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Regulations, Regulations and More Regulations

In the current scenario banks need to compliance with FATCA, Dodd-Frank, EMIR and MiFID II. And we will not be surprised if we have few more regulations added up sooner or later. Also, they have limited amount of time to compliance with it. 

With my past experiences, I had realised that major drawback or pull factor for banks not to compliance is data management or data is not avaliable at one place. Bank generally have lot of data sources (different legacy systems which are on different databases and different output formats). Saying this banks do have Data Warehouse but still have lot of excel sheets and this data is not avaliable except with the users. It is very difficult for banks to consolidate all this at one location which can be used for compliance. Another reason is currently in the industry we have very limited system/solutions which are fast and flexible enough to provides lot of flexibility to implement these regulations rules.

Thus I feel if banks has one system which has flexible ETL layer and flexible enough to right business rules of the regulation majority of the challenges or fear of not meeting compliance will be solved.


Disclosure : I wrote this article myself and it express my own opinion


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Amit Agrawal

Amit Agrawal


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13 Mar 2010



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Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

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