A Year of Change

We kicked off the year with the successful delivery of the NoA UPI in January and the long-anticipated JFSA Rewrite on 1 April. It's been a strong and satisfying start to the year. Next up is the EMIR REFIT on the 29 April for Europe - followed by the EMIR UK Rewrite in September, and of course, the ASIC and MAS rewrites in October.

Moving away from regulatory changes and updates, we've seen that firms are not just thinking about the bare minimum when it comes to their regulatory reporting. Getting it right, across all metrics and processes, is becoming a priority for the market. This is excellent news, because better and more timely regulatory reporting can only benefit financial institutions' operational and reporting processes.

As the market thinks about how to enhance regulatory reporting overall, firms are still looking to understand how to best handle delegated reporting in dual sided regimes. Clients are grappling with deciding between delegating or self-reporting, and the multiple refits and rewrites is bringing this matter sharply into focus.

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This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.