Non-compliance of the new regulatory rules would force a stop to trading; putting significant revenues at risk and loss of liquidity. Regulatory milestones required the negotiation of regulatory-compliant collateral agreements (I.e. ISDA agreements, CSAs) with dealer Banks and client counterparties. We supported our client on the negotiations — outreach, coordination and tracking. We worked alongside them to develop an innovative approach to contract generation and management in the face of uncertainty.
The solution had technology at its core, we reduced the time required to generate contracts by 75% when compared to the manual process, generating hundreds of contracts within minutes. This programmatic approach brought increased quality and consistency of client communications for contracting. Our process included less human interaction, and therefore increased efficiency and less errors introduced. We successfully delivered on the regulatory deadline and the client incorporated the project learnings into business as usual.
A global bank was conducting an internal investigation following a whistleblower allegation of a trader sharing confidential information and client positions with other banks. They needed to report on their findings to multiple financial regulators and have a clear understanding of their position.
We combined the data from multiple communications systems onto a single online review platform, where it could be seamlessly analysed, reviewed and compared. We made voice calls searchable and extracted key metrics from Instant Messaging conversations using our advanced Bloomberg processing suite.
We applied advanced analytics to pull out key themes and insights from the data and identify connections between individuals, which ultimately drove the direction of the investigation. We offered the client a combined team of technology, banking investigation and insider trading subject matter experts to accelerate the review. The insights from our review were continuously fed back to counsel and, ultimately, drove the disclosure of key information to the regulators.
A £2 billion lawsuit in the High Court of Justice claimed negligent audits lead to losses to their business. We were engaged to help understand the validity of various allegations in this claim. We obtained, restored and analysed data from eight different systems, and provided support to various industry experts, lawyers and, both internal and external Counsel. As a result of our work a settlement was reached for a fraction of the initial lawsuit amount.
We received very little technical documentation to interpret this data, so once we reverse engineered the key systems, we could profile the lifecycle and the changes to the business. Our PwC experience, technology and relevant expertise (including Valuation, Quantum, etc.) provided the defence team with valuable insight into the business.
The teams worked together to provide a software package which allowed for end-to-end workflow implementation as well as automated extraction and uploads to our legal documentation database successfully.