RegTech Insight Blogs The latest content from across the platform
SCV Reforms Still Failing to Gain Widespread Industry Attention, Says JWG’s Di Giammarino
The 31 July deadline for submission of firms’ pre-implementation reports for compliance with the incoming Financial Services Compensation Scheme (FSCS) Single Customer View (SCV) reforms may have passed but the majority of the “great and the good” in the financial services world are still not ready to talk about the customer data changes required as part…
FRSGlobal adds two Vice-Presidents to Executive Management Committee
FRSGlobal, the industry-recognised leader in content-rich solutions for unified global regulatory reporting and risk management, today announced that it has appointed Nancy Schneier as Vice President Global Alliances and Wolfgang Prinz as Vice President Product Management. Nancy joins with over 25 years’ experience of selling and delivering technology solutions in the financial services industry, managing…
UnaVista Expands Transaction Reporting and Reference Data Checking Services to Dutch Market
As promised by Mark Husler, head of information services business development at the London Stock Exchange (LSE), back in May, the exchange operator has extended its transaction reporting service beyond its traditional UK remit into the Netherlands. The LSE has therefore received approval from the Dutch regulator, the Autoriteit Financiële Markten (AFM), to act as…
UK FSA’s £5.6m Fine for RBS Group Highlights Need for Greater Investment in Customer Data Management
The UK Financial Services Authority’s (FSA) £5.6 million fine for Royal Bank of Scotland (RBS) Group this week for the group’s failure to have adequate data checks in place to conduct mandatory anti-money laundering (AML) screening is indicative of the need for firms to get a better handle on their customer data. According to the…
BIS IFC Plans Event on Regulatory “Data Gaps” Revealed by the Crisis, Will a Reference Data Utility be Discussed?
The Bank for International Settlements’ (BIS) Irving Fisher Committee (IFC), which was set up to discuss issues related to statistical monitoring by regulators across the globe, is planning to discuss the data gaps highlighted by the financial crisis at its fifth annual conference in Basel this month. Given the theme, it is likely that discussion…
The Consolidated Tape Iceman Cometh
We read the latest CESR advice on transaction reporting with alarm. In short, it suggested that the market had failed to find its own solution to the challenge of transaction reporting in a fragmented liquidity environment. But has it? Since the implementation of MiFID in 2007, the market has seen the launch of a specific,…
CESR’s Advice on Transaction Reporting Accepts High Cost of the Introduction of New Entity Identifiers, the BIC Will Have to Do…
As part of its overall technical advice to the European Commission on the subject of MiFID, the Committee of European Securities Regulators (CESR) has indicated that although the introduction of a “meaningful” and unique pan-European legal entity identifier for transaction reporting purposes is desirable, it isn’t practical in the short term. In its package of…
Swift’s Aggarwal Confirms the Securities Reference Data Items that Have Made the Cut in the New 2015 Strategy
Financial industry network operator Swift has finally signed off its new five year strategic plan, but how many of the reference data items mentioned by securities head Chris Church back in January have made the final cut? Arun Aggarwal, Swift’s managing director for the UK, Ireland and the Nordics, explains to Reference Data Review that the development of…
Strate Completes Corporate Actions Automation Project for South African Market with TCS
Four years ago, South African central securities depository (CSD) Strate launched its project to automate its equity corporate actions processing and, a year later, in September 2008 it engaged the services of Tata Consultancy Services (TCS) to develop the new system. Following a period of development and testing, the system has now gone live and…
New Data Quality Standards on the Table in CESR’s MiFID Technical Advice to the Commission
Following the feedback received during the recent consultation period, the Committee of European Securities Regulators (CESR) has finally produced its technical advice for the European Commission regarding the establishment of a sequel to MiFID. As well as the expected proposals for a European consolidated tape, the papers also include a number of recommendations related to…