Botsford Associates

Kicking Off the Holiday Season with Cheer! What a wonderful way to celebrate the season! 😇 Our Botsford Associates Annual Christmas Party was filled with laughter, great conversations, and a sense of togetherness that defines this special time of year. As we honor the spirit of the holidays and cherished traditions, we extend our heartfelt wishes to you and your loved ones. May your season be filled with warmth, joy, and unforgettable moments. We’re grateful for the incredible team that makes Botsford Associates what it is, not just during the holidays but every day of the year. #BotsfordAssociates

EMIR 3.0 Whitepaper Update: Key Changes for EU Clearing Markets On April 24, 2024, the European Parliament adopted the final EMIR 3.0 texts, marking a significant step toward mitigating excessive exposures to third-country central counterparties (CCPs) by both Financial Counterparties (FCs) and Non-Financial Counterparties (NFCs). This update aims to enhance the resilience and efficiency of EU clearing markets. Key changes include: 🔹 Active Account Requirement - EU clearing members handling Euro and Zloty-denominated interest rate derivatives may need to establish clearing capabilities with authorized EU CCPs, such as BME Clearing, Eurex Clearing, KDPW, and Nasdaq Clearing. 🔹 Enhanced Trade Reporting Standards - New procedures with a focus on data quality, ensuring accuracy and clarity in reporting. Dive deeper into the implications of EMIR 3.0 in our latest whitepaper! For more content like this, check out www.botsford.com. #EMIR3 #EURegulation #ClearingMarkets #FinancialCompliance

Recap: CSA Trade Reporting Rewrite Webinar Scott Kerr, CFA had the opportunity to join Cappitech from S&P Global Market Intelligence CSA Trade Reporting Rewrite - Impact and Analysis Webinar, where he discussed: 1) Key Rule Amendments in the context of global harmonization efforts. Changes to Reportable Fields and what CFTC and SEC reporting firms should anticipate. 2) A deep dive into the new Verification and Errors & Omissions requirements, with comparisons to CFTC and EMIR standards, emphasizing the importance of early stakeholder engagement. 3) Project Timeline Considerations and where firms should focus their efforts now. 4) Updates on upcoming initiatives and next steps in the CSA Trade Reporting landscape. For more details, feel free to reach out or check the webinar recording! https://lnkd.in/g-Weq2_F

Key Updates on Trade Reporting Rules from the CSA: The Canadian Securities Administrators (CSA) have made significant updates to trade reporting rules (OSC Rule 91-507), aligning with international standards. These changes aim to streamline reporting, lower operational costs, and enhance data quality—but they also come with notable challenges for firms to navigate. Here’s a quick breakdown of the updates: Verification, Errors & Omissions: - A new monthly verification requirement and reporting of “significant” errors have been introduced. However, the definition of "significant" remains complex and could create operational hurdles. New Reporting Fields: - Firms are now required to report Collateral, Margin data, and CSA-specific fields, adding new dimensions to their compliance workflows. Tight Implementation Timeline: - Despite industry requests for an 18-month window, the CSA has mandated a one-year implementation. This accelerated timeline is particularly challenging, given concerns about DTCC’s readiness for Commodities UPI. As firms gear up to meet these changes, proactive strategies and robust systems will be critical to ensuring compliance and mitigating risks. Read more about how these updates impact your operations: www.botsford.com Let’s discuss—how is your firm preparing for these updates? Share your thoughts or questions in the comments below! #CSA #TradeReporting #Compliance #OSC91507 #FinancialRegulations #BotsfordAssociates

Happy Thanksgiving! 🦃 As we gather with loved ones and reflect on the year, we're reminded of the power of gratitude in every aspect of life—personally and professionally. This Thanksgiving, we’re especially thankful for our US clients, partners, and colleagues who inspire and support us daily. Wishing everyone a holiday filled with warmth, connection, and gratitude. Here’s to celebrating successes, learning from challenges, and appreciating each step of the journey. #USThanksgiving #Gratitude #Thankful

This month, members of the Botsford Associates team Scott Kerr, CFA Alex Elliott Gordon Wong and Chris Fickel attended the Canadian RegTech Association Networking Event in Toronto. It was a fantastic opportunity to connect with industry peers and exchange insights. Thank you to CRTA for hosting another great social event! #Networking #IndustryConnections #CRTA #BotsfordAssociates

🌺Honoring Veterans & Remembering Heroes🌺 On Monday, we will come together to honor the brave men and women who have served and sacrificed for the values we cherish. Whether we observe Veterans Day or Remembrance Day, it’s a time to recognize the courage, dedication, and resilience of those who have defended our freedoms. At Botsford Associates, we express our deepest gratitude to veterans and their families, acknowledging the profound impact of their service on our lives and our communities. Their commitment to duty and country inspires us every day, reminding us of the importance of leadership, perseverance, and unity. As we pause to remember and reflect, let us also renew our commitment to support veterans and honor their legacies. Lest we forget. 🌹 #VeteransDay #RemembranceDay #LestWeForget #BotsfordAssociates

We’re thrilled to announce that our very own Scott Kerr, CFA will be representing Botsford Associates as a panelist at Cappitech from S&P Global Market Intelligence Webinar! Scott will be diving into the insights and implications of the CSA Trade Reporting Rewrite, joined by other esteemed industry experts: Igor Kaplun, Meng Wang, CFA, Tim Reibetanz. Don’t miss out on this opportunity to gain valuable perspectives on the latest updates in trade reporting. Register now to secure your spot! Link: https://hubs.la/Q02Wq9Kv0 #BotsfordAssociates #TradeReporting #CSA #Webinar #FinanceIndustry #Capitech

📢 New Whitepaper Alert! In our latest whitepaper, we delve into the European Commission's Capital Requirements Directive VI (CRD VI) and its implications for Third-Country Branches (TCBs) operating within the EU. As part of the 2021 Banking Package, CRD VI is set to enhance regulatory consistency, transparency, and oversight in the banking sector. Key highlights include: 🔹 Approximately 50 out of 106 TCBs would be classified as Class 1, subject to more stringent requirements. 🔹 Up to 40 TCBs would fall under Class 2 classification. 🔹 16 TCBs with over EUR 10 billion in assets would be required to establish subsidiaries. With standardized authorization procedures and operational requirements, CRD VI aims to bolster resilience, transparency, and risk management for non-EU banks. 📄 For more content like this visit www.botsford.com #Whitepaper #CRDVI #BankingRegulation #FinancialServices #EuropeanCommission

📢 New Whitepaper Alert! 📢 We’re excited to share our latest whitepaper on OSFI’s updated Guideline E-21, which sets clear expectations for managing operational risks and resilience. First introduced in 2016, the guideline has been enhanced as of August 22, 2024, with new directives to help organizations strengthen their operational frameworks. Key updates include: ➤ Enhanced expectations for operational risk management ➤ New guidelines for operational resilience ➤ Revised approaches for business continuity, crisis risk, change, and data risk management—all essential to building a more resilient future. 💡 Whether you're looking to bolster your operational risk strategies or stay compliant with regulatory expectations, our whitepaper provides actionable insights to help you navigate these changes. For more content like this check out www.botsford.com #OSFI #RiskManagement #OperationalResilience #BusinessContinuity #ChangeManagement #Whitepaper #BotsfordAssociates