Northern Trust: Data Optimization is Top Priority to Help Institutional Investors Benefit from Regulatory Change

White paper series with Economist Intelligence Unit focuses on data-driven solutions

The introduction of two major data-related regulations in 2018 changes how institutional investors and their financial services providers will manage their data needs and optimize their use of data going forward, according to new white paper sponsored by Northern Trust. The paper, Navigating Regulatory Shifts with Better Data, is one in a series of thought leadership pieces from Northern Trust in conjunction with The Economist Intelligence Unit.

The white paper reviews a slew of global regulations, led by the implementation of Markets in Financial Instruments Directive II (MiFID II) and the General Data Protection Regulation (GDPR) in the first half of 2018, both of which impose stringent record-keeping, data management, privacy and transparency requirements on many participants in financial markets.

"Whilst compliance with legislation is paramount, the benefits of an effective data management strategy go well beyond regulatory compliance," said Penelope Biggs, Chief Strategy Officer for Corporate & Institutional Services at Northern Trust. "Both investors and financial services providers have the potential to reap significant rewards from a service, capability and reputational standpoint."

According to the white paper, the opportunity to capitalize on regulatory change is truly global. While MiFID II and GDPR were legislated in the EU they apply to organizations that conduct business in Europe from other jurisdictions. Regulatory changes in other markets like Australia, Canada, China, Singapore, South Korea and United States will present additional challenges and opportunities.

"It is this need for data-driven regulatory solutions across the globe that has inspired Northern Trust to dedicate significant resources toward building an extensive range of services to support clients in this area," said Biggs. "Our services range from transaction reporting (for EMIR, MIFID II and ASIC) and tax reporting (FATCA, CRS), to regulatory reporting (Solvency II, FTK, RG 97, NPORT) and cost transparency reporting (transaction cost reporting for MIFID II and PRIIPs). As this white paper shows, the need for data-driven regulatory solutions isn't going away so we are working hard to help our clients achieve the best possible operational and commercial results from managing their data."

Northern Trust's white paper series is designed to provide clients with constructive solutions to pressing data management challenges. Forthcoming papers in the series will focus on governance, predictive analytics and artificial intelligence. To read this month's paper that highlights data management and regulations like GDPR and MIFID II, click here.

About Northern Trust

Northern Trust Corporation NTRS is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2018, Northern Trust had assets under custody/administration of US$10.7 trillion, and assets under management of US$1.1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.

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