RegTech Insight Blogs The latest content from across the platform
CFTC Plans Roundtable on Data Details of OCR Reporting for Next Week, Including Entity ID Proposals
The Commodity Futures Trading Commission (CFTC) has indicated that it will lead a public roundtable on 16 September to discuss its proposed new ownership and control report (OCR), including the practicalities of customer identification. The move is in response to the concerns raised by industry participants, including Futures Industry Association (FIA) president John Damgard who…
Regulators Focusing on Data Sharing Cross Border, Says FRSGlobal’s Blair-Ford
Not only is the regulatory community asking firms to get their data management systems in order, it is also seeking greater coordination between its own constituents, explains Selwyn Blair-Ford, head of global regulatory policy at solution vendor FRSGlobal. A lot of the recent work that has gone into structuring the new EU regulatory framework has…
Collaborative Approach to Instrument and Entity Identification Could be the Key, Suggests A-Team Group and CGS
Can commercial initiatives and innovation through partnerships succeed where standards bodies have failed in the world of entity and complex instrument identification? That is the question posed by A-Team Group and Cusip Global Services’ (CGS) most recent whitepaper, “Expanding Global Identifiers in Complex Assets and Other Areas”, and one which, given the focus of the…
Commerzbank Focused on Integration of Dresdner’s Customer Data onto its Central Database
Commerzbank may have fallen foul of the UK regulator earlier this year as a result of transaction reporting errors, but the German bank has been engaged in sorting out some of its underlying data issues by doing some of the groundwork to integrate the customer data acquired as part of its takeover of Dresdner Bank…
EXL and Datanomic Partner to Provide Best in Class Compliance Solutions and Services
ExlService Holdings, a provider of outsourcing and transformation services, and compliance and data management solutions specialist, Datanomic, have combined their complementary capabilities to deliver exceptional compliance solutions and services for joint clients around the globe. This partnership offers customers a new end-to-end service to configure, implement and operationalise compliance screening with execution support at a…
Xtrakter’s Giussani Resurfaces at HSBC, Coughlan Joins Fitch Solutions
Following his departure from Trax platform operator Xtrakter earlier this year, ex-Trax product manager Chad Giussani has joined HSBC as its new global head of IT quality and regulatory reporting. Giussani’s former colleague and ex-Xtrakter marketing and communications manager Conor Coughlan has also resurfaced at Fitch Solutions as its new associate director of global product…
CESR on the Case for Post-Trade Data Quality, Pushes Ahead with Complexity Classification Changes
In its latest feedback paper as part of the ongoing MiFID review, the Committee of European Securities Regulators (CESR) has confirmed post-trade data quality remains high on its agenda and despite negative feedback from some corners of the market, it will be pushing ahead with classification changes to the definition of certain complex products under…
UK FSA’s Living Wills Deadline Creeps Closer, Data Challenges Incoming
Six of the UK’s largest banks will be required to submit their preliminary draft recovery and resolution plans to the UK Financial Services Authority (FSA) next month as part of the regulator’s living wills pilot programme. In order to be able to submit these drafts by the end of October, HSBC, Barclays, Royal Bank of…
SEC Adopts Temporary Rule Requiring Municipal Advisors to Register With Agency
The Securities and Exchange Commission today announced that it has adopted a temporary rule requiring municipal advisors to register with the SEC by 1 October, a deadline established by the newly-enacted Dodd-Frank Wall Street Reform and Consumer Protection Act. Municipal advisors provide advice to state and local governments and other borrowers involved in the issuance…
Cost of CFTC OCR Customer Data Collection Proposals is Too High, Says FIA’s Damgard
The cost of the Commodity Futures Trading Commission’s (CFTC) proposals to introduce new customer data reports, dubbed the account ownership and control report (OCR), is likely to represent a “significant burden” for market participants in the futures industry, according to Futures Industry Association president John Damgard. In a letter sent to CFTC secretary David Stawick…