining the working groups and that see BIRD as a strategic enabler. It offers a consistent data model that can integrate granular and template driven reporting, helping clarify data definitions across the board. 4. The Regulatory Reporter of the Future: Future regulatory reporting will require people with robust technical skills, including data modeling and AI. Breaking down silos within banks and adopting open-source solutions will be essential to efficiently meet the challenge. 5. Strategic Importance of Data Governance: With C-level support, data should be at the center of an improved streamlined architecture. Clear data ownership and governance at a granular level are non-negotiable for success. 6. #BIRD and #IReF as a Blueprint: Although different levels of granularity will continue to exist for now (granular & template driven reporting), the combination of #BIRD and #IReF has the potential to revolutionize template driven reporting. This could eventually lead to the decommissioning of traditional template-based systems, offering significant efficiency. 7. Challenges for decentralised complexity: Implementing these changes can be complex, especially for processes and data that is more decentralised, but the opportunities for innovation and efficiency are immense. Let's embrace the journey towards a more integrated and efficient regulatory reporting landscape! 🚀 Many thanks to the entire team PwC Deutschland for hosting and specifically my dear colleagues Martin Neisen Christoph Himmelmann Michael Britze Fayaaz Adalat Petr Novák for your excellent presentations. #RegulatoryReporting #PwC #Data #BIRD #IReF

#news EBA unveils implementation plan for data point model 2.0 At the start of June the European Banking Authority (EBA) announced its plan for implementing the Data Point Model (DPM) 2.0 as part of its Reporting Release 4.0 framework. This important initiative helps progress towards more integrated regulatory reporting, and is aimed at enhancing data granularity and improving data management practices. The transition to DPM 2.0 follows the introduction of a new DPM data dictionary format in 2023. Set to roll out in 2024, the updated model promises several key benefits: better integration, improved versioning of data definitions, and clearer data relationships. To ensure a smooth transition, the EBA has established a transitional period extending to December 2025, during which both the old and new models will be operational. The new semantic glossary and technical documentation will accompany the framework release 4.0, providing comprehensive support for reporting institutions. The final technical package for Release 4.0 is expected in December 2024, with a preliminary version available by October 2024. By December 2025, the EBA will fully transition to the xBRL-CSV reporting format, phasing out the old DPM and glossary. #EBA #DPM #reporting #xbrl #data https://lnkd.in/g_zDEXG5

[CASE STUDY] Enhancing #data governance with #BCBS239 Check out this very interesting case study where we supported a leading organization in meeting regulatory requirements and boosting its data maturity. • Objectives: assist the organization in responding to BCBS239 #regulatory requirements by developing and implementing a comprehensive data governance and data quality framework roadmap. • Challenges: navigating the complexities of regulatory compliance while ensuring a significant increase in the organization's data maturity level. Read the case study here 👉https://lnkd.in/eDYzGmsk #regulations #datagovernance #finance #riskmanagement #ICT

Granular data reporting: the secret sauce behind informed decision-making. Sharing this article to shed light on its transformative impact. Don't miss out on understanding how data granularity can revolutionize your strategies! #granulardata #GDR #APAC #regulation #DataAnalytics #DataDriven #BusinessIntelligence #DataInsights #AnalyticsStrategy #DecisionMaking #BigData #DataVisualization #InsightsDriven #DigitalTransformation

Do you work in the financial industry? Are you often required to submit detailed reports to regulators, encompassing everything from financial statements to risk assessments? These reports must be accurate, timely, and compliant with specific regulatory standards such as #BCBS239. BI & Analytics platforms enable organizations to create dynamic reports and dashboards, pulling data from various sources. However, the challenge lies in ensuring that the BI content is error-free and fully compliant with regulatory standards. We look at some of the common issues that occur with reporting and data analytics in the financial industry, and how these can be addressed at scale with automated testing. ➡️ 🔗 https://lnkd.in/e6_QTkdw #financialindustry #compliance #dataanalytics

💻Recent proposals from the FED look to revise the FR Y-14 reports. Find out more about the proposed changes in our recent REG Desk report : https://bit.ly/3A65Drn The proposals also entail efforts to collect more granular data from firms, matching a trend, which are seen increasingly around the world. ◾Granular Data Reporting is a new paradigm in reporting, requiring new ways to manage, view and approve data ◾With the right toolset, this can also present opportunities for firms to gain additional insight and value from their regulatory reporting 🏆AGILE provides a number of modules that already helping firms around the world meet the challenges of granular data reporting including our latest AGILE Insight, find out more here : https://bit.ly/4dkWzxz #regtech #regulatoryreporting #FED #granulardatareporting #GDR

As regulatory expectations surge and data management technologies evolve, the financial industry is witnessing a seismic shift towards robust, data-driven reporting frameworks. Across regions and jurisdictions, diverse approaches and timelines have emerged to meet the escalating demand for granular data reporting, signalling a profound transformation in regulatory practices. Keen to understand the details of this transformative shift? Dive into our insightful commentary by OneSumX regulatory experts Mithy Vaishali and Swati K.. In this piece, we navigate the complex regulatory reporting landscape, shedding light on how granular data reporting can empower financial institutions to not only navigate but thrive in today's dynamic regulatory landscape. Read the commentary here: https://bit.ly/43mCkLz #GranularDataReporting #GDR #RDT #HKMAGDR #BECRIS #AnaCredit #RegulatoryReporting #RegulatoryCompliance #WoltersKluwer #OneSumX

Authority Software Limited 🚨 Get Ready for the EBA’s Pillar 3 Data Hub Reports! In March 2025, the EBA will launch its new Pillar 3 Data Hub Reports, setting a new standard for risk and capital disclosure across the EU.   What Is Required? The new Pillar 3 reports demand detailed, standardized disclosures covering areas such as: Risk profiles (e.g., credit, market, and operational risks) Capital adequacy and liquidity Environmental, Social, and Governance (ESG) risks Key metrics that demonstrate resilience under regulatory scrutiny   These disclosures must be submitted in XBRL format and comply with the EBA’s DPM 4.1 taxonomy.   How to Prepare 💡 Use DPM Authority to simplify the process: ✅ Automate data preparation and XBRL generation ✅ Validate your reports to ensure compliance ✅ Save time and resources while meeting regulatory deadlines   Learn more and get started: https://lnkd.in/gDa-Y52Q   #RegulatoryReporting #Pillar3 #EBA #XBRL #Compliance #P3DataHub