RegAT – Round 2

RegAT – Round 2

Henri Pegeron

Product Compliance, Derivatives at Fidessa

Views 269

RegAT – Round 2

23.06.2016 07:00 am

Regulation AT forges ahead, this time with a Round 2 panel convened on June 10th at which the CFTC focused the discussion on five major sticking points:

1. Amendments to the proposed definition of direct electronic access (DEA)
2. Quantitative measures to establish the population of persons
3. Alternatives to require each person defined as an “AT Person” to implement and utilize pre-trade risk controls
4. AT Persons’ compliance with requirements under RegAT when using third-party algorithms or systems
5. Source code retention and access

Round 2 is a welcome step in the right direction, and by revisiting these topics with the people who know them best, we can take a proactive step towards demystifying RegAT. The choice of topics also reveals a sense of urgency in getting RegAT moving, and soon. That sentiment was echoed by CFTC Chairman Massad at a conference in New York earlier this month where he expressed a willingness to split RegAT into more digestible parts.

The next question is what to expect in Round 3. The untold story of RegAT is that the effectiveness of US-based regulation can so often depend on the person serving as US President at the time of its implementation. RegAT faces a race of its own, then, to get the rules finalized before the current political uncertainty materializes into a reality in November.

Latest blogs

Hirander Misra GMEX Group

Are UK Banks profiting from the current coronavirus crisis and failing SMEs?

A UK business could be eligible for a Coronavirus Business Interruption Loan Scheme (CBILS), as set out by the UK Government. However, it appears that despite the Government’s best intentions, this scheme is not working in practice and some urgent Read more »

Otabek Nuritdinov Safenetpay

A strong fintech needs more than just access to funding

  Investors, both private and institutional, are excited about investing in fintechs that are in the payments services business. What are the issues that really should matter to you, as a client? In 2019, institutional investors Read more »

Martijn Bos Holland FinTech

Get your head up in the clouds, it’s good for business

How Digital Transformation is reshaping competition in financial services The message is clear and it’s coming at us from all sides: digitalize now. No business unit seems to be immune to the onslaught of cloud-based, AI-driven, real-time, Read more »

Sonny Aulakh Pure Storage

How to support remote working without compromising productivity

As the need to work remotely continues to impact the daily lives of people and businesses around the globe, it places unexpected demand on IT departments. How do you transition supporting 30% of your workforce to work remotely to 100% in a matter of Read more »

Martijn Bos Holland FinTech

Making it through the rain: Finance in times of turmoil

You’d need to be living on a remote island, without electricity or internet to not be aware of what the world is going through right now – a medical crisis that has spread across the world and disrupted supply chains, goods and services production, Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel