Regulatory reforms, a continuous challenge
The financial industry faces a huge regulatory reform as we speak: Banking union, Capital Requirement Directive IV (CRD IV), Solvency II, Market in Financial Instrument Directive II (MiFID II), Market Abuse Directive II (MAD II) just to name a few. All these complex sets of regulatory changes are coming through a lengthy and volatile law making process. Continuous changes, multiple delays and hard deadlines are all part of the game.
Financial institutions need integrated and practical solutions that grant them the right to operate in their chosen markets. Non-compliance is not an option. At the same time they need to deal with the drastically growing reporting obligations for delivering of more and more data. The number of requirements are increasing with much stricter governance requirements. Transparency and traceability of implementing regulatory requirements are the fixed agenda items in conversations of financial institutions with their (multiple) supervisory authorities.