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Now is the Time to Prepare for January 2025 DORA Compliance Deadline

Rich Cooper, Global Head of Financial Service Go-To-Market at Fusion Risk Management. The Digital Operational Resilience Act (DORA), which is designed to consolidate and upgrade Information and Communications Technology (ICT) risk requirements and sets out a common set of standards for mitigating risks, takes effect across the EU in January 2025. The legislation covers a…

Compliance Automation Provider Ascent Technologies Acquired by Edgewater Equity Partners

Ascent Technologies, a Chicago-based provider of AI-driven compliance automation, has been acquired by Edgewater Equity Partners, a private equity firm in Boston. The acquisition aims to accelerate development of Ascent’s compliance automation platform and enhance its value proposition to customers. The acquisition is a strategic move for Edgewater Equity Partners, which acknowledges Ascent’s capability in…

Firms in the US Prepare to Meet Compliance Date for UPI in Regulatory Reporting

The Derivatives Service Bureau (DSB) has released figures indicating industry readiness for the first jurisdictional compliance date for the inclusion of the Unique Product Identifier (UPI) in regulatory reporting in the US on 29 January 2024. The US is the first jurisdiction to start UPI reporting in G20 derivatives markets with EU EMIR Refit regulations…

Encompass Plans Corporate Digital Identity Platform Following Acquisition of CoorpID and Blacksmith KYC

Encompass Corporation, a provider of real-time digital Know Your Customer (KYC) profiles, has acquired CoorpID and Blacksmith KYC from ING to develop a platform that solves the critical challenge of identification and verification of corporate and institutional clients. ING will be a stakeholder and development partner to Encompass and will use the platform in the…

New Year’s Resolutions: Get OTC Derivatives Reporting Fit for EMIR Refit

By Thomas Steimann, Head of Regis-TR at SIX. The OTC derivatives markets have faced a slew of new regulations since the 2008 Global Financial Crisis, to which the market has continued to adapt. 2024 will be no different. The EMIR Refit is the latest in a wave of regulatory change for the derivatives markets, with…

Stephan Wolf Steps Down from Role of GLEIF CEO in June 2024

Stephan Wolf, CEO of the Global Legal Entity Identifier Foundation (GLEIF), will step down from the role on 24 June 2024 after a decade of leading the foundation from its start-up phase to the growing organisation it is today. In a post on LinkedIn, Wolf writes: “After a decade of incredible experiences and achievements, I…

Delta Capita and Montis Group Enhance Partnership to Develop Advanced Digital Securities CSD Infrastructure

Delta Capita and Montis Group have announced the expansion of their commercial partnership, building on their initial success in developing the Montis Central Securities Depositary (CSD) system. This digitally-native CSD system, powered by Delta Capita’s MACH Distributed Ledger Technology (DLT) platform, is designed to provide the market infrastructure needed for regulated tokenised assets, in the…

Regulated Firms that Don’t Trust Electronic Identification Verification Risk Financial Crime

More than 36% of people in regulated firms who ‘can’t trust’ electronic identity verification technology and instead rely on manual checks are leaving their doors open to financial crime, according to research by anti-money laundering specialist SmartSearch. This statistic, from SmartSearch’s 2023 annual survey of 500 compliance stakeholders across financial, accountancy, property and legal services,…

WhatsApp Update Could Spell Unhappy New Year for Compliance Teams

By Oliver Blower, CEO of VoxSmart. While many of us will be making tough lifestyle changes this January, from adopting strict fitness regimes to cutting down on calories, there are other changes afoot in the realm of WhatsApp that could impact many of us over the coming days. For regulatory compliance teams at financial institutions…

DTIF Partners DLC Distributed Ledger Consulting to Add Crypto Risk Metrics to Digital Token Identifiers

The Digital Token Identifier Foundation (DTIF), created by Etrading Software to provide ISO standard identifiers for digital assets based on open data principles, has reached agreement with DLC Distributed Ledger Consulting to display a crypto risk metrics score on Digital Token Identifiers (DTIs) for commonly traded tokens. The metric score, combined with the DTI standard,…