Understanding regulation will continually be a priority for Leaders of worldwide financial institutions. Financial regulation remains a key driver for maturing enterprise data management, as achieving compliance depends on high data quality. New requirements and developments in an ever changing regulatory environment need to be considered in every data management program to support meeting set deadlines by regulators.
“Most of the regulation requires accurate, complete and timely data. Financial institutions with poor data quality are struggling to achieve compliance on budget and on time. Just achieving compliance with reporting to trade repositories according to Dodd Frank Act or EMIR is a massive undertaking, partially because of incomplete and inaccurate data,” said Edward Hawthorne, Partner at Element22.
Element22 supports the collaboration and informational exchange of regulatory topics across institutional and regional borders, by moderating REGNET, a LinkedIn group of experts interested in financial regulation that impacts capital markets. This platform enables experts to get in touch with like-minded professionals to initiate forward-thinking discussions about regulatory initiatives that impact capital markets: EMIR, Dodd Frank Act, MiFID II, AIFMD, FATCA, Basel III and more.
“I created FOXNET, the previous name of the group, back in 2010 to enable collaboration of like-minded experts around the world to share relevant, quality assured information, and discuss hot topics which, in turn, also provides a forum to network. Staying up to date in an ever changing environment due to a massive overhaul of the financial industry caused by new regulation is a challenge and I just wanted to simplify the access to fresh and relevant content for everyone,” said Thomas Bodenski, Partner at Element22.
Element22 contributes resources to moderate REGNET, but also will provide fresh content and insights through market commentaries and white papers.
Information and content shared on REGNET:
• News, updates and articles about regulatory developments
• Commentaries from industry experts and authorities
• Information about upcoming round tables, webinars and conferences
“Data plays a key role in any regulatory compliance project. Regulation in general has been a key driver for enterprise data management programs and forced financial institutions around the world to improve their data quality by increasing their data management maturity. REGNET provides an additional forum for us to collaborate on data requirements created by new regulatory developments,” adds Element22 Partner, Rohit Mathur.
Counting more than 3500 members, REGNET, marked as “Very Active” by LinkedIn, hosts more than 90 discussions in a four-week period. Participating in this forum are traders, portfolio managers, consultants, compliance officers, lawyers, regulators, market infrastructure operators and data officers, to name a few.
“All collaboration in this group is about financial regulation and it’s impact on capital markets. Therefore it was just a natural step to rename it REGNET.
I am glad I won the support of my partners at Element22. Each of them brings the highest level of knowledge and expertise to our field,” concludes Bodenski.
REGNET is moderated to ensure that the group remains an independent, informative and collaborative community for financial regulation that impacts capital markets. Job postings and job-hunting activities are strictly prohibited. Spam or outdated contributions will be eliminated with strict monitoring of content submissions.
Membership is FREE. After review and approval by the group moderators, access is granted only to those dealing with financial regulation of capital markets.
Element22 is a privately-held boutique advisory firm that is recognized within the financial services industry for its expertise in data. Founded in 2009, the firm was formed to support financial services firms as they scrambled to address increased challenges in the marketplace. Sweeping regulatory changes, increased risk management needs, greater requirements for business transparency, a more competitive business landscape, and ongoing pressure to improve efficiency weigh on industry firms as they strategically plan for business growth. Element22’s foundational data management initiative offers a multifaceted solution to financial institutions, vendors, and investment bankers for data-related issues ranging from maturing data management to monetizing data-related assets.
For more information, please contact Thomas Bodenski at firstname.lastname@example.org or +1 212 353 9616