Dodd Frank, Basel III, MiFID II, OTC clearing and data repository rules are just a handful of the new or changing regulations financial services firms must get to grips with over the next few years.

While the markets are well aware the horizon is littered with complex regulatory changes, questions remain around the end-state of many of these regulations. With the not-so-finer details for some regulatory initiatives still up in the air, the commercial, operational and technical impact on both businesses and the markets themselves are far from clear.

Shedding light on the unknown

Amidst all of this uncertainty and upheaval, there is an opportunity for market participants with the relevant knowledge, insight and expertise to set themselves apart from the crowd. Those who can shed light on what the future could, and should look like by interpreting regulatory changes for peers, clients and other interested parties can elevate their position in the market.

Indeed, with journalists under more pressure than ever before, many simply do not have the time to become experts in the rule of law. And how could they? It takes years of on-the-ground expertise and past experience of previous rule changes and the effects these had on the markets over time to be able to talk on these regulations with real authority.

Many financial services firms will have this base of knowledge and experience in-house, built up by key personnel as they perform their daily roles. The question is: how can firms harness this base to raise their profile in the industry and highlight the valuable insights that enable them to provide a superior product or service to the markets?

Channelling your knowledge

While this might sound like a mean feat, there are a number of ways in which you can channel this knowledge.

One great option is to really go for broke, by producing articles and white papers that look in detail at implementation requirements, effects on businesses and how firms can differentiate themselves and stay ahead under a new set of compliance requirements. Drilling down into regulations in this way really showcases the depth of a firm’s expertise.

The ability to inform the market in this way is a key competitive differentiator. It provides an opportunity to underline how your firm’s products and services can ensure compliance in the here and now while future-proofing clients and prospects against the regulatory changes that will no doubt continue to cloud the financial services horizon for years to come.

Cutting through the regulatory agenda in this manner requires real commitment, but the effort can pay dividends and result in great media coverage. Furthermore, these articles often provide reference guides for news-focused journalists and credibility for your key spokespeople as being an authority on the subject in question. This content can also be repurposed for marketing uses and developed as collateral for sales meetings and events; in short it’s a great way to get a lot of bang for your buck.

Sustaining your campaign

Once credibility has been built up, it is vital to continue to tap into the news agenda, keep track of any developments and most importantly, the journalists and media covering it. Delivering organised campaigns around key milestones, such as the date a consultation paper is released, or providing a six-month countdown until implementation coupled with the ability to react quickly to less expected breaking news can lead to top-tier coverage in the international financial business press.

Quite often, stories surrounding specific regulatory reform just run and run, take MiFID and MiFID II as an example. And with journalists busier than ever before, there is a great opportunity for you to become their ‘go-to authority’ on a particular subject time and time again.

Here at Aspectus PR, we have proved that if financial services firms can help the market see clearly through the regulatory fog, they have the opportunity to elevate themselves from being simply another supplier to the position of real authority in their space.

 

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