RegCast

If You Cannot Explain It, You Cannot Defend It Supervisors are testing decision paths. Most firms are not ready. MiFIR reporting is no longer judged by what gets submitted. It is judged by whether firms can prove how the decision was made. Supervisors are asking more pointed questions, comparing data across regimes , and exposing weaknesses in governance , lineage , and control . Most firms are st...

AI infrastructure is no longer politically neutral. A leaked diplomatic cable suggests data sovereignty has moved from regulatory debate to geopolitical confrontation. For financial institutions, this raises a harder question than data residency: which law executes inside your AI stack? Sovereignty now lives in the control plane: who holds the encryption keys, who can compel access , whether servi...

The fines are no longer theoretical. Supervisors are already penalising weak reporting controls, inadequate governance and fragile operating models. Not for misconduct. For failure to demonstrate control. And this is before large-scale AI supervision has fully arrived. AI pilots are moving into production across capital reporting, AML, surveillance and resilience. The legal and technical obligatio...

MiFIR reporting reform is no longer something firms are preparing for. Live inspection has started. Regulators are now correlating MiFIR data against prudential and statistical views of the same activity, turning divergence into evidence and data quality into a supervisory judgement. This is happening while core reporting systems remain operational, leaving little room for trial-and-error change....

Supervisors are rebuilding reporting from the ground up. Regulators are moving away from prescriptive templates toward model-based reporting built on granular data, shared semantics, and provable lineage. This shift promises better data quality and faster insight, but it also forces firms to make hard architectural and governance decisions now.  In this episode, regulatory and industry leaders exp...

2026 marks a decisive shift in financial supervision. The focus has moved from regulatory pressure and compliance narratives to supervisory testing based on evidence. Governance is no longer judged by frameworks or stated intent. It is examined through how systems behave in practice, how decisions are made and overridden, how data quality is sustained under change, and whether architecture holds u...

The financial markets run on data and after30 years of FIX messaging, trust in that data is under pressure. 91% of firms report fragmented systems.70% link that fragmentation to compliance risk. In this episode of RegCast , PJ Di Giammarino sits down with Jim Kaye , Executive Director of the FIX Trading Community, to discuss how AI, open standards, and smarter governance can FIX trust at the sourc...

Episode 5: MiFIR Divergence 2026: The Race to Rebuild Reporting Control Europe’s reporting machine processes 15 billion trades a year. In October 2025, ESMA froze 115 Level-2 acts while the UK FCA pressed ahead with Digital Regulatory Reporting and new MiFIR standards for 2026. The result: two rulebooks, two control philosophies — and billions in added cost. In this RegCast episode, PJ Di Giammari...

91% fragmented. 70% report compliance failures. As ⁠Connectivity in the Age of AI reveals⁠ , the buy side’s wiring is broken, and AI is making the cracks impossible to ignore. Execution economics are collapsing, clients demand transparency, and supervisors are embedding ICT and data risk directly into Pillar 2 capital. In 2026, that means a 0.5% surcharge — wiping out 10 to 15% of ROE — is no long...

Episode 3: Building for Control — MiFID III, DRR, and the Architecture of Trust On 23 July 2025, the FCA issued its second major warning in 180 days. Market Watch 82 makes it clear: firms must fix the quality of their transaction reporting data or face escalating consequences. In this episode of RegCast, PJ Di Giammarino is joined by Dawd Haque (Deutsche Bank, Chair of the Bank of England and FCA’...

MiFID III Reset: Why Transaction Reporting is Being RethoughtReporting now affects your capital. Are you sure your data looks 'good enough'?In this RegCast Short, PJ Di Giammarino explores why transaction reporting is under pressure and what MiFID III’s pause on RTS 22 and RTS 23 really signals.▶️ What regulators really want from reporting▶️ Why legacy infrastructure is no longer fit for purpose▶️...

MiFID III Reset: Why Transaction Reporting is Being RethoughtIf we had known it would end up here, would we have built it like this? In this RegCast Short, PJ Di Giammarino explores why transaction reporting is under pressure and what MiFID III’s pause on RTS 22 and RTS 23 really signals. ▶️ What regulators really want from reporting ▶️ Why legacy infrastructure is no longer fit for purpose ▶️ How...

