Regulation As Driver
David Blaszkowsky, senior vice-president at State Street, says regulatory changes have pushed data issues to the fore

What regulation, in your view, is most impactful for data management at this time?
Choosing a single "most impactful" regulation is difficult as they have all changed how we operate, usually profoundly, and will continue to affect us into the future. BCBS 239 has raised data governance to a board-level priority; legal entity identifiers, required for an increasing number of purposes and jurisdictions; and KYC/AML, AIFMD, CCAR, EMIR requirements are bringing attention to the full set of data operational issues. However, in time, as the regulatory-driven changes are incorporated into new products and services, we may appreciate better their impact.
Is regulation in general the biggest factor driving data management or governance changes?
The financial crisis, and the regulatory response, changed everything for all things "data." Regulation has been most influential by creating a high level of urgency around data activities that were already considered important, but which may have been on a slower, more selective, or more discretionary track from a purely business value perspective. It really has brought data, as differentiated increasingly from technology, to the "top table," and has established data governance as a discipline and a profession.
Have new regulations been manageable for firms' data operations staff?
Regulation has affected how we do business, and there is a burden associated with change. While this wave of regulation has been intense, it has also challenged institutions to make more fundamental improvements, some long known, to the management of data. Some of these, such as the designation of trusted sources of reference data, and the development of formal data steward communities, promise large and durable benefits, and tangible value, both for data practitioners and our customers in our businesses.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
Doing a deal? Prioritize info security early
Engaging information security teams early in licensing deals can deliver better results and catch potential issues. Neglecting them can cause delays and disruption, writes Devexperts’ Heetesh Rawal in this op-ed.
SEC pulls rulemaking proposals in bid for course correction
The regulator withdrew 14 Gensler-era proposals, including the controversial predictive data analytics proposal.
Trading venues seen as easiest targets for Esma supervision
Platforms do not pose systemic risks for member states and are already subject to consistent rules.
The Consolidated Audit Trail faces an uncertain fate—yet again
Waters Wrap: The CAT is up and running, but with a conservative SEC in place and renewed pressure from politicians and exchanges, Anthony says the controversial database faces a death by a thousand cuts.
Exchanges plead with SEC to trim CAT reporting requirements
Letters from Cboe, Nasdaq and NYSE ask that the new Atkins administration reduce the amount of data required for the Consolidated Audit Trail, and scrap options data collection entirely.
EU banks want the cloud closer to home amid tariff wars
Fears over US executive orders have prompted new approaches to critical third-party risk management.
Friendly fire? Nasdaq squeezes MTF competitors with steep fee increase
The stock exchange almost tripled the prices of some datasets for multilateral trading facilities, with sources saying the move is the latest effort by exchanges to offset declining trading revenues.
Europe is counting its vendors—and souring on US tech
Under DORA, every financial company with business in the EU must report use of their critical vendors. Deadlines vary, but the message doesn’t: The EU is taking stock of technology dependencies, especially upon US providers.