Every day, in virtually every part of the world, government bodies and regulatory agencies make decisions that can impact DTCC's businesses, clients and employees. We believe active, two-way dialogue with policymakers is essential to understanding their needs and concerns, while providing us an opportunity to share insights and experience that help inform legislative and regulatory discussions and debates.
DTCC, with on-the-ground presence in the U.S., Europe and Asia, engages with lawmakers on a wide variety of issues regarding the nuances and complexities of market infrastructure and the unique issues that could impact the stability, transparency and efficient operation of the global financial system. In 2013, DTCC continued to work collaboratively with policymakers on a wide range of policy issues related to financial reform, including trade repositories, collateral management, legal entity identifiers, financial benchmarks, and clearing and settlement.
2013 Global Highlights:
DTCC's Regulatory Relations group facilitates ongoing communication and engagement between DTCC and its supervisory regulators, both in the United States and throughout the world.
DTCC maintains collaborative relationships with global supervisory bodies in the jurisdictions in which it operates in order to provide a transparent view of the company's governance, processes and risk controls. DTCC's regulated entities regularly respond to supervisory requests related to regulatory examinations as well as questions that arise in connection with ongoing regulatory monitoring programs and the impact of economic, regulatory and market events.
As part of DTCC's efforts to inform regulators about new products and services and to promote dialogue about industry-wide issues the company routinely holds discussions with its supervisory regulators on a wide range of topics, including new regulatory mandates, shortening the settlement cycle for U.S. equity and corporate and municipal debt transactions, market technology and information security.
DTCC's Regulatory Relations group also works with the company's General Counsel and Compliance Group to respond to queries from global regulators about the implementation of new regulations that impact market functions across the globe.