The phrase ‘challenges of regulatory reporting’ means different things to different organisations. There is no doubt that within the financial services sector the speed of change and increase in complexity remains high on the agenda.
Key Regulatory Reporting Challenges
- The cost of compliance weighed against regulatory fines and reputational damage;
- Potentially contradictory interpretation and application of regulations;
- The Impact and Uncertainty the UK’s Exit from Europe (Brexit) may have on Regulators;
- The role and recent decisions of the regulators themselves; and
- Existing gaps between regulatory rules, and organisations’ processes and controls.
In our latest paper The Challenges of Regulatory Reporting we discuss the common theme underpinning all of these regulatory challenges – data. From data integrity and management information (MI) to the benefits of workflow management tools and achieving a comprehensive audit trail, we challenged what ‘good’ looks like in firms’ ongoing regulatory reporting and compliance.