AFB Practice Workshop: Transaction Reporting – Understanding the Challenges & Avoiding the Pitfalls

Please Note: Due to popular demand, this is a repeat of the workshop delivered on 08 October 2024. If you have attended previously, we recommend that you don’t register for this session.

Transaction reporting is one of the key controls that banks can use to detect and prevent market abuse. Each day, banks deal with large volumes of financial transactional data, which at times can be a challenge to manage.

Due to popular demand, we are repeating this workshop in partnership with Kroll. It will provide attendees with practical tips to support the design and development of a transaction reporting framework. The workshop will outline how to maintain data quality management, as well as provide example scenarios and explore the role of a trader in transaction reporting.

Why attend?

The transaction reporting required by banks is often technical in nature. Specific talent is needed and can be costly. Firms are expected to apply the FCA’s and EU’s ESMA Guidelines to the extent that they remain relevant.  At the same time, regulators are continuing to take action against banks which fail to maintain strong reporting frameworks that identify and prevent market abuse.

This workshop will explore the key challenges set out below:

• Implications of Brexit (e.g. difference in PII identifiers between EU/UK branches or affiliates)
• Common reporting errors (e.g. Country of branch, Trade Date Time)
• Common failures in governance and controls, policies and procedures
• Remediation process, back-reporting and interaction with the FCA
• Future landscape – regulatory change

What will members gain for use at their bank?

• Increased understanding of the key components required for a successful transaction reporting framework
• Practical tips to implement an effective transaction reporting framework
• Better understanding of why transaction reporting controls fail and the key causes of failure

Who should attend?

This workshop is aimed at industry practitioners whose role may touch on transaction reporting.  This may include Compliance, Regulatory Reporting, Operations, Technology and Internal Audit.

Speakers

Zach Johnson, Director

Zach has over 20 years’ experience working in the Financial Services sector across various roles in trading, compliance, professional services, including working in the FCA’s Markets Reporting Team (MRT). Zach leads the Regulatory Reporting service at Kroll.

Judy Leung, Senior Vice President

Judy has over 20 years’ experience in professional services and as a compliance officer for a variety of authorised investments firms specialising in Markets, Reporting and Operations. Judy is a Subject Matter Expert in MiFIR Transaction Reporting and regularly delivers training in this topic as well as performing reviews, s166, secondments and advisory support.

Logistics

Fee:         £265 + VAT

Format:    In-person at Kroll: The News Building, Level 6, 3 London Bridge Street,

                 London, SE1 9SG

Date:        Wednesday 15 January 2025

Time:        9:00 – 11:00 (refreshments & networking from 8:30)

Places:     Maximum of 20 people

If you would like to submit a question or have any specific areas that you would like the session to address, please send them to AFB at secretariat@foreignbanks.org.uk You will receive details on how to join this session a week before the event.