Volante Partners with QDBS, Enters Mexican Marketplace for Financial Data Management
Volante Technologies today announced its partnership with QDBS of Mexico City, a consulting firm and developer of software for local and multinational banks operating in Mexico. QDBS is using Volante technology for integration of SWIFT and other messaging in customer projects, as well as a new software solution that will be launched later this year....
FINCAD Responds to Customer Needs for Greater Risk Management and Transparency
With the recent US Senate approved bill that means sweeping overhaul of financial regulation and calls for more transparency and prudent risk management, FINCAD, the industry standard for financial analytics, announced the launch of F3 Excel Edition. In a recent FINCAD survey, financial professionals revealed a greater need for detailed risk management models and better...
Global Securities Regulators Adopt New Principles and Increase Focus on Systemic Risk
The International Organisation of Securities Commissions (IOSCO) has published its revised Objectives and Principles of Securities Regulation (Principles) to incorporate eight new principles, based on the lessons learned from the recent financial crisis and subsequent changes in the regulatory environment, which are designed to strengthen the global regulatory system against future crises. The eight new...
Confluence’s Botula and Powell Elaborate on Data Implications of Money Market Fund Reforms
Data management solution vendor Confluence is busy readying itself to be able to provide its US-based customers with a solution that will allow them to meet the requirements of the US Securities and Exchange Commission’s (SEC) incoming Money Market Fund Reform Rule. Kirk Botula, executive vice president and chief operating officer, and Scott Powell, product...
UK FSA Slaps JPMorgan with £33.32m Fine for Client Money Rules Infractions
As if it was a warning shot to those dragging their heels in meeting the UK Financial Services Authority’s (FSA) recent call for firms to provide more data about their management of client assets, the regulator has this week fined JPMorgan Securities Limited £33.32 million for breaches of its client money rules. It is the...
CESR’s Ratings Agency Consultation Paper Sets Out CRA Data Requirements
Following more than a year of discussions about how to best tackle the underlying issues with credit ratings in the post-crisis environment, the Committee of European Securities Regulators (CESR) has produced a new consultation paper detailing the data requirements for these ratings agencies under the new regime of heavier scrutiny. Industry participants have until the...
European Commission Adopts Draft Mandate for EU-US Data Protection Agreement
Following months of negotiations, the European Commission has finally published a draft mandate to negotiate a personal data protection agreement between the European Union and the United States when cooperating to fight terrorism or crime. European politicians, including Viviane Reding, the EU’s Commissioner for Justice, Fundamental Rights and Citizenship, are keen that bulk data transfers...
UK FSA’s Risk Head Dewar Sends Out Second Warning on Client Assets; Three Strikes and You’re Out…
As part of its tougher stance towards the market and in a follow up to a related “Dear CEO” letter sent out in January, the UK Financial Services Authority’s (FSA) managing director of risk Sally Dewar has sent out another letter warning firms to respond to its request for information on their management of client...
Middle Office Cinderella Finally Getting its Day in the Spotlight Due to New Transparency Requirements, Says Op Risk Panel
The new transparency requirements that are being mooted as part of the MiFID review process by the Committee of European Securities Regulators (CESR) have resulted in a surge of interest and investment in the middle office, according to panellists discussing operational risk at last week’s Xtrakter user conference. Godfried De Vidts, director of European Affairs...
FISD Launches Financial Information Associate Certification
The Financial Information Services Division (FISD) of the Software & Information Industry Association (SIIA) announces the launch of its new “Financial Information Associate” certification – the very first offering of its kind in this industry sector and the first to come out of the FISD Professional Certification program. As of May 2010, early adopters from...