ESMA Regulator Archives - Complyportal https://complyportal.uk/category/esma-regulator/ Fri, 14 Feb 2025 09:12:14 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9.1 https://complyportal.uk/wp-content/uploads/2025/02/1cb60d6a-4d86-422b-ae02-1eb3f14631bc_b-100x100.png ESMA Regulator Archives - Complyportal https://complyportal.uk/category/esma-regulator/ 32 32 Supervision and Compliance Challenges in a Digital Age https://complyportal.uk/supervision-and-compliance-challenges-in-a-digital-age/ Wed, 12 Jan 2022 09:54:08 +0000 https://stage.complyportal.uk/?p=14636 Supervision and Compliance Challenges in a Digital Age “Supervisors and regulatory bodies are adapting to the challenges of modern regulation, and ComplyPortal’s Director, Luis Parra, shares his advice for how regulated firms can adapt and keep up with these changes.” By now, ‘fintech’ and ‘regtech’ have become familiar terms within and even beyond the world of financial services—but how familiar are you with ‘Suptech’? Short for ‘Supervisory technology’, suptech is a term that covers the use of technology to support and assist regulatory agencies in their supervisory function. Just as regtech and fintech solutions help businesses and consumers optimise tasks and workflows, suptech works in a similar way to make supervision more efficient and effective—and regulated entities must adapt in order to keep up. Be it access to or management of data, automation, data analysis, or simply the speed that comes with digitising previously manual operations, suptech is creating new standards of supervision and regulation. Using technology allows supervisors to monitor and review the actions of regulated entities in greater detail and at a faster pace. Suptech applications can sift through thousands of regulatory filings and identify potential supervisory issues, whereas it is impossible for supervisors to review each one closely. This enriched capability and insight means firms will be under the microscope like never before, and without equivalent digital solutions of their own, there is a chance they could be caught on the back foot. With regulators increasingly turning to data- and technology-driven supervision, firms must adapt at pace in order to avoid falling behind on compliance demands. Fortunately, it is easier than ever for firms to find the right regtech solution for their needs. There are a plethora of options available on the market; the key is choosing a solution which can be tailored to your firm’s needs and is supported by compliance experts for the most up-to-date information. While this level of change in regulation and compliance might be alarming, it should also be viewed as an opportunity. January is often a time spent reflecting and acting on new ways of operating, either personally or professionally. What better time to review your internal compliance processes and assess if they are ready for the challenges of a new year and a more digital age of compliance and regulation? Discover how ComplyPortal can help you adapt to new and future challenges at: https://complyportal.uk/modules Find Luis’s previous blog post here: Practical Tips for Implementing Compliance Software    About ComplyPortal: First developed in 2011 by compliance professionals for compliance officers, ComplyPortal offers workflow, automation, and several modules to help firms with control and regulatory compliance monitoring. ComplyPortal simplifies financial services regulatory compliance management on an easy-to-use cloud-based comprehensive compliance platform. It enables compliance officers, risk officers and senior management to keep track of their firm’s regulatory responsibilities and workflows. Our platform includes the following modules, among others: Monitoring: a year-round schedule pre-populated with monitoring questionnaires to ease compliance processes. Registers: lists controlled by the Compliance officer, but easy for staff to view. Risk: map and control risk areas to effectively identify and manage risk for your firm. eKYC solution: perform comprehensive searches, including client identity verification, document authenticity, and more for a comprehensive KYC and AML approach   CLICK HERE TO GET STARTED!

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Supervision and Compliance Challenges in a Digital Age

“Supervisors and regulatory bodies are adapting to the challenges of modern regulation, and ComplyPortal’s Director, Luis Parra, shares his advice for how regulated firms can adapt and keep up with these changes.”

By now, ‘fintech’ and ‘regtech’ have become familiar terms within and even beyond the world of financial services—but how familiar are you with ‘Suptech’? Short for ‘Supervisory technology’, suptech is a term that covers the use of technology to support and assist regulatory agencies in their supervisory function. Just as regtech and fintech solutions help businesses and consumers optimise tasks and workflows, suptech works in a similar way to make supervision more efficient and effective—and regulated entities must adapt in order to keep up.

Be it access to or management of data, automation, data analysis, or simply the speed that comes with digitising previously manual operations, suptech is creating new standards of supervision and regulation. Using technology allows supervisors to monitor and review the actions of regulated entities in greater detail and at a faster pace. Suptech applications can sift through thousands of regulatory filings and identify potential supervisory issues, whereas it is impossible for supervisors to review each one closely. This enriched capability and insight means firms will be under the microscope like never before, and without equivalent digital solutions of their own, there is a chance they could be caught on the back foot.

With regulators increasingly turning to data- and technology-driven supervision, firms must adapt at pace in order to avoid falling behind on compliance demands. Fortunately, it is easier than ever for firms to find the right regtech solution for their needs. There are a plethora of options available on the market; the key is choosing a solution which can be tailored to your firm’s needs and is supported by compliance experts for the most up-to-date information.

While this level of change in regulation and compliance might be alarming, it should also be viewed as an opportunity. January is often a time spent reflecting and acting on new ways of operating, either personally or professionally. What better time to review your internal compliance processes and assess if they are ready for the challenges of a new year and a more digital age of compliance and regulation?

Discover how ComplyPortal can help you adapt to new and future challenges at: https://complyportal.uk/modules

Find Luis’s previous blog post here: Practical Tips for Implementing Compliance Software

 
 

About ComplyPortal:

First developed in 2011 by compliance professionals for compliance officers, ComplyPortal offers workflow, automation, and several modules to help firms with control and regulatory compliance monitoring.

