Broadridge and Newriver Deliver Summary Prospectus Solutions to the Mutual Fund Industry
Broadridge Financial Solutions and NewRiver today announced a solution to the Securities and Exchange Commission’s (SEC) newly enacted summary prospectus rule that combines Broadridge’s inventory, print, fulfilment and householding capabilities with NewRiver’s patented electronic database. Broadridge is a global provider of technology-based solutions to the financial services industry. NewRiver is the creator of a central...
DekaBank Goes Live With SunGard’s Asset Arena Compliance
DekaBank, the German savings bank finance group’s central asset manager, has implemented SunGard’s Asset Arena Compliance solution to provide back office support for all its pre-trade, post-trade and post-net asset value (NAV) compliance requirements. Asset Arena Compliance gives DekaBank a standardised and flexible compliance solution that can help support its future growth plans. Asset Arena...
Regulators Continue to Raise Profile of Derivatives Data Challenge, Market Fights Back
In keeping with this year’s regulatory focus on data challenges within financial institutions, this week, US Securities and Exchange Commission (SEC) chairman Mary Schapiro has been discussing the importance of accurately tracking derivatives data. She has been stressing the critical need for regulators to gain more access to information on derivative transactions in order to...
No Responses Received for CESR’s Credit Ratings Agencies Data Repository Proposals
Following the recent approval of the Regulation on Credit Rating Agencies by the European Parliament, the Committee of European Securities Regulators (CESR) published a consultation paper on the subject of a central data repository for ratings agency data on 9 July. The deadline for responses to the proposals was 7 August but the industry failed...
DPC DATA MuniGUARD Addresses Bond Dealers’ Mounting MSRB and Finra Compliance Concerns
DPC DATA, a provider of municipal bond disclosure data, research and data services, today announced that its new surveillance service, MuniGUARD, is helping municipal bond dealers address mounting regulatory demands and enforcement pressures related to investor protections. Providing automated notice of the latest material event filings, which can be integrated directly into trading and compliance...
US Government Sends Final OTC Derivatives Regulations Proposals to Congress
Following the publication of its white paper on an overhaul of the OTC derivatives regulatory regime last month, the US government has finally sent its proposals to Congress, which will vote on them once it returns from its August recess. The proposals include requirements for the more vanilla end of the spectrum of these instruments...
US Senate Banking Committee Closes Last Hearing of Summer with Ratings Agencies Discussions
During the last hearing before its August recess, the US Senate Banking Committee examined the current proposals circulating within the US regulatory community concerning ratings agencies. The Committee is expected to push through legislation on the subject in the autumn but took the opportunity this week to give the ratings agencies a further ear bashing....
European Parliament Introduces New Legal Framework for Ratings Agencies
Last week, the European Parliament approved the introduction of a new regulatory framework for the region’s ratings agencies as part of its post-crisis overhaul of the oversight of the financial services sector. The new regulation is aimed at ensuring that credit ratings used in the EU for regulatory purposes are of the “highest quality” and...
Volante Earns 2009 Swift Label For SwiftReady Messaging Data Services
Volante Designer for Swift has once again received early certification for the 2009 gold label in SwiftReady Messaging Data Services (MDS). “As always, Volante Designer stands out as a comprehensive messaging data solution for handling Swift messages of all types,” says Eric Meirlaen, business analyst at Swift. “Its metadata-based architecture enables customers to benefit from...
FISD and Lakefront Data Salary Survey Highlights Data Management’s Modest Pay Scales
It is no secret that data management is a part of the financial services industry that has long been underfunded in comparison to other areas. To back up the anecdotal data that already exists about the plight of the data manager, the Financial Information Services Division (FISD) of the Software & Information Industry Association (SIIA)...