How can you use e-Reg, a RegTech tool, for your consultations and impact analyses?

The prudential authorities regularly launch consultations with the banks. This is the case when there is a change in the text of a law, a FINMA ordinance, etc. The financial services sector also carries out impact analyses in response to regulatory changes. The aim here is to measure the consequences of these changes for the bank’s internal operations. In both cases, RegTech helps these professionals to structure their reflections and analyses. Find out how to manage your regulatory consultation or impact study strategy using e-Reg.

1 – e-Reg, our RegTech tool for Switzerland

The e-Reg platform is a RegTech solution specially designed for Swiss financial services players involved in financial regulation.

1.1 – RegTech, technologies at the service of financial regulation

RegTechs offer solutions based on the latest technologies to make it easier for financial institutions to achieve and maintain compliance. There are many practical applications, which we detail in our article defining RegTech and outlining its strengths.

These Tech companies exploit Big Data, artificial intelligence, machine learning and biometrics. They also use automation and secure workflows. These technologies make it possible to analyse and process large quantities of information and data. This is the case for financial regulation. Its content is very dense and constantly changing. This is why e-reg, the Swiss RegTech tool, is designed to simplify regulatory work.

1.2 – e-Reg functionalities: practical benefits for employees in the financial services sector

Our RegTech solution includes a wide range of functions, from searching for information to managing libraries or a regulatory change project, for example. From knowledge management to collaborative strategy, read our article describing all the possible uses of e-Reg.

The various actions proposed contribute to:

• Saving time for those responsible for regulatory issues, and therefore reducing compliance costs;
• improved efficiency and reduced risk of non-compliance;
• Simplification of financial regulations, with all texts accessible in a single, digital location;
• improved knowledge and transmission of regulatory knowledge;
• facilitating regulatory activities in project mode as part of a regulatory change or consultation.

2 – Using RegTech for consultation as part of a regulatory project in Switzerland

The Federal Council, the FDF or FINMA, for example, may decide to launch consultation procedures with a view to amending legislation, ordinances or circulars. The financial services industry can contribute by responding to this type of consultation.

2.1 – Example of a consultation: draft amendment to the Capital Adequacy Ordinance

In the event of a regulatory consultation, the question arises of how to document and manage the work internally. We explain our methodology using a recent example: the consultation on the amendment to the Capital Adequacy Ordinance (CAO).

On 4 July 2022, the consultation process opened to incorporate the final Basel III provisions into Swiss law. When the Federal Department of Finance published the amendments of the Capital Adquacy Ordinance on 29 November 2023, it took into account some of the feedback received during the consultation.

2.2 – Organising the consultation: the solution proposed by e-Reg

Our RegTech tool includes a function for adding comments. This means that financial services can analyse and express their point of view on the subject of each consultation. Any bank is free to decide whether or not to take internal action to participate in the consultation. With e-Reg, each bank can easily gather all the opinions of its internal stakeholders. It can then aggregate them easily using the tool and without delay.

2.3 – Example of comments generated as part of a regulatory consultation

Continuing with the example of a consultation relating to the amendment of the CAO, here is how to proceed on the e-Reg platform.

a – Search using the keyword “pCAO“

The user enters the expression “pCAO” in the search engine. You will obtain all the information on this consultation, including for example :

The window on the right of the screen shows the comments already created on this item 4b “Portefeuille de la banque”. At the bottom of the same window, employees who have access to e-Reg can click on “add a comment” to take part in their bank’s internal consultation.

b – Monitoring comments generated by e-Reg as part of this consultation process

Each user then has access to a dashboard for an overall view of actions and comments. By typing “pCAO” again in the search bar on this page, e-Reg displays all the comments created. All these comments can be exported to Excel (see 3.3. below).

3 – Managing the impact analysis of a new financial regulation with e-Reg

Our RegTech tool makes it possible, in the same way as for a consultation, to record employees’ analyses and opinions on a regulatory change when it is implemented.

3.1 – Gathering comments from within the banking institution

The aim of the study is to estimate the impact of changes to the regulatory framework on a bank’s internal operations. This collaborative function facilitates consultation and the sharing of information and analyses. Our system concentrates all the information in a single, collaborative dematerialised space.

The tool allows users to be mentioned in order to gather their input on a particular point.

3.2 – Example of a comment added to our RegTech tool

During the implementation of the new FINMA circular 23/01 on operational risks and resilience, here is a comment added to the platform for marginal number 101 :

As with a consultation, the responsible of the impact study can lists all the comments and analyses made by contributors on his dashboard:

Each e-Reg user can export all their comments to Excel (see below).

3.3 – Additional e-Reg functionality: exporting comments

The person responsible for the regulatory consultation project or impact assessment can easily export all comments to Excel. This is useful for reworking them. It’s also handy for preparing reports, particularly if several departments are involved.

e-Reg’s collaborative features are ideal for gathering opinions and comments. Whether it’s a question of consulting the authorities or analysing the consequences of a new regulation, adopting RegTech simplifies the process. To get a better idea of how our e-Reg solution makes your regulatory work easier, why not arrange a personalised demonstration of the tool?