Minimum Contract Data Standards (EBA/QFC)

US and EU regulators have published differing proposals that will impose record keeping requirements on firms that will require them to maintain and store key contract data terms. These have arisen in the EU out of the implementation of the EU Bank Recovery and Resolution Directive and in the US was born out of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

Many firms have failed to ensure adequate filing and storage of their financial and non-financial contracts, let alone deal with proper recording and storage of the data within those contracts.

What we do

D2LT understands the complexities of the challenges that these differing requirements will pose and is able to give expert advice to help firms organise themselves in order to be ready to meet these challenges.