{
  "docId": "019dd923-5e88-73ef-bd58-07b375a7cd5b",
  "docSlug": "335ba522863769dc",
  "documentTitle": "Banking and capital markets trends 2020: Laying the foundations for growth",
  "authorId": "PwC",
  "authorName": "PwC",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.414,
  "pageNumber": 78,
  "pageCount": 88,
  "prevPage": 77,
  "nextPage": 79,
  "slideType": "industry_trends",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd58-07b375a7cd5b/78",
  "deckHref": "/decks/019dd923-5e88-73ef-bd58-07b375a7cd5b",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd58-07b375a7cd5b.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd58-07b375a7cd5b#slide-78",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.05,
        "y": 0.62
      },
      "kind": "list",
      "text": "Internal audit focus\nCompliance with clearing obligations.\nEntity categorisation.\nProcess which identifies which derivatives transactions will be subject to centralised clearing and those that will not be.\nExistence of agreements including collateral arrangements with clearing members.\nPolicies/procedures in relation to posting of collateral in compliance with agreements and regulations to clearing members.\nSystems connectivity and processes.\nManaging counterparty risk against clearing members and central counterparty clearing houses (CCPs).",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "292357df-1500-4d13-8441-a61dc7f2e78c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.45,
        "x": 0.52,
        "y": 0.45
      },
      "kind": "list",
      "text": "Disclosures in relation to investment strategies and engagement policies are not sufficiently articulating how they are supportive of long-term value creation.\nCulture not sufficiently conducive to effective stewardship.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "65ed5f9e-4cc1-44d9-b72f-a742f2ce6baf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.45,
        "x": 0.52,
        "y": 0.62
      },
      "kind": "list",
      "text": "Compliance with the revised Shareholder Rights Directive, including required transparency and disclosures.\nDesign of engagement policies articulating the long-term value creation.\nLevel of involvement of shareholders in corporate governance.\nIdentification of additional information on investment strategies that need to be disclosed and how this information is obtained",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a4ecdc96-54ca-4c2b-ac7b-49606edc2a34",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.45,
        "x": 0.05,
        "y": 0.45
      },
      "kind": "list",
      "text": "Key risks\nCategorisation of entity type and compliance with clearing obligations.\nPosting of collateral.\nCounterparty risk.\nElectronic systems and processes, IT risks.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e4f5639a-48bd-4158-bbd9-2acd7b427099",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.05,
        "y": 0.22
      },
      "kind": "paragraph",
      "text": "Clearing obligations",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "26a31aab-a4bf-4c67-8c71-baa3e65de482",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.45,
        "x": 0.05,
        "y": 0.26
      },
      "kind": "paragraph",
      "text": "EMIR is the regulation in place which requires certain types of OTC derivative transaction to take place through a clearing house. EMIR came into force in August, and the clearing obligations came into effect in June 2016. The clearing obligation applies to derivative transactions entered into between financial counterparties ('FC') and non-financial counterparties who exceed the clearing thresholds (NFCs) (any combination of them), subject to certain exemptions. EMIR REFIT introduces a new clearing regime by creating new category of small financial counterparties which will be exempt from clearing obligations, expanding definition of FCs, reduced clearing obligations for NFCs and removal of front loading requirements.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6d75c68a-86a5-4567-82a3-64fd28ae8e97",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.52,
        "y": 0.22
      },
      "kind": "paragraph",
      "text": "Shareholder Rights Directive II",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bc00c522-eae2-47fa-b84b-50f3c39f8726",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.45,
        "x": 0.52,
        "y": 0.26
      },
      "kind": "paragraph",
      "text": "Stewardship is attracting unprecedented levels of attention among regulators. The revised Shareholder Rights Directive (SRD II), which took effect from 10 June 2019, forms a core part of this agenda. SRD II introduces new requirements on asset managers and institutional investors to disclose engagement policies on a 'comply or explain' basis, and disclose how their investment strategy will contribute towards the creation of sustainable value.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e319b2f2-a418-43c5-8f8a-818f9b308068",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.06
      },
      "kind": "title",
      "text": "Further regulation – Other asset and wealth management specific regulation",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1aff4b80-7d49-4834-b2ea-15d3d9098dd8",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "fdaf5d2b-bf3c-4308-b352-1f59193faf95",
      "evidence": "list/bullet: Internal audit focus for FRTB and CSDR",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 83,
      "from": 67,
      "beatId": "b0f82936-015c-49b3-b971-e0992d5219eb",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": null,
      "evidence": "The document offers insights and implications for firms, including the need to understand and address key themes and risks.",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}