6 Drivers for the Upcoming Regulatory Challenges with VERMEG’s James Phillips - Vermeg
6 Drivers for the Upcoming Regulatory Challenges with VERMEG’s James Phillips

6 Drivers for the Upcoming Regulatory Challenges with VERMEG’s James Phillips – Episode 8

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Hosted By Jawad Akhtar


James Phillips, Regulatory Reporting Strategy Advisor

Episode show notes

It’s been a few months since our last look at the regulatory landscape in the wake of October 2021’s Dear CEO, and with many regulations taking form and becoming more tangible, it’s a perfect time to rendezvous with our first guest on the podcast, James Phillips.


James, VERMEG’s fantastic Regulatory Strategy Advisor, has his finger on the pulse of 6 key areas in regulatory reporting, from cryptocurrency and its interesting connection to ESG, increasing regulation around digitisation, and much more.


We’re also looking ahead to the VERMEG Regulatory Reporting Conference on the 28th of September, so keep your eyes peeled on the VERMEG website to sign up.


This episode of The VERMEG podcast covers:

  • Cryptocurrency’s regulation, and considering the unlikely link to ESG
  • Digitisation and the Strong & Simple regime
  • Developments in UK Divergence
  • Other topics are set to become key areas tackled at our upcoming Regulatory Reporting Conference

Episode highlights

“Over the last 2-3 months, I’m seeing an awful lot of things starting to come together, regulations that have been in consultation or sandboxes beginning to result in discussion papers and outputs that are going to make traction.” – 2:45 – James Phillips

“We have in Europe the Digital Operational Resilience in Financial Services Regulation, regulating that if you’re going to go digital, it’s got to not fall over. So you’re looking at a business enabled environment. To come back to my three C’s, I really do think firms are now looking at the cost, compliance and convenience advantages of doing so in a managed and strategic way, rather than just buying one ad hoc solution.” – 7:56 – James Phillips

“Crypto and ESG: they’re not at all in the same bucket, but you’ll be surprised at the remarkable overlaps, not the least of which is how green is your crypto?” – 9:45 – James Phillips

“ESG integration into capital markets has been consulted on at the moment. Will they find their way into pillar one? Or will they just stay as disclosures in pillar three? We’ll have to wait and see. But there’s a lot of moving parts still, and a lot of issues around data quality. ” – 15:20 – James Phillips

“The intention is to identify a threshold below which, or a complexity framework, which would enable the firm to be taken out of the scope of the main regulation and put into scope of Strong and Simple.” – 18:40 – James Phillips