Tech buzzwords such as AI and blockchain have certainly garnered plenty of attention in the past year, and quite rightly so. But no single trend, objective, or concern has piqued the interest of the bobsguide community more in 2017 than regulation compliance, particularly in relation to three of the most significant pieces of legislation to affect financial services in recent times with implementation dates looming on the horizon in early 2018: MiFID II, PSD2, and GDPR.
Shrinking IT budgets are being squeezed on all sides, due to multiple factors including increased spend on cybersecurity and the overwhelming need to innovate and/or replace legacy technology to keep pace with new, more agile, digitally native competitors.
Throw in the additional factor that fines for non-compliance are greatly increased for MiFID II, PSD2, and GDPR, and it is easy to see why these regulations have proved to be such a headache financial services.
Regtech SaaS partners that provide comprehensive compliance solutions in budget are vital for FIs, many of whom are still trying to understand the full implications of the regulations.
So just what do MiFID II, PSD2, and GDPR demand of financial services, and how should financial services go about complying with the legislations in a cost-effect manner? Read our compliance articles of the year to find out.
MiFID II will change the market in six distinct ways
The missing MiFID II info: Costs and charges transparency definitions; your questions answered
MiFID II Client Reporting: Focus on more than just regulatory reporting
MiFID II countdown: Everything you need to know about call recording retention and retrieval
Making wealth managers ready as the MiFID II deadline approaches
MiFID II: Six significant changes for Client Lifecycle Management
MiFID II: Achieving a comprehensive and compliant dataset
MiFID II readiness: Tackling the Legal Entity Identifier challenge
Everything you want to know about PSD2 but were too afraid to ask
Token CEO: “PSD2 is the best thing to happen to banking in its history”
How PSD2 and Instant Payments are shaping banking's future
Why compliance with PSD2 should be seen as part of a bigger strategic move towards API banking
Does PSD2 lack the infrastructure to be enforced until 2019?
How Deutsche Bank is forging a path to PSD2 compliance
How banks should use PSD2 compliance for digital transformation
Why PSD2 will make it possible for customers to build their own banks
PSD2 is pushing banks to reinvent themselves, but are they up to the task?
PSD2 and SCTInst: A threat to card payments in Europe?
Is PSD2 the most significant banking industry shake-up ever? Pt. 1
Is PSD2 the most significant banking industry shake-up ever? Pt. 2
Is PSD2 the most significant banking industry shake-up ever? Pt. 3
What is GDPR?: The implications you need to know
How financial services should be preparing for GDPR
The impact of GDPR: What are the regulation's objectives?
How the evolution of cybersecurity has led to GDPR
Embracing biometrics to prepare for GDPR
Why implementing an NoSQL database is the silver lining the GDPR compliance cloud
How GDPR compliance can ignite Digital Transformation
Taking control of data access: Reducing risk ahead of the GDPR
bob’s guide to treasury management systems: How financial professionals can prepare for GDPR
Why the government is going to have to confirm that the UK will continue to use GDPR as its standard post-Brexit