Episode 5: Mission IMpossible – the Compliance Process “Wheel of Pain”

In Episode 5 of our series on the latest thinking and best practices for the Uncleared Margin Regulations, Edmund Parker, Mayer Brown’s Global Head of Derivatives & Structured Products, and Chetan Joshi, Founding Partner of Margin Reform consider the 9 key steps in the Phase 4 and 5 compliance process, illustrated through the compliance ‘Wheel of Pain”.

Chetan and Ed look at Self-Disclosure – working out which Phase, if any, you fall under, and in which jurisdictions; Client Engagement – work out best way to get client data on key questions around UMR compliance; Rule Distillation –  ensure you go through the REG rules line by line; Legal Agreements; Custodial Onboarding; Technology – understanding the offerings of the various solution providers, utilities and vendors, and to what extent it is needed; Operations – do you have the necessary back-office set-up;  Optimisation – finding and using the best IM to post; and IM Model Ownership. 

(Running time: 31 minutes)