Recap: Insights from the Canadian RegTech Association’s (CRTA) Derivatives Forum
February 2025
Recently, our Regulatory Advisory team, represented by Scott Kerr, CFA attended the CRTA Derivatives Forum at S&P Global. The event featured insightful discussions with industry leaders tackling key regulatory challenges, particularly the CSA Rewrite and evolving global reporting mandates.
Key Takeaways:
Regulatory Resource Needs - Firms are seeing an increased demand for data expertise, model vetting, and third-party risk specialists to streamline vendor onboarding and model approval processes.
Challenges with SEC 10c-1 - Concerns persist around cross-border application for non-U.S. entities lending in-scope instruments under the new SEC rules.
CSA Rewrite Impacts - The discussion highlighted potential concerns around net-new fields (e.g., zero price) and anonymous SEF trade reporting.
Errors & Omissions Handling - CSA is doubling down on definitions for significant errors and mandating follow-ups on submitted error reports, a shift from CFTC error handling.
Reconciliations & "Shifting Left" - Firms are prioritizing enhanced reconciliation efforts, moving upstream to the golden source of data, and addressing challenges in re-running reporting eligibility through reconciliation platforms.
A fantastic discussion that shed light on the evolving regulatory landscape, and we look forward to continuing these important conversations. If your firm is navigating these challenges, our team is here to help!
Scott Kerr, CFA
Managing Director, Regulatory and Business Transformation
skerr@botsford.com
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