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Find out what level of impact LCR will have on firms and where firms see LIQREP having the biggest impact.
Meeting the requirements of the Senior Managers Regime is a significant logistical undertaking with input required from multiple sources. However the obvious question is which function should take overall leadership for this initiative.
In three successive compliance webinars we posed this question to delegates. The webinars were held both before and after the publication of the FCA/PRA consultation papers the most recent of which confirmed the implementation date of 7th of March 2016.
This blog analyses the results and whether there is any early indication which department will be assuming overall responsibility for this important new regulatory requirement.
Hardman & Co – 12/03/2015 – Trading update – negative but medium term undimmed
EBA release new (2.3) Data Point Model and XBRL taxonomy for Additional Monitoring Metrics (AMM)
On 2nd March 2015 the European Banking Authority (EBA) published a new XBRL taxonomy to be used by competent authorities for remittance of data under the EBA Implementing Technical Standards (ITS) on supervisory reporting.
The new taxonomy will have as reference date 30th June 2015 onwards and will be used for the first reports on Additional Monitoring Metrics (AMM) and supervisory benchmarking.
This data point model contains the XBRL sub-methodology firms and technology vendors require to form the XBRL taxonomy ready for submission later this year.
Although AMM hasn’t been released in the European Union Official Journal and is yet to be adopted by the European Commission, with the release of the DPM 2.3 it is unlikely AMM templates will change significantly, if at all during this time.
“So, we are still waiting for the final ‘FINAL’ draft of the AMM ITS, HOWEVER, AMM first reporting date, 1st July 2015, is very unlikely be delayed.”
You can read the EBA publication in full online HERE: http://www.eba.europa.eu/-/eba-publishes-new-dpm-and-xbrl-taxonomy-for-remittance-of-supervisory-reporting-as-of-30-june-2015
As of Monday 23rd February 2015, the Lombard Risk headquarters will be operating from its new office in the heart of the City. The new address is 7th Floor, 60 Gracechurch Street, London, EC3V 0HR. Telephone, fax and other contact details remain the same. This infographic looks at the brief history of Gracechurch Street and the surrounding area.
Lombard Risk online poll results from our recent online regulatory update on: PRA and European Liquidity Regime. The online briefing took place on 13th January 2015 and was attended by business representatives from financial services institutions, mainly European-based. James Philips, Global Director Regulatory Strategy, discussed: AMM – What, When, Who, Why LCR – a specific look Intraday – what this means and certain recommendations Liquidity Disclosure – where this is and where its going UK Regime Action…. Follow Lombard Risk REPORTER …
Has anyone been questioned by FCA or PRA about the data submitted on the own funds or LCR templates? confirmation from PRA regarding Funding Plan templates? what is meant by LCR timeline?
Given the current state of play regarding the need for the Bank of England to authorise a change in legislation to enable the PRA and FCA to implement the Regimes and the fact that the second Consultation Paper is still in consultation, ending 27th February, and allowing the regulators time to respond to the CP feedback, it is reasonable to assume that the PRA and FCA will not be in a position to issue final Policy Statements, guidance, etc., until …
Lombard Risk online poll results from our recent online compliance update on addressing the requirements of the Senior Managers and Certification Regimes.
Regulatory updates on PRA CP27/14: CRD IV: Liquidity, Assessment of Basel III regulations + more from the UK, EU, Americas and Asia Pacific in
Lombard Risk online poll results from our recent online regulatory update on: Summarising 2014 and an overview of the 2015 regulatory landscape.
1. Has the 2014 regulatory landscape been easier than expected?
2. What percentage are approaching 2015 with open eyes now?
3. What will the main challenge in 2015 be?
View our 2014-2015 regulatory online poll results HERE >>>
Lombard Risk is pleased to support this year’s Save the Children – Christmas Jumper Day by dressing appropriately and raising money with a bake sale. Great work everybody!
We would like to extend our hearty greetings to celebrate this special time of year.
Lombard Risk last week sponsored the Clearing and Settlement World 2014, organised by Worldwide Business Research (WBR) between 26-27th November in London, where around 200 buy and sell-side practitioners gathered to discuss key topical issues: regulation, derivatives and securities.
Lombard Risk named “Collateral Technology Vendor of the Year” at the 2014 Custody Risk European Awards
On the 11th of November 2014, Lombard Risk was named “Collateral Technology Vendor of the Year” at the 2014 Custody Risk European Awards at the Jumeirah Carlton Tower in London.
Lombard Risk last week sponsored the 8th annual collateral management forum, organised by Fleming Europe between 16-17th October in Amsterdam, where around 150 collateral business practitioners gathered to discuss key topical issues: regulation and optimisation.
Lombard Risk online poll results from our recent online regulatory update on: Liquidity framework requirement
These polls were carried out live during the 24th in the series of our online regulatory update webinar entitled liquidity framework requirement. The online briefing took place on 9th October 2014 and was attended by business representatives from financial services institutions, mainly UK-based.
Download the presentation slides from the webinar by registering HERE >>
European Commission confirms introduction of Liquidity coverage requirement ratio in Europe will be 1st October 2015
European Commission confirms introduction of LCR ratio in Europe will be 1st October 2015 Following Lombard Risk regulatory update on liquidity framework requirement on the 9th of October, the European Commission have since issued a communiqué in the form of a FAQ regarding the delegated act for LCR. This confirms that the timing for introduction of LCR ratio in Europe will be 1st October 2015, with remaining annual dates remaining at 1st January. You can read from the official EU …
Are small investment firms in-scope? Is Asset Encumbrance currently on GABRIEL? If you’re in-scope for COREP and NOT FINREP do you have to report AE?
Compliance Risk The risk of financial or reputation loss due to failure to comply with key regulations governing the organisations business dealings and operations. Risk management The forecasting and assessment of financial risks together with the identification of procedures to avoid or minimalize their impact. Failure to do so can result in severe consequences for individuals and organisations. Integrated Audits Integrated audit is where by auditors in addition to an opinion on the financial statement, must also express an opinion …