CSDR: The Next Regulatory Challenge for the Post Trade Securities Industry
Moderator: Paul Janssens, Programme Director, SWIFT
Paul Baybutt, Senior Product Manager, HSBC
Mariangela Fumagalli, Head of Asset Servicing Global Product & Regulatory Solutions, BNP Paribas Securities Service
Anna Kulik, Secretary General, ECSDA
Sachin Mohindra, Executive Director, Goldman Sachs
The Settlement Discipline Regime (SDR) is an important part of the Central Securities Depositories Regulation (CSDR). It focuses on the implementation of late matching and settlement fail penalties and the management of the mandatory buy-in process. With the official launch date that could be pushed by one year to February 2022, come and listen to our panelists who are representing some of the key intermediaries in the securities post trade landscape to understand the main challenges that they are still facing.
Senior Product Manager
Paul Baybutt is one of the leading industry experts on CSDR. He has worked for HSBC for six years in the capacity of Senior Product Manager, Middle Office outsourcing. He has over 30 years experience of working in and working for buy-side operations where he has be instrumental designing the HSS global operating model as well as the global model for a number of organisations including BNP Paribas and FFTW his two previous companies. His vast experience has resulted in him playing a significant role in representing the European buy-side industry in determining best practice, implementing regulation and advising on buy-side needs. He is currently a member of the European Central Banks Advisory Group on Market Infrastructure, Securities and Collateral where he represents the UK Investment Management community. He is also on the ISITC Europe board, a member of the Irish Funds Forum Middle Office and Derivatives working group. He chairs the Investment Association’s Post Trade Committee and represents the European Fund and Asset Management Association (EFAMA) on the CSDR Industry Working group.
Head of Asset Servicing Global Product & Regulatory Solutions
BNP Paribas Securities Service
Mari Fumagalli is the head of the asset servicing product team responsible for BNP Paribas’ asset servicing offer for both global and direct custody, covering CA, income, proxy voting, class action and tax. Mari is also responsible for the regulatory adaptation of our custody service offer, currently working on CSDR and SRDII. Mari previously held various position within product and operational teams in the UK, after joining Securities Services in 2001. Mari is the co-chair of the UK and Ireland CA National Market Practice Group and also the co-chair of the SMPG Corporate Actions Working Group.
His current role includes facilitating and managing the adoption of international standards such as ISO 20022 by the financial market participants and regulators to comply with regulatory reporting requirements as well as addressing impacts from regulation on the financial market operations and related standards. He is also responsible for the ISO registration authority of the reference data standards. Paul has more than 18 years of experience in reference data management and ISO data standards across both operations and marketing. He led the LEI initiative from the early stages of developing the standard through to the implementation in partnership with DTCC of the largest accredited LEI issuer to date (the GMEI Utility). Previous experiences include delivering different strategic financial industry wide initiatives and Group Treasurer. Prior to joining SWIFT, he worked at Societe Generale.
Anna is Secretary General of the European Central Securities Depositories Association (ECSDA). She is a lawyer by background and holds a Master in European law and a multidisciplinary Master in Law and Economics. Anna started her career at the general secretariat of one of the political parties at the European Parliament. Since then, she has gathered an extensive experience of the CSD industry. She was Head of the outsourcing control group and operating risk committee of an International CSD. From 2010 to 2017, Anna worked for Strategy and Government Relations of Euroclear group. During her career, she has also advised an Asian regulator and its financial market infrastructure about changes allowing international access to the market. She also gave lectures on international financial regulation to university students during her stay in Asia.
Sachin has over 15 years of extensive experience at Goldman Sachs, where he has covered a variety of cross-product post-trade roles including securities settlement, client middle office and trading control. Sachin is now responsible for European securities post-trade business development at Goldman Sachs. Sachin is the co-chair of the AFME Post-Trade Transaction, Clearing & Settlement Committee and chair of the CSDR Task Force. Sachin is an active member of the ICMA, ISLA and Cross-Industry CSDR working groups. He has also co-chaired the AFME T+2 Task Force and lead the publication of the industry-wide AFME TARGET2-Securities (T2S) recommendations paper. Sachin is also an advisory board member at EuroCCP and participates in various LCH working groups. Sachin holds an Honours degree in Computer Science and Management from the University of Edinburgh
This webinar is sponsored by: