Challenges faced by market participants include fragmentation, complexity, a lack of regulatory certainty and tight deadlines for data processing. Our Senior Regulatory Reporting Specialist, Jonathan Lee spoke to IFLR at the ISLA conference in Vienna about the securities industry’s call for standardised, simplified reporting requirements.
“We need to think big, but I am conscious that the wheels in the regulatory space tends to move slowly and you need a bit of regulatory jeopardy or some crisis for it to move forward. The Financial Stability Board backing initiatives to put together a new roadmap for reporting globally gives it legs, but there’s a lot to be done and many of us won’t see the finished product during our careers.”
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