Our practice note covers the proposed regulatory requirements and their expected impact on firms.  It is clear from the developing regulatory agenda that CRD 4 and the EBA's consultation go significantly beyond the existing COREP & FINREP requirements; as a result, the proposed new supervisory reporting requirements will require:

Significant evolution of existing governance, processes, data and systems within firms, which already use CoRep/FinRep (e.g., in Belgium, Germany, Luxembourg); and

Fundamental and onerous transformation for firms that do not yet use CoRep/FinRep (e.g., in the UK).

As the time frame for change leaves very little time for firms to implement the requirements, both regulators and industry practitioners are recommending to take pre-emptive action based on the expected regulatory requirements.

We hope that you find this practice note useful and informative.  As always, we'd be delighted to receive any feedback or questions you might have.

Please download a copy here