As the regulatory landscape is constantly evolving, Compliance Risk Concepts (“CRC”) is issuing its monthly […]
Not since the Great Depression has such a comprehensive financial regulatory reform measure been taken as the Dodd-Frank Wall Street Reform and Consumer Protection Act, or “Dodd-Frank Act”. Under these new rules, one of the most significant challenges for Compliance Officers is the work set surrounding the CFTC’s trade reconstruction requirement. Trade reconstruction imposes a new standard on swap entities, requiring impacted firms to produce a time-sequenced complete reconstruction of a swap trade within 72 hours of the request by the CFTC. In response, CRC had the honor of collaborating with the talented team at Bloomberg Vault in hosting a DFA Think Tank at Bloomberg Headquarters in NYC. Senior compliance executives and financial services firms representing nearly 10 percent of institutional investment firms impacted by these regulatory requirements met to discuss challenges and practical solutions around the Dodd Frank Trade Reconstruction Regulation. CRC is extremely appreciative of the opportunity to be part of the thought leadership that contributed to resulting industry white paper titled "Practical Guide For Compliance Officers | Swap Trade Reconstruction in 4 Phases". This white paper offers Compliance Officers practical guidance on meeting the trade reconstruction challenge based on emerging industry best practices. The paper initially analyzes the challenges, and then offers a phased project plan to help firms structure the process in a straightforward manner.
NOTE: We are in the process of planning our next DFA Think Tank session, if you are interested in receiving more information regarding the upcoming session scheduled for October 22nd, 2014 please be sure to select YES when filling out the form.