RegTech Focus: December 2024
Welcome to the Q4 2024 edition of RegTech Focus, your trusted source for navigating the ever-evolving world of regulatory compliance. As the year winds down and the holiday season approaches, it’s a time for reflection and planning. Together, we’ve navigated a year of transformative regulatory shifts, and now we look ahead to what 2025 holds for the industry.
This edition is designed to provide you with essential updates and strategies to help you close out the year confidently and set the stage for success in the new year. From regulatory insights to compliance tips, we’re here to support your journey every step of the way.
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In this issue:
Emerging Regulations Watch
In this series, we delve into the most significant upcoming regulatory changes, highlight potential risk areas, and present practical strategies to help you navigate the evolving regulatory landscape.
5 Key Takeaways from the SEC's Form PF Amendments
The SEC’s recent Form PF amendments to reporting requirements mark a significant shift for fund managers, with an increased focus on data frequency and granularity. Fund managers have until March 12, 2025, to begin reporting under the new form, meaning timely adjustments to reporting processes are crucial. Read more.
DORA Compliance: Key Insights from the CBI's Industry Briefing
On Wednesday, November 6, 2024, the Central Bank of Ireland (CBI) held an industry briefing to discuss the implementation of the Digital Operational Resilience Act (DORA), which will set new standards for cybersecurity and operational resilience, ensuring firms are better prepared to withstand and respond to digital disruptions. During this session, the CBI outlined critical expectations for firms, including compliance timelines, gap analysis requirements, and specific contract considerations for ICT providers. Read more.
ESMA's RTS 22 Consultation Paper: Key Changes & Implications
On October 3, 2024, the European Securities and Markets Authority (ESMA) released a consultation paper addressing proposed amendments to Regulatory Technical Standards (RTS) 22 and RTS 24 under the Markets in Financial Instruments Regulation (MiFIR). This review responds to mandates from the European Commission to align technical standards with updates to Articles 25 and 26 of MiFIR. Read more.
Rule 13f-2 and Form SHO Reporting Obligations for 2025
As the SEC’s new Rule 13f-2 comes into effect in January 2025, investment managers need to prepare for the increased complexity of managing and reporting their short positions via Form SHO. The Rule requires institutional investment managers to report gross short positions on a monthly basis, aligning with the broader SEC efforts to increase transparency in the markets. This applies to both U.S. and certain foreign securities transactions, expanding the scope for global managers who participate in U.S. markets. Read more.
DP24/2 Review: FCA's Vision for UK's Transaction Reporting Regime
The FCA has released Discussion Paper DP24/2, setting out proposals for revising the UK’s transaction reporting regime. While the FCA emphasises that the current framework is effective in detecting market abuse, it also acknowledges the need for updates to reflect evolving market conditions and changing data requirements since the implementation of MiFID II in 2018. This paper highlights the UK’s move toward a post-Brexit regulatory framework tailored to its specific needs. Read more.
Regulatory Change Management for 2025
As we step into 2025, sell-side and buy-side firms face another wave of evolving regulations. From the continued focus on sustainability and digital resilience to increased transparency and oversight, these changes present both challenges and opportunities for the financial services industry. To assist firms in navigating these changes, we’ve created the Emerging Regulatory Change Checklist for 2025. This resource outlines the critical updates and provides a clear framework to help firms stay compliant and mitigate risks associated with regulatory changes.
Let our checklist be your starting point for a successful 2025. Download now.
AQMetrics Insights: Beyond Our Walls
2024 has been an exciting year for AQMetrics, marked by engaging events, meaningful client connections, and significant recognition of our contributions to the RegTech industry. From participating in industry-leading conferences to hosting exclusive client discussions, and celebrating multiple award wins, it’s been a period of growth and achievement.
Here’s a glimpse of what we’ve been up to this year:
AIMA Journal: AQMetrics Explores Risk Monitoring in the Alternative AM Industry. Read the article.
AIMA Fund Manager Briefing: Enhancing Regulatory Reporting Accuracy Through Advanced Analytics. Watch recording.
Roundtable Discussion: AQMetrics and ME Business Solutions discuss CSSF Circular 24/856 and its implications for Luxembourg-based funds. Read the key takeaways.
Industry Recognition:
This quarter has been marked by significant achievements underscoring our commitment to innovation and excellence in regulatory technology:
Selected for the RegTech100 List 2025 by Fintech Global
Awarded Regulatory Reporting Solution of the Year at the Hedgeweek US Awards 2024
Awarded Most Innovative Technology Firm - Boutique at the HFM US Services Awards 2024
Named Among the Top 14 Regulatory Reporting Providers to Watch in 2024 by RegTech Insight
More of this year's top reads:
In the News: AQMetrics and CMC Markets Forge Strategic Partnership in MiFID II Transaction Reporting.
Success story: How Redwheel Transformed Form PF Reporting with AQMetrics.
Navigating DORA: What AIFMs need to do now. Read the blog.
This edition of RegTech Focus marks an opportunity to reflect on the milestones and challenges of 2024 while looking ahead to the possibilities that 2025 will bring. This year has seen significant regulatory developments, and we’re proud to have provided insights and solutions to help you stay ahead.
As the year draws to a close, we’re grateful to have shared this journey with you. Here’s to a productive end to 2024 and a bright start to 2025! Stay tuned for more updates, insights, and innovations in the year ahead.
By AQMetrics
This is a shorter version of our RegTech Focus newsletter, which brings you in-depth analysis from the world of RegTech.
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