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US Regulatory Reporting: The Data Management Response
Given the rapid pace of change in the US regulatory reporting landscape in recent years, the banking sector is increasingly required to focus on its data management capabilities in order to meet these requirements effectively. At A-Team Group’s Data Management Summit USA virtual conference last month, Kenneth Lamar, Principal Partner at Lamar Associates, moderated a…
Vendor Strategy: Element 22 Joins the Fast Track Straight Out of the Blocks
Element 22’s ESG data product is among the newest in the industry. Launched in March, ESGi provides buy-side firms with a unique means of connecting directly with corporates to gain insights into their ESG credentials. It didn’t take long for this innovative approach to data gathering to attract high-profile attention. Within just a few months…
Relativity Addresses Email Thread Deduplication with AI Upgrade to Relativity Trace
Relativity has introduced new data cleansing capabilities integrated with its AI-powered Relativity Trace communication surveillance product. The new capabilities – which include the ability to address email thread deduplication – have been modelled to reduce false positives by up to 92%. According to Jordan Domash, General Manager of Relativity Trace, “Surveillance teams are overwhelmed by…
Deutsche Bank Indonesia Teams with Xceptor to Automate Tax Processes for Post-Trade Settlement
Deutsche Bank Corporate Bank has adopted an automated workflow platform for the administration of capital gains withholding tax during the post-trade settlement process in Indonesia. The platform, based on the Xceptor Tax Solution, is aimed at streamlining manual processes and reducing the time to calculate withholding tax amounts down to seconds. Deutsche Bank will also…
Countdown to Operational Resilience Deadline Adds Pressure to UK Firms
UK financial services institutions and firms now have less than six months to identify their ‘important business services’, set impact tolerances and carry out mapping and testing ahead of the new UK Regulatory Operational Resilience Requirements coming into force on March 31, 2022. The new requirements are being ushered in by the Bank of England,…
Level 2 SFDR ESG Disclosure Requirements are on the Horizon – Is Your Organisation Ready to Comply?
The EU Sustainable Finance Disclosure Regulation (SFDR) is central to the European drive towards a sustainable financial market. It is also complicated and multi-faceted, and makes rigorous demands on financial firms to source large volumes of ESG data and meet numerous reporting obligations. Key elements of disclosure include sustainability risk, principle adverse impacts, and a…
Monetary Authority of Singapore Plans Shared Data Platform to Combat Money Laundering
The Monetary Authority of Singapore (MAS) plans to introduce a digital platform and enabling regulatory framework that will allow financial institutions to share data on customers and transactions with the aim of preventing money laundering, terrorism financing, and proliferation financing – a means of raising, moving or making available financing, funds, assets or other economic…
‘Light Bulb’ Moment Looms for Data Reporting, Says Solidatus
The financial data industry is experiencing an ESG “lightbulb moment” as regulators and financial institutions get to grips with challenges facing corporate disclosure and data quality, according to Solidatus. The recent introduction of the EU’s SFDR and, probably more importantly, the Bank of England’s stress tests of lenders’ climate risks are likely to prove a…
MAS Brings in Final Phase of OTC Derivatives Reporting Rules
The Monetary Authority of Singapore (MAS) has implemented the final stage of its reporting regulations for OTC derivatives under the Securities & Futures Act (SFA). This phase was delayed by a year due to the impact of Covid-19, with the final extension of new reporting obligations coming into force on October 1. The phased in…
MCO Acquires Governor Software, Adds Founder Pike to Payroll
MyComplianceOffice (MCO) has acquired Governor Software, adding the company’s visual mapping of global regulations to its lineup of regulatory data collection and work flow capabilities. Terms of the transaction weren’t disclosed, but it’s understood that Governor was for sale for some time after a planned funding round never materialised due to the global Covid pandemic….