The scariest regulatory reporting changes facing you this Halloween

It’s Halloween! And what better time to cover off some of the scariest regulatory reporting changes that you need to keep very very close to, following the full-moon…

Quoting Macbeth’s three witches, “By the pricking of my thumbs, something wicked this way comes”, here are three key regulations affecting everyone in the coming months:

In Thunder comes Brexit

31 October was always going to be a horror Halloween show but the EU have prolonged the agony for another three months to 31 January. The good news is that most firms have prepared for the October exit but do keep an eye on any unknown regulatory changes in the coming months – or read our Brexit White Paper to help with your preparations.  

In Lightning comes SM&CR

Ghosting quietly in, don’t forget if you’re an Core or Enhanced Firm, as categorised by the FCA, your CF Approved Persons change to SMFs under the Senior Managers and Certification Regime (SM&CR) on 9 December. Encouraging a culture of taking responsibility for actions and demonstrating a clear understanding of where that responsibility lies, are the key messages. You can’t use a magic wand to sign-off on the accuracy of your regulatory reporting, a key task for your SMFs.

In Rain comes SFTR

As we speak on the day of the devil, SFTR is only 166 days away.  This is frighteningly close.  Are you prepared and testing in UAT for this new reporting regime coming into effect on 14 April 2020? Contacting our very own SFTR expert Jonathan Lee is much less scary than a letter from the regulator.

When the hurly-burly’s done, when the battle’s lost and won, Kaizen is here to help with the most scary of regulatory reporting challenges. Please contact us if you’re worried about any of the above and we can turn your regulatory reporting obligations from a trick to a treat!

Author: Chris Machinbeth