Markit Develops Managed Services With CTI Acquisition
Markit’s agreement to acquire tax compliance and reporting services specialist Compliance Technologies International (CTI) will add a tax component to the company’s managed regulatory reporting services that already include the Counterparty Manager platform and the recently introduced Markit | Genpact Know-Your-Customer (KYC) Services. Financial details of the acquisition have not been disclosed and the transaction...
Data Management Summit: Regulation and Risk Require a New Approach
Regulation and risk are driving a new approach to data management across financial markets, but they are not the only drivers as firms seek cost reductions, operational efficiencies and a means of using data as a business asset. These issues and more were debated by a panel of experts at last week’s A-Team Group Data...
Lombard Risk Offers Free XBRL-Checker to Support Corep Compliance
Lombard Risk Management is offering firms that must comply with the latest Common Reporting (Corep) rules a free eXtensible Business Reporting Language (XBRL) checker to help them resolve XBRL validation errors that can occur when submitting required reports to the UK Financial Conduct Authority (FCA). The FCA’s Gabriel reporting system has been in place since...
Data Management Summit: Regulation and Cost Drive Adoption of Data Utilities
The potential of reference data utilities to cut data management costs and improve data quality was a hot topic at last week’s A-Team Group Data Management Summit in New York. Most speakers and delegates agreed that data utilities will become part of the capital markets landscape, but exactly how they will operate and how the...
A-Team Group Webinar Offers Insight into the Data Management Challenges of FATCA
The Foreign Account Tax Compliance Act (FATCA) comes into effect on 1 July 2014 and presents, perhaps, the most challenging data management issues that financial institutions will face this year. The volume of data is one problem, the complexity of requirements is another, and the whole is not helped by recent changes to FATCA rules...
Swift Adds Compliance Analytics Tool for Network Traffic Data
Swift has extended its Compliance Services portfolio with the addition of Compliance Analytics, a business intelligence tool that aggregates Swift network data to help banks visualise their global transaction flows and identify any unexpected activities. Swift touched on the analytics tool back in January when it discussed its intention to build a portfolio of compliance...
Morningstar Augments Solvency II Solutions with UBS Delta’s Capital Requirement Calculations
Morningstar UK has extended its range of Solvency II solutions for asset managers through a partnership with UBS Delta that adds fund level Solvency Capital Requirement (SCR) calculations to the company’s fund portfolio holdings data and Solvency II classifications. Morningstar has included fund portfolio holdings data for many years and Solvency II classification data since...
IRS Delays Registration Deadline for Fatca and Clarifies Status of Foreign Financial Institutions
The US Internal Revenue Service (IRS) has pushed back the registration deadline for foreign financial institutions (FFIs) subject to the Foreign Account Tax Compliance Act (Fatca) by 10 days. It has also given jurisdictions that are close to signing Intergovernmental Agreements (IGAs) on Fatca the same status for the remainder of this year as those...
Opinion: Regulators Blink on Derivatives Reform – Industry Leadership Required
By Allan D. Grody While the complications of Obama Care reform in the US has reached all Americans directly, the complications of the implementation of the swaps risk regime are similarly ‘problematic.’ But they are not yet well enough understood to touch the lives of everyday people, although indirectly they will impact everyone through higher...
Misys Builds on Existing Technologies to Deliver EMIR Reporting Service
Misys has responded to customer demand for help with trade reporting under European Market Infrastructure Regulation (EMIR) with Regulatory Reporting Service, a stand alone software-as-a-service (SaaS) solution, and an extension to its Confirmation Matching Service (CMS). The company had previous experience of Dodd-Frank and EMIR reporting with its Opics banking product that is usually used...