Thomson Reuters Annual Report: Helping Financial Institutions Comply with New Regulations
In today’s regulatory environment, the financial services industry may be among the sectors dealing with the most significant changes, with additional changes in the rules likely still ahead. Where does that leave leaders of financial institutions as they grapple with how to stay ahead of the quickly altering landscape?
Consider how Thomson Reuters and global law firm Clifford Chance joined forces to solve a particularly sticky problem for banks.
In 2016, new regulations were introduced in the over-the-counter (OTC) derivatives market that required banks to hold extra collateral or margin to cover the risks associated with uncleared derivatives transactions. To comply with these new rules, financial institutions faced the enormous task of re-working existing derivative contracts with counterparties as well as reframing all new contracts.
In its 2016 annual report, The Partnership Equation, Thomson Reuters described how it collaborated with Clifford Chance to help global financial clients comply with these new rules more quickly and at less cost.
For more on this story, visit the Legal Executive Institute blog.
