RegTech Insight Blogs The latest content from across the platform
SGSS Highlights Expedited Data Support for Outsourced Customer Credit Suisse Asset Management in Germany
As part of its outsourcing deal with the Germany-based asset manager, Société Générale Securities Services (SGSS) migrated Credit Suisse Asset Management’s data in just six months, according to the asset servicing firm. The implementation involved moving data regarding 66 funds and around 7,000 individual positions to investment management system SimCorp Dimension. Credit Suisse Asset Management…
SEC Plans 7 July Roundtable on IFRS Preparedness and Regulatory Impacts
The Securities and Exchange Commission (SEC) has indicated that it will be holding a public roundtable next week to discuss the industry’s current state of preparedness for a move to International Financial Reporting Standards (IFRS). The 7 July event will include three panel discussions on the subject of potential accounting system changes, as the US…
One Client Has Moved from 24% to 100% Data Quality Compliance via Omgeo’s SI Compliance Scan, Says Meenaghan
Omgeo has this month launched new functionality for its settlement and account instruction (SSI) database that Bill Meenaghan, global product manager for the vendor’s Alert platform, claims has allowed one client to move from 24% to 100% data quality compliance within a matter of weeks. The SI Compliance Scan functionality is therefore aimed at helping…
Broadridge Strengthens Team as Market Demand to Streamline Processing Operations Increases
Broadridge Financial Solutions today announced the appointment of two new executives to expand and grow its business in line with industry demand. As financial services firms are increasingly looking for solutions which can streamline processing operations and offer faster routes to market, Broadridge has hired Simon Bennett as Managing Director, Sales, for Broadridge City Networks…
Princeton Financial Systems Announces Christian Kuechler as Managing Director
Princeton Financial Systems announced that Christian Küchler has taken over the role of the Managing Director. Christian Küchler, who has been working with the company for eleven years, will now have responsibility for Professional Services, Sales and Marketing activities within Princeton Financial Systems GmbH. He will work together with Linda Kane who is Managing Director…
UK FSA Highlights “Serious Weaknesses” Within Firms’ AML and Customer Data Management Practices
As part of its crackdown on the industry’s systems and controls around anti-money laundering (AML) data, especially for politically exposed persons (PEPs), which it stepped up last year, the UK Financial Services Authority (FSA) has released the findings of a survey of these practices across the industry that highlights “serious weaknesses” in “many” firms. The…
Virginie’s Blog – OFR Plans to Staff up by September, But are Other Plans Afoot?
The Commodity Futures Trading Commission (CFTC) may have appointed all the industry reps it needs to its data standards subcommittee (see my earlier blog on which here), but the Treasury’s Office of Financial Research (OFR) continues to lag in the appointment process – not least of which is the selection of a director. The agency’s…
SimCorp Releases System Readiness Assessment for Dodd-Frank
SimCorp, a leading provider of highly specialised software and expertise for the investment industry, has released a white paper discussing the technology considerations a buy-side firm should take into account on its road to Dodd-Frank compliance. The paper, entitled: “Impact of Dodd-Frank on OTC Derivatives: Supporting Central Trading and Clearing” details SimCorp’s recommendations for preparing…
Delaying The Inevitable
Bowing to market pressure, it seems that the SEC has given the financial trading community a little extra time to implement certain aspects of the so-called Market Access Rule covering pre-trade risk. Instead of a July 14 deadline, trading firms, brokerages and exchanges now have a November 30 date to work to for implementing aggregate…
Virginie’s Blog – Keeping an Eye on Google
I noted the announcement of Google’s participation in the Commodity Futures Trading Commission’s new data standards subcommittee this month with interest. Given its potential in the financial services market in the area of data management (in the cloud) and the experience it brings to the table, it’s a surprise that steps hadn’t been taken sooner…