Benchmark Strategies to Comply with Data-driven Regulations At FIMA Europe 2024
AIFMD (Alternative Investment Fund Managers Directive): Imposes reporting requirements on alternative investment fund managers, including data related to risk management and liquidity.
AML/CFT (Anti-Money Laundering/Countering the Financing of Terrorism): Mandates customer due diligence and transaction monitoring to detect and prevent money laundering and terrorist financing activities, involving significant data analysis.
Basel IV: Includes data requirements for risk measurement and reporting to ensure the stability of the banking system.
BCBS 239 (Principles for effective risk data aggregation and risk reporting): Sets out principles for robust risk data management and reporting to enhance risk management capabilities.
BMR (Benchmarks Regulation): Regulates benchmarks used in financial instruments and contracts, including data provision and oversight requirements for benchmark administrators.
BRRD (Bank Recovery and Resolution Directive): Establishes requirements for recovery and resolution planning for banks, involving data-related aspects such as resolution data requirements and reporting.
CRD IV (Capital Requirements Directive IV): Implements prudential requirements for banks and investment firms, including data-related provisions for risk measurement and reporting. • CRR (Capital Requirements Regulation): Includes data-related provisions for capital adequacy calculations and risk reporting for banks.
CSDR (Central Securities Depositories Regulation): Introduces requirements for central securities depositories (CSDs) and securities settlement systems, including data reporting and transparency obligations.
EBA Guidelines on ICT and Security Risk Management: Issued by the European Banking Authority (EBA), provides guidance on the management of information and communication technology (ICT) and security risks, involving data protection and cybersecurity measures.
EBA Guidelines on Outsourcing Arrangements: Provides guidance on outsourcing arrangements in the financial sector, including data-related considerations for outsourcing agreements and risk management.
EIOPA Guidelines on Governance Requirements for Insurers: Issued by the European Insurance and Occupational Pensions Authority (EIOPA), provides guidance on governance requirements for insurers, including data governance and management aspects.
EMIR (European Market Infrastructure Regulation): Requires reporting of derivative transactions to trade repositories, ensuring transparency and risk monitoring in derivatives markets.
ESMA Guidelines on Transaction Reporting, Order Record Keeping, and Clock Synchronization: Issued by the European Securities and Markets Authority (ESMA), provides guidance on transaction reporting, order record keeping, and clock synchronization requirements for investment firms, impacting data recording and reporting
FATCA (Foreign Account Tax Compliance Act): Requires financial institutions to report information on accounts held by U.S. taxpayers to the IRS, impacting data management and reporting processes.
FRTB (Fundamental Review of the Trading Book): Introduces revised standards for market risk capital requirements, including data requirements for risk modeling and calculation.
GDPR (General Data Protection Regulation): Governs the protection and processing of personal data, impacting how financial institutions handle customer information.
IFRS 9 (International Financial Reporting Standard 9): Introduces requirements for classification and measurement of financial assets and impairment provisioning, requiring robust data management and reporting capabilities.
MAR (Market Abuse Regulation): Requires firms to detect and report suspicious transactions and orders, involving data analysis and surveillance to identify market abuse. • MiFID III (Markets in Financial Instruments Directive III): Expected to further enhance market transparency and investor protection, potentially introducing additional data reporting obligations.
MiFIR (Markets in Financial Instruments Regulation): Extends MiFID II requirements and introduces reporting obligations for trading venues and investment firms, including transaction reporting.
NIS Directive (Directive on Security of Network and Information Systems): Requires operators of essential services, including financial institutions, to implement measures to ensure the security of their network and information systems, involving data security and incident reporting requirements.
PRIIPs (Packaged Retail and Insurance-based Investment Products): Requires the provision of Key Information Documents (KIDs) to retail investors, necessitating data collection and disclosure.
PSD2 (Revised Payment Services Directive): Requires banks to open up their data to third-party providers via APIs, promoting competition and innovation in payment services.
SFTR (Securities Financing Transactions Regulation): Mandates reporting of securities financing transactions to trade repositories, enhancing transparency and risk monitoring in securities financing markets.
Solvency II: Imposes data requirements for insurance companies to assess and manage risks, including data on capital adequacy, reserves, and liabilities.
UCITS V (Undertakings for Collective Investment in Transferable Securities V): Imposes data reporting and transparency requirements for UCITS funds to protect investors.
