Global Custodian Fall 2018

global custodian sibos special i i  FALL 2018 END OF THE GREAT RE-REGULATION THE RELENTLESS STREAM OF REGULATIONS POST-LEHMAN IS OVER, NOW IT’S TIME TO START FOCUSING ON BUSINESS DECISIONS. moke is beginning to appear from the old regulatory acronym generator after the implemen- tation of MiFID II, AIFMD, PRIIPS, EMIR, GDPR, and the list goes on. These G20-led regulations have come to fruition thick and fast, as regulators look to live by a new mantra of YOFCO (you only financial crisis once). But consider this, SFTR, CSDR and SRD II are coming into force further down the line towards 2019/2020, while regulations on ESG and revisions in EMIR II, AIFMD II and MiFID III are all years away. This means a huge gap in the regulatory calendar, end of the great re-regulation and the start of a time where resources, time and money can be spent on business-led decisions and innovation. S cont. page 22 banks and broker-dealers looking at the cost of custody, clearing and settlement. Finally, changes in investor behaviour, regulations, and technology are having a rippling effect on the operating and outsourcing models that service providers will offer. We dive into all these topics and more in our client focus features. Survey iversification at hedge funds has seen the rise of new asset classes, meaning new challenges and a change of gameplan for service providers. At the same time MiFID II has encouraged firms to look closer at their pre-trade and execution costs through total cost analysis. This is now evolving with more asset managers, D MAJOR CLIENT CHANGES AHEAD NT J OR A M BANKS IN PLUS CUSTODIAN CONSOLIDATION | Digital Asset talks ASX blockchain project | GETTING THE MOST OUT OF YOUR DATA | CAP INTRO DOWNSIZING