The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

AxiomSL Expands Global Shareholding Disclosures Solution

Regulatory reporting specialist AxiomSL has significantly expanded its Global Shareholding Disclosures Solution with the launch this week of its Sensitive Industries module covering over 600 rules across more than 80 countries. Developed in consultation with clients and partners, the new module attempts to address two key challenges that investment management organizations face in monitoring sensitive industries compliance: the breadth of rules coverage, and industry classification.

Sensitive industries regulation covers investment ownership in areas like media, defence, aviation, and energy deemed critical to a jurisdiction’s sovereignty. Unrelenting changes across the asset management landscape from industry consolidation to COVID-19 market disruptions have contributed to the growing prevalence of sensitive industries monitoring rules. These include continuous changes in ownership thresholds and requirements to obtain regulatory pre-approvals before certain investments may take place.

Financial firms must be able to deal with the complexities that arise from multiple, overlapping rules coming from regulatory bodies outside of traditional investment supervision. They must also accurately monitor their equity holdings in designated sensitive industries, ensure prohibited equities are not traded and respond quickly to rule changes. With no single source of comprehensive rules and reliable industry classification information, this can be a major challenge – especially when using manual, resource-intensive processes.

The new Sensitive Industries module from AxiomSL expands its solution to incorporate both industry and sub-industry codes into its EquityView data dictionary architecture, enabling a higher degree of accuracy around industry classification tagging. Clients can configure foreign and local jurisdictions according to the entity group’s location, thereby triggering relevant rules, while dashboards allow visibility into multiple types of notifications, including pre-approval checks and proximity alerts.

“Providing a wide range of rules coverage and enhancing the data dictionary with GICS and other industry classifications necessary to correctly monitor sensitive industries, will enable financial firms to invest with confidence,” says Gaurav Chandra, Global Product Manager, Global Shareholding Disclosures.

Related content

WEBINAR

Recorded Webinar: The UK’s New Prudential Regime for Investment Firms – Time to Prepare!

With the implementation of the new Investment Firms Prudential Regime (IFPR), the FCA is aiming to streamline and simplify the prudential requirements for solo-regulated investment firms in the UK. Under the new regime, all MiFID authorized, Collective Portfolio Management Investment Firms (i.e. UK UCITS ManCo and Alternative Investment Fund Management Firms permitted to undertake Additional Activities)...

BLOG

FundGuard $12 Million Raise to Address Regulatory Stress on Transparency in Fund Administration

New York-based FundGuard, a pioneer in the use of AI in investment management and asset services, has completed a $12 million series A funding to finance its solution for meeting increased regulatory demands for transparency and resilience in the fund administration segment. The new round, led by Israeli venture capital firm Team8 and existing investors...

EVENT

Data Management Summit Virtual

The Data Management Summit Virtual will bring together the global data management community to share lessons learned, best practice guidance and latest innovations to emerge from the recent crisis. Join us online to hear from leading data practitioners and innovators from the UK, US and Europe who will share insights into how they are pushing the boundaries with data to deliver value with flexible but resilient data driven strategies.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...