ComplyPortal simplifies financial services regulatory compliance management on an easy-to-use cloud-based comprehensive compliance platform. It enables compliance officers, risk officers and senior management to keep track of their firm’s regulatory responsibilities and workflows. Our platform includes the following modules, among others:

  • Monitoring: a year-round schedule pre-populated with monitoring questionnaires to ease compliance processes.
  • Registers: lists controlled by the Compliance officer, but easy for staff to view.
  • Risk: map and control risk areas to effectively identify and manage risk for your firm.
  • eKYC solution: perform comprehensive searches, including client identity verification, document authenticity, and more for a comprehensive KYC and AML approach
 

CLICK HERE TO GET STARTED!

The post Supervision and Compliance Challenges in a Digital Age appeared first on Complyportal.

]]> ESMA publishes its Final Report on the review of transaction and reference data reporting obligations under MiFIR https://complyportal.uk/esma-publishes-its-final-report-on-the-review-of-transaction-and-reference-data-reporting-obligations-under-mifir/ Fri, 09 Apr 2021 12:22:50 +0000 https://stage.complyportal.uk/?p=14840 ESMA publishes its Final Report on the review of transaction and reference data reporting obligations under MiFIR Earlier this week, ESMA published its Final Report on the review of transaction and reference data reporting obligations under MiFIR. The Final Report builds on ESMA’s Consultation on MiFIR transaction reporting published on the 24th of September 2020. According to ESMA, the Final Report contains recommendations and possible legislative amendments to MiFID II/MiFIR with a view to simplifying the current reporting regimes whilst ensuring quality and usability of the reported data. It aims to achieve this through: The replacement of the TOTV concept with the SI approach for OTC derivatives, taking into account the conclusions of ESMA’s Final Report on the transparency regime for non-equity instruments and the trading obligation for derivatives; The removal of the short sale indicator; The alignment with reporting regimes such as MAR, EMIR and the Benchmark Regulation; The reliance on international standards, including LEIs, ISINs and CFIs; and The inclusion of three additional data elements with a view to harmonise the way they are reported and avoid inconsistent and duplicative reporting of the same information at the national level. In particular, these are indicators for: Buyback programs; Information on MiFID II client categories; and Transactions pertaining to aggregated orders. ESMA’s recommendations are particularly relevant for trading venues, systematic internalisers, investment firms, data reporting services providers, and asset management companies. The Final Report will be submitted to the European Commission and is expected to feed into any review of the transaction reporting regime in MiFIR. The Final Report can be accessed here. About ComplyPortal – Compliance software since 2011: First developed in 2011 by compliance professionals for compliance officers, ComplyPortal offers workflow, automation, and several modules to help firms with control and regulatory compliance monitoring. ComplyPortal simplifies financial services regulatory compliance management on an easy-to-use cloud-based comprehensive compliance platform. It enables compliance officers, risk officers and senior management to keep track of their firm’s regulatory responsibilities and workflows. Our platform includes the following modules, among others: Monitoring: a year-round schedule pre-populated with monitoring questionnaires to ease compliance processes. Registers: lists controlled by the Compliance officer, but easy for staff to view. Risk: map and control risk areas to effectively identify and manage risk for your firm. eKYC system: perform comprehensive searches, including client identity verification, document authenticity, and more for a comprehensive KYC and AML approach CLICK HERE TO GET STARTED!

The post ESMA publishes its Final Report on the review of transaction and reference data reporting obligations under MiFIR appeared first on Complyportal.

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ESMA publishes its Final Report on the review of transaction and reference data reporting obligations under MiFIR

Earlier this week, ESMA published its Final Report on the review of transaction and reference data reporting obligations under MiFIR.

The Final Report builds on ESMA’s Consultation on MiFIR transaction reporting published on the 24th of September 2020.

According to ESMA, the Final Report contains recommendations and possible legislative amendments to MiFID II/MiFIR with a view to simplifying the current reporting regimes whilst ensuring quality and usability of the reported data. It aims to achieve this through:

  • The replacement of the TOTV concept with the SI approach for OTC derivatives, taking into account the conclusions of ESMA’s Final Report on the transparency regime for non-equity instruments and the trading obligation for derivatives;
  • The removal of the short sale indicator;
  • The alignment with reporting regimes such as MAR, EMIR and the Benchmark Regulation;
  • The reliance on international standards, including LEIs, ISINs and CFIs; and
  • The inclusion of three additional data elements with a view to harmonise the way they are reported and avoid inconsistent and duplicative reporting of the same information at the national level. In particular, these are indicators for:
    • Buyback programs;
    • Information on MiFID II client categories; and
    • Transactions pertaining to aggregated orders.

ESMA’s recommendations are particularly relevant for trading venues, systematic internalisers, investment firms, data reporting services providers, and asset management companies.

The Final Report will be submitted to the European Commission and is expected to feed into any review of the transaction reporting regime in MiFIR.

The Final Report can be accessed here.

About ComplyPortal – Compliance software since 2011:

First developed in 2011 by compliance professionals for compliance officers, ComplyPortal offers workflow, automation, and several modules to help firms with control and regulatory compliance monitoring.

ComplyPortal simplifies financial services regulatory compliance management on an easy-to-use cloud-based comprehensive compliance platform. It enables compliance officers, risk officers and senior management to keep track of their firm’s regulatory responsibilities and workflows. Our platform includes the following modules, among others:

  • Monitoring: a year-round schedule pre-populated with monitoring questionnaires to ease compliance processes.
  • Registers: lists controlled by the Compliance officer, but easy for staff to view.
  • Risk: map and control risk areas to effectively identify and manage risk for your firm.
  • eKYC system: perform comprehensive searches, including client identity verification, document authenticity, and more for a comprehensive KYC and AML approach

CLICK HERE TO GET STARTED!

The post ESMA publishes its Final Report on the review of transaction and reference data reporting obligations under MiFIR appeared first on Complyportal.

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