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SEC Names Kathleen Weiss Hanley as Deputy Chief Economist and Deputy Director of Riskfin
The Securities and Exchange Commission today announced that Kathleen Weiss Hanley has been named Deputy Director and Deputy Chief Economist for the SEC’s Division of Risk, Strategy, and Financial Innovation (RiskFin). RiskFin was created in September 2009 to provide interdisciplinary analysis to help inform the Commission’s policymaking, rulemaking, enforcement, and examinations. The division encompasses the…
CPSS and IOSCO Trade Repositories Paper Promotes Global LEI and International Product Classification System
The Committee on Payment and Settlement Systems (CPSS) and the International Organisation of Securities Commissions’ (IOSCO) joint working group last week produced a consultative report on the means via which OTC derivatives data should be collected, stored and disseminated by trade repositories across the globe. The report notes the information gaps that currently exist in…
IMS Responds to Government’s Money Laundering Consultation
The IMS Group (IMS), the compliance and regulation consultant, has today responded to the Government’s consultation on reviewing Money Laundering Regulations 2007. The consultation period closes on 30 August 2011. The Government’s proposals are intended to give businesses greater confidence to focus compliance on their highest risk areas and to discourage the tick-box approach taken…
Virginie’s Blog – Opinions on Xtrakter’s AII Ambitions
Last week, the trade matching and regulatory reporting solution vendor arm of Euroclear Xtrakter marked the official launch of its Alternative Instrument Identifier (AII) compliant transaction reporting solution and indicated that it is hoping to net a significant share of the market (see our coverage of which. However, given initial reader response to the news,…
Fast-Paced Futures
Whether you are trading Eurodollars in Chicago, FTSE 100 futures in London or Nikkei contracts in Tokyo, there is little to distinguish the style of listed futures and options trading or the regulatory requirements involved. From the trader’s perspective, the hundreds of thousands of instruments and the multitude of exchanges on which they trade are…
Virginie’s Blog – It’s Good to Talk (But Actions Are Also Needed)
August has truly been a month dominated by discussions at the regulatory level about data standards. Not only has the Committee on Payment and Settlement Systems (CPSS) teamed up with the International Organisation of Securities Commissions (IOSCO) to produce a consultative report on the means via which OTC derivatives data should be collected, stored and…
Firms Likely to Wait Until November Deadline to Comply with AII Reporting Requirements, Says Xtrakter’s Dingley
Although the UK Financial Services Authority (FSA) has provided a four month window for firms to become compliant with transaction reporting using the Alternative Instrument Identifier (AII), firms are likely to wait until the final November deadline for compliance before they begin using the new derivative instrument ID, according to Christopher Dingley, product manager for…
FATCA Compliance Will Cost Banks 5 Times that of Client Money Compliance, Warns Crossbridge
Crossbridge , the financial markets consultancy, today warned that complying with the incoming FATCA legislation from the US could cost investment banks five times as much as complying with the UK’s new CASS regulations, which will be implemented in little over a month’s time. Indeed, one bank that Crossbridge is working with has assigned 40%…
DataFlux Gains Solvency II Momentum with New European Insurance Customers
DataFlux, a leading provider of data management solutions, today announced that nine European insurance firms have selected its technology over the past few quarters to underpin their Solvency II data management initiatives. The DataFlux Solvency II data governance framework is being used by firms to take practical steps to adhere to a wide range of…
Andrew’s Blog – Get Involved in A-Team’s DMRAV Event – London October 17
While London’s weather may not make for exciting summer activities, we’re getting mildly animated at the prospect of pulling together the programme for our Data Management for Risk, Analytics & Valuations conference in London on October 17. Ages away? Hardly. Get the bank holiday weekend out of the way and it’s just a month to…