Why firms need to plug into 'new' tech to comply with Market Abuse Regulation

How far should firms take their strategies?

The deadline for Market Abuse Regulation (MAR) implementation is nearly here, and financial services firms are investing a considerable amount of money to meet the requirements. Rabya Anwar, principal regulatory advisor in KPMG's financial risk management practice, looks at how far firms should take their strategies

The idea of plugging into machines to foresee crimes and arrest suspects before they are committed were fantasies found in 1950s science fiction tales such as The Minority Report. Even though technology has made tremendous progress since then, firms are still struggling with some core IT and data challenges they face in the implementation of the new regulatory regime. The requirements of MAR will take effect on 3 July. The regulation is being issued by the European Securities and Markets Authority (ESMA) and is accompanied by the Directive on Criminal Sanctions for insider dealing and...