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EU’s Landmark MiCA Framework Affirms Value of LEI in Crypto-Asset Regulation
By Stephan Wolf, CEO of the Global LEI Foundation. With the crypto-asset market experiencing sustained instability and volatility following the high-profile collapse of the cryptocurrency exchange FTX, regulatory activities have taken on new intensity and urgency. Emergent initiatives are being realised, and in May 2023, the EU finally adopted the long-awaited and much-debated Markets in…
Informatica Wades into Privacy Segment with Privitar Acquisition
Informatica’s agreed purchase of privacy specialist Privitar signals its intent to extend the data access management, privacy and governance capabilities integrated in its Intelligent Data Management Cloud (IDMC). Privitar was founded in 2014 to help organisations address issues raised by the EU’s General Data Protection Regulation (GDPR) and other privacy-related rules and guidelines. Today, Privitar…
ISSB Rules Hailed for Bringing Data Clarity, Comparability
The first fruits of the International Sustainability Standards Board’s (ISSB’s) 18 months of work hammering out a set reporting rules that could be applied globally has been welcomed by participants in the financial data and technology industries. The body’s first two sets of disclosure standards, described as “ground-breaking” by the board’s chair Emmanuel Faber, have…
SteelEye Reports Increasing Demand for Integrated Surveillance as Regulatory Crackdown Continues
Demand for integrated trade and communications surveillance among financial institutions has surged by 100% this year following heightened regulatory scrutiny across financial markets, according to recent research by SteelEye. The company’s 2023 Annual Compliance Health Check Report, which surveyed more than 300 senior financial services compliance and risk professionals, found integrated surveillance is now a…
Debut ISSB Standards May Usher New Era of More, Better ESG Data
Next week, the International Sustainability Standards Board (ISSB) is due to release the first of its proposals for non-financial disclosures, an event that could usher a new era for ESG data and reporting. The ISSB’s creation by the IFRS Foundation at COP26 in Glasgow, Scotland, two years ago offered the promise of a global framework…
ESMA Data Strategy Proposes More Tech, Less Cost in Reporting Compliance
The European Securities and Markets Authority (ESMA) has published its data strategy for 2023 to 2028. Key agenda points include using new data-related technologies, reducing reporting compliance costs for regulated entities, enabling effective use of data at both EU and national level, and making data more broadly available to the public. The five-year ESMA data…
ESG Standards and Taxonomies Remain in Flux, But Order is on the Horizon
The ways in which financial institutions receive the data they need to fulfil their ESG targets is determined largely by the regulations that cover its disclosure and dissemination. This year will be an important one in this respect; changes to existing regulations, and the taxonomies on which they are based, are due to be introduced,…
MCO Acquires Fairwords E-Comms Surveillance Platform
Conduct risk and compliance technology provider MyComplianceOffice Inc. (MCO) has acquired Fairwords, developer of AI-powered electronic communications software that captures digital communications while proactively enforcing policy. Terms of the transaction weren’t disclosed. Fairwords’ communications compliance software provides proactive training, analytics, and archiving to mitigate communications risks and prevent compliance crises and lawsuits. Using the system,…
ACA Addresses Compliance Talent Shortage with New Performance Measurement Solution
GRC specialist ACA Group has launched a performance measurement and reporting solution for investment firms. The move is aimed at tapping into the growing industry requirement for investment firms to outsource more of their compliance and reporting needs in the face of an industry-wide shortage of compliance talent. ACA’s new Managed Performance Services offering enables…
An Industry Update on FRTB Implementation in APAC
Implementation of Fundamental Review of the Trading book (FRTB) regulation across APAC raises many challenges, not least fragmentation of the regulation across jurisdictions in the region, fulfilling complex requirements of the regulation, sourcing necessary data, and selecting the internal or standarised model approach for specific trading desks. While the challenges are significant, and FRTB has…