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

**Due to significant member demand, this workshop will be repeated on Wednesday 15 January 2024.  If you would like to reserve a place, please email secretariat@foreignbanks.org.uk**

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.

AFB is holding an in-person workshop in partnership with Kroll, to provide 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 in 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
• An understanding of key differences between trade reporting vs transaction reporting

Who should attend?

This workshop is aimed at practitioners who have responsibility for transaction reporting including front-line staff/traders. This will typically be compliance officers/ MLROs, risk managers, surveillance professionals and relationship managers with financial crime/market abuse responsibilities.

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).

Ana Teles, Senior Associate

And has over 15 years of experience in Banking and Financial Services. Prior to joining Kroll in 2021, Ana was head of transaction reporting at an investment firm. Ana has also worked in Operations and Settlement in retail and investment banks.

Logistics

Cost:        £255 + VAT

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

                 London, SE1 9SG

Date:        Tuesday 8 October 2024

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

Places:     Maximum of 22 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.