Panel: EU Data Reg ‘Monster' Yet to be Tamed
Firms are struggling with competing demands from regulators.
Ulf Klebeck, general counsel at Woodman Asset Management, who moderated a panel reviewing the current European regulatory landscape, questioned what European regulators are actually doing with all the trade-related data deemed necessary for firms to capture and store.
Konstantinos Botopoulos, member of management board at ESMA, cited four key reasons why firms are required to hand over so much information. "First of all, [because] ... we believe that more reporting will lead to more transparency
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