Our Compliance In Practice event in the City of London on 30th May provided a valuable discussion forum about the implementation of policies and technology solutions to meet the requirements of regulations. JP Reis was represented by CEO Greg Collins, our cohosts HewardMills were represented by Lillian Tsang and compere Tilly Lang. Andy Davies of Verint and Jamie Walton, founder of the technology company Raidne, made up the presenting team. The main regulations for reference were MiFID II and GDPR and their conflicting requirements.
There was realistic debate about the risks and rewards for any bank leading the pursuit for compliance solutions in the spirit of the regulations. The RoPA (record of processing activities) is a GDPR requirement that was proposed as a guideline for maintaining a defensible record of decision making while trying to formulate policy. Other topics included the benefits of a holistic approach, the dangers of a siloed approach, the limitations of any given technology solution and the risks of treating any regulatory response as a standalone project.
The level of expertise among the panel and in the audience was impressive and the complexities of achieving compliance, in more or less regulated countries, were covered with depth and clarity. We were pleased with the feedback from our well-informed audience. Please contact us if you would like to follow up on any of the topics discussed.