Best Practices in Buyside Regulation Implementation


Constructing a Successful Compliance Roadmap

This report explores the ways in which large EU- and UK-based buyside firms can run and execute change management programmes associated with the implementation of and compliance with a spate of incoming regulations.

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Specifically, this report analyses buyside adaptation for:

  • the BCBS IOSCO margining requirements for non-centrally cleared derivatives;
  • the EU Capital Requirements Directive & Regulation;
  • the EU Markets in Financial Instruments Directive & Regulation;
  • the European Market Infrastructure Regulation;
  • the EU Market Abuse Directive & Regulation;
  • the EU Alternative Investment Fund Managers Directive;
  • the EU Undertakings for Collective Investment in Transferable Securities Directive; and
  • the EU Packaged Retail and Insurance-based Investment Products Regulation.

Buyside regulation implementation should be based on deliberate processes that integrate and embed compliance procedures within business models and operational structures. Buyside firms must adjust their front-office business models and operations to ensure that they can efficiently and effectively comply with the rules without incurring an overly expensive set of costs.

GreySpark believes that all large buyside firms should view the implementation of a buyside regulation change management programme as an opportunity to create short- and long-term strategic and regulatory demands that are designed to update existing cultural, governance, operational and technology utilisation processes. To achieve these goals, buyside firms must reshape their legacy processes and technology in order to insert automated data and reporting processes into their IT architecture to comply with the current raft of regulations in anticipation that new updates to the rules will continue to be issued by authorities in the future.

Published on: 9 Dec, 2016

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Best Practices in Buyside Regulation Implementation – Table of Contents

  • 1.0 A Buyside Perspective on Financial Markets Regulations: 1990-2016
    • 1.1 Past Attempts and Challenges to Regulatory Implementation
    • 1.2 The Financial Crisis: A New Era of Regulations
  • 2.0 Assessing the Impact of the EU Regulatory Agenda on Global Buyside Business Model
    • 2.1 The BCBS IOSCO Margin Requirements for Non-centrally Cleared Derivatives
    • 2.2 The EU Capital Requirements Directive & Regulation
    • 2.3 The EU Markets in Financial Instruments Directive & Regulation
    • 2.4 The European Market Infrastructure Regulation
    • 2.5 Market Abuse Directive & Regulation
    • 2.6 The EU Alternative Investment Fund Managers Directive
    • 2.7 The EU Undertakings for Collective Investments in Transferable Securities Directive
    • 2.8 The EU Packaged Retail and Insurance-based Investment Products Regulation
  • 3.0 Best Practices for Initiating Buyside Change Programmes
    • 3.1 Embarking Upon the Journey: Best Practices for Operational Implementation
    • 3.2 Navigating the Road Ahead: Best Practices for Cultural and Governance Implementation
    • 3.3 Reaching the Destination: Best Practices in Technology Implementation
    • 3.4 Addressing Legacy Challenges: Data as an Asset and Technology Debt
  • 4.0 Best Practices for Realising Buyside Change Programmes
    • 4.1 Resolving Technology Debt to Utilise Data as an Asset: The Beginning of a Buyside Regulation Implementation Programme
    • 4.2 Looking Beyond the Horizon: Regulatory Compliance Services as a Buyside Business Strategy
  • 5.0 Appendices
    • 5.1 Glossary of Terms
    • 5.2 Table of Figures