Understanding the common pitfalls in derivative trade reporting, the “Blackspots” identified by ASIC (as discussed in our previous article), is crucial. However, identifying the problems is only the first step. Building truly defensible reporting requires implementing effective strategies to address these weaknesses head-on. This article will provide high-level strategies for…
Building on our previous discussion about the critical importance of robust governance and proactive self-checking in derivative trade reporting (as explored in “The Governance Gap: Why Businesses Must Strengthen Derivative Reporting Assurance”), this article dives into the specific areas where businesses are encountering challenges. While a strong governance framework is…
Robust governance and internal controls are fundamental necessities in the complex financial regulation landscape. This is particularly true for derivative trade reporting, especially following the significant ASIC rule changes in October 2024. While the industry adapts, a critical observation from the regulator highlights a concerning “governance gap”: many businesses are…