MiFID III is no longer just a compliance update. It’s a regulatory reset with capital and architecture implications. In this episode, PJ Di Giammarino speaks with Dawd Haque and Grant Haley about ESMA’s pause on RTS 22 & 23 for transaction reporting and reference data, the rise of DRR, and how poor data quality is now priced into regulatory risk. Learn why firms must rethink reporting strategy...

RegCast brings you behind the scenes of global financial regulation. Hosted by PJ Di Giammarino, CEO of RegRisk Legal Solutions, it features expert voices from regulators, firms and suppliers. From DORA to AI, RegCast explores how leaders are turning compliance into strategic advantage. Get ahead of the curve and gain insight before the market takes notice.

RegCast returns with Season 6 and a bold new mission.   In this special launch episode, host Corrina Stokes sits down with PJ Di Giammarino, Founder and CEO of RegRisk Legal Solutions — the evolution of JWG Group. Together, they unpack why 2025 marks a regulatory tipping point and what firms must do to stay ahead. 💡  In this episode • Why JWG became RegRisk Legal Solutions • What Agentic Complian...

With DORA’s deadline fast approaching, financial services and their tech partners are in a countdown to meet Europe’s most rigorous resilience standards.   In “Deadline DORA,” we explore how global technology suppliers are preparing to shoulder DORA’s compliance load, redefining the supply chain into a resilient partnership model that meets strict oversight and transparency demands. Monica Sasso,...

RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities. Failing to address your organization’s digital resilience before the deadline could result in serious regulatory fines, reputational risk, supplier conflicts and even criminal liability. But regulatory regimes, norms and enforcement varies and CEOs may rightfully ask about the...

In the wake of significant IT failures and looming regulatory deadlines, operational resilience has moved to the forefront of boardroom agendas. RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities. Failing to address your organization’s digital resilience before the deadline could result in serious regulatory fines, reputational...

In the wake of significant IT failures and looming regulatory deadlines, operational resilience has moved to the forefront of boardroom agendas. RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities. In this episode, Sam Tyfield, a financial services lawyer, and PJ Di Giammarino, CEO and founder of JWG, discuss the implications of...

In the wake of significant IT failures and looming regulatory deadlines, operational resilience has moved to the forefront of boardroom agendas. RegCast Season 5 offers a deep dive into the evolving landscape of risk management as dictated by regulatory authorities. This season is a must-listen for financial industry professionals who need to understand the shifting dynamics of 'business as us...

As financial institutions face increasing pressure from regulators and customers to ensure transparency and ethical behavior, the importance of surveillance RegTech has grown exponentially. But what drives the adoption of better technology? Is it fear of regulatory fines, greed for profit, or a genuine focus on customer safety? Episode 6 of RegCast Season 4 explores the 2024 surveillance forces in...

Regulators are doubling down on data quality and post trade reporting as 8 countries are switching to new derivatives reports this year. Firms are mutualising efforts and leveraging the open source Common Domain Model to de-risk the implementation and leverage “common glue” to better understand their risks. This is a big step up for firms amongst a large amount of change. Will firms adapt their te...

AI is in the policy makers’ sights and European regulators took a big step towards implementing tough new Digital Operational Resilience standards this month. It's not just one technology risk that regulators are keeping an eye on, there are dozens of new rules that apply to tens of thousands financial institutions and their suppliers. Everything from Cloud to Cyber and Quantum is on the RegRa...

Rethinking ESG regulatory reporting  becomes a critical board-level challenge. Regulatory standard setters have been actively shaping the landscape and defining what “good green data looks like”. Implementation of new XBRL templates kicks off in 2024 and has pushed ESG data plumbing to the top of the open source standards list as financial institutions search for a way to create an auditable path...

ESG and climate standard setters have been busy. Boards face an alphabet soup of voluntary, industry, regulatory bodies which are defining how ‘green’ they are. New capabilities are required in 2024 to manage the deltas between the languages being used to describe ‘what green looks like’ to an auditable standard.   Large firms caught by EU regimes are facing very tight reporting Implementation dea...