On September 17, the Jay Conference Center in Bryant Park played host to the Regulatory Environment Forum, presented by n-Tier and TRADEliance. Against a backdrop of increasing complexity and heightened regulatory scrutiny in financial markets, the event brought together executives from across the compliance, operations and RegTech landscape.
Across two major panels, breakout sessions and a networking happy hour, the Forum offered a timely space for professionals to gain insights on how firms are addressing today’s reporting challenges while preparing for the future of regulation. The half-day program was structured to balance high-level discussion with interactive peer exchange, underscoring the collaborative nature of the industry’s approach to compliance.
The opening discussion, moderated by Kat Miller, Founder and Managing Partner of TRADEliance, featured perspectives from both the buy side and sell side, as well as n-Tier’s regulatory experts. Panelists included Ian Park, Chief Regulatory Officer at n-Tier; David Emero, Head of Regulatory Reporting Product Strategy at n-Tier; Vince Cucci, Americas Head of Equity Compliance at Mizuho Securities and Mike Rudolph, Operations Director for Regulatory Risk & Control at RBC Wealth Management.
Panelists discussed a host of recent regulatory developments, such as SEC Rule 13F-2 and updates to Rules 605 and 606. They also highlighted the current status of the Consolidated Audit Trail (CAT), noting that affected firms are working closely with regulators to ensure reporting is as accurate and transparent as possible. Both FINRA and the SEC continue to raise expectations, pushing firms toward higher standards of supervision and comparative review.
“A lot of firms are having trouble not only having to adhere to the current state of reporting, but also preparing and educating themselves on new standards rolling in,” said Park. “With compliance teams increasingly pulled in both directions, the need for efficiency to maximize time and output is greater than ever.”
A central theme was the industry’s growing reliance on automation and centralized reporting systems. With trade volumes across several asset classes reaching unprecedented levels, manual review of every inconsistency is no longer feasible, and technology has become essential for identifying risks and maintaining compliance. Panelists emphasized that automation is not just an efficiency driver, but a force multiplier, enabling firms to meet complex and ever-increasing reporting requirements at scale.
The discussion also touched on the broader regulatory climate. Under the new administration, regulators have been more engaged and open to industry feedback, which was recognized as a positive development. At the same time, speakers noted that this openness has had limited impact in practice, since most firms are addressing compliance as a global challenge rather than tailoring processes to individual U.S. rule changes. While some uncertainty remains around specific U.S. regulations, participants generally agreed that this is having only a limited effect on how firms structure their long-term compliance strategies.
Following the opening panel, attendees moved into smaller breakout sessions for roundtable-style discussions. These sessions allowed for more interactive dialogue among industry peers, with conversations centering on the operational realities of compliance. Topics included the importance of data validation before submission, best practices for managing regulatory change and the tension between compliance requirements and front-office efficiency.
Participants shared approaches to creating internal audit trails, automating key reporting workflows and reducing reliance on manual oversight. The breakout format encouraged candid exchanges among two separate groups, with attendees comparing lessons learned from recent audits and enforcement actions. These discussions offered tangible takeaways, some of which could be applied immediately, as well as a comfortable environment to challenges and practical solutions in the fast-evolving regulatory landscape.
The second major panel, moderated by Jesy LeBlanc, Founder and Managing Partner of TRADEliance, brought together Peter Gargone, Founder and CEO at n-Tier; Ian Park, Chief Regulatory Officer at n-Tier and Brett Utnick, Director and Head of North America Technology & Operations Regulatory Solutions Group at BMO.
“When you look at wanting to do 10x the performance, the validation, if you can’t handle the data, you have no shot,” said Gargone. “The performance of your data layers is key and critical for you to be able to make the next jump, which is working with AI and advanced analytics that can give you a lot more surrounding the data.”
The conversation centered on how the need for regulatory validation has intensified over time and the infrastructure improvements firms are making to adapt. Panelists stressed the importance of maximizing the data already available, with many institutions moving toward more proactive validation of information before it is submitted to regulators. This not only improves accuracy but also strengthens internal confidence in the quality of reported data.
A key point of discussion was how firms can go about effectively validating and sampling data given the restrictions imposed by different regulatory frameworks. Panelists shared best practices for cross-desk validation, highlighting the need for collaboration between compliance, operations and technology teams to ensure consistency across the organization. This more holistic approach mirrors trends on the supervisory side; regulators are increasingly looking across the full scope of reporting requirements and various asset classes to ensure consistency at the firm level. The session reinforced that building stronger validation frameworks is becoming a cornerstone of modern compliance, reducing risk while enhancing transparency and efficiency.
The event concluded with a networking happy hour that extended the day’s conversations in a less formal setting. Attendees discussed recurring themes such as the costs of manual compliance, the benefits of automation and the need for resilient data infrastructure that can adapt to regulatory change.
Ultimately, the Forum underscored that compliance is not static, but constantly evolving. By highlighting both today’s reporting challenges and tomorrow’s opportunities, the program positioned n-Tier and TRADEliance as trusted partners in helping firms navigate complexity while shaping the future of regulation.
To explore these themes in further detail, reach out to us for a conversation
