DTCC Connection

Aug 18, 2014 • DTCC Connection

DTCC’s Thought Leadership Featured in Leading Journals

by Joseph King

One way The Depository Trust & Clearing Corporation (DTCC) provides thought leadership for the financial services industry is by writing and publishing articles in influential journals and publications. Here is a summary of the latest articles written by DTCC executives.

Financial Markets: More Cross-Border Collaboration Needed
Larry Thompson, DTCC Managing Director and General Counsel, and Chairman of the Board of DTCC Deriv/SERV LLC
(Published in the Boersen Zeitung [Rules & Regulations Newsletter], August 12)

The role of market infrastructures in enabling global financial market reforms has become more pivotal than ever. However, without cross-border collaboration there is a danger that these reforms may not deliver the transparency needed to properly identify and manage future risks. For the trade repository to achieve its full potential as a risk mitigation tool, collaboration among the regulators and the industry groups will be critical to ensuring that the greater good of market transparency and integrity is achieved and that the regulators have the tools to identify and mitigate causes of financial instability.

Read the entire article: http://www.dtcc.com/news/2014/august/12/financial-markets-more-cross-border-collaboration-needed.aspx

FATCA: A U.S. Regulation That's Having a Global Impact
Mark Davies, Head of Avox, a DTCC Company
(Published in WallStreet & Technology, August 5)

Enacted as part of the Hiring Incentives to Restore Employment Act of 2010, the U.S. Foreign Account Tax Compliance Act (FATCA) has been one of the most widely discussed pieces of regulation in recent years. In simple terms, it aims to thwart tax avoidance by U.S. citizens by preventing them from hiding income and assets in other countries. However, the impact is truly global, encompassing most foreign financial institutions (FFIs) and investment firms with U.S. clients.

Read the entire article: http://www.dtcc.com/news/2014/august/07/regulation-thats-having-a-global-impact.aspx

The Dodd-Frank Regulatory Marathon – Pacing Towards Effective and Efficient Financial Reform
Larry Thompson, DTCC Managing Director and General Counsel, and Chairman of the Board of DTCC Deriv/SERV LLC
(Published in Tabb Forum, July 24)

The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law four years ago and since then, the regulatory implementation of these reforms has turned into a marathon. While Congress may have sprinted to enact Dodd-Frank, over the past 1,460-plus days since the legislation became law, regulators have altered their pace and focused on simply crossing the finish line.

Read the entire article: http://www.dtcc.com/news/2014/july/28/the-dodd-frank-regulatory-marathon.aspx

Three Things to Know About FATCA
Mark Davies, Head of Avox, a DTCC Company
(Published on Thomson Reuters GRC, July 1)

Since its inception in 2010, the Foreign Account Tax Compliance Act (FATCA) has been one of the most hotly debated and nervously awaited pieces of policy making. The key – as with all areas of regulation – is to make sure there is a full understanding of the requirements and that from the bottom up, there is a focus on timeliness, accuracy and momentum when it comes to reporting client data. Firms must act now, in earnest, to assess FATCA requirements against their internal data infrastructure in order to understand their readiness to comply.

Read the entire article: http://www.dtcc.com/news/2014/july/16/three-things-to-know-about-fatca.aspx


Asian Regulators Enforce Global Derivatives Reporting Reforms
Peter Tierney, CEO DTCC Data Repository (S) Pte. Ltd
(Published in Regulation Asia, July 8)

Six years after the global financial crisis the regulatory response to that event has moved from consultation to implementation across Asia. Policymakers and regulators have focused on designing a system that will improve the transparency and integrity of financial markets. Today, major derivatives jurisdictions including Japan, Hong Kong, Singapore and Australia have enacted regulations requiring derivatives transactions to be reported to repositories. This will ultimately give regulators a clearer picture of systemic risk levels throughout the financial system.

Read the entire article: http://www.dtcc.com/news/2014/july/09/asian-regulators-enforce-global-derivatives-reporting-reforms.aspx