RegTech Insight Blogs The latest content from across the platform
FCA Sees Suspicious Transactions Decline for 2019
The UK financial watchdog has seen the number of suspicious transactions and order reports (STORs) go down for the first time since 2016, according to its latest STORs report for December 2019. The regulator suggests that more robust steps taken by firms to tackle financial crime risks could be part of the reason for the…
Last Minute Preparations for SFTR: Are You Ready Yet?
The clock is ticking, and the initial SFTR deadline is barely a month away – but with delays, regulatory opacity and widespread industry concerns around the data challenges posed by such a substantial change, is an April implementation even achievable? Tactical approaches to compliance won’t be good enough. A strategic plan of attack is necessary…
Industry Testing Will Determine Success of SFTR Compliance
By Val Wotton, Managing Director, Product Development & Strategy, RDS at DTCC. When English art historian John Ruskin wrote, “Quality is never an accident; it is always the result of intelligent effort,” he was writing about Venetian architecture, rather than financial regulation. However, Ruskin’s endorsement of forethought and preparation are applicable to the preparations necessary…
Trading Tech Summit 2020: Optimism for Technology Amid the Continued Regulatory Change
Trading technology professionals can look forward to a year of demanding – and exciting – change, according to speakers and panellists at this week’s A-Team Trading Tech Summit in London. UK- and EU-based firms can expect more regulatory developments – brought about by Brexit, the so-called MiFID II Refit and changes to Market Abuse Regulation…
Skills and Systems Investment Surging in Financial Services, Finds TR Regulatory Intelligence Report
The right talent plays a crucial role in leveraging the benefits of RegTech within financial services firms, according to the fourth edition of Thomson Reuters’ annual regulatory intelligence report, released today. ‘Fintech, Regtech & the Role of Compliance in 2020: The Shifting Regulatory Role’ urges regulators and policymakers to ensure they have the appropriate up-to-date…
DTCC’s SFTR Community Swells to 160 Ahead of 2020 Deadline
A total of 138 clients have signed up to adopt, and more than 30 vendors have partnered with, the Global Trade Repository (GTR) service post-trade market infrastructure provider DTCC, in order to meet their regulatory obligations under the forthcoming European Securities Financing Transactions Regulation (SFTR). SFTR is expected to take effect for banks and broker-dealers…
Nice Actimize Builds out X-Sight Marketplace with Acuris Addition
Financial crime specialist Nice Actimize has added anti-money laundering and data intelligence capabilities to its financial crime and compliance ecosystem through two new partnerships. Acuris Risk Intelligence and Sayari Labs will provide customised solutions for X-Sight Marketplace, a platform connecting financial services organizations with data, applications, tools and service providers. “Change in financial crime has…
Governor Software Partners with AI Specialists Waymark for Global Coverage
Oversight solutions specialist Governor has become a global reseller of financial regulatory content from UK-based Waymark Tech: including current regulations, regulatory news and regulatory change. The agreement launches Governor Software’s regulatory compliance solution onto the world stage, as Governor Reg can now support compliance teams across all financial regulations worldwide. Governor Reg was initially developed…
Why the Finance Industry Needs Traceable Timing Across All its Operations
By Richard Hoptroff, Founder and CTO of Hoptroff London. As the virtual world expands, so do the applications for highly accurate, traceable time. Its most established industry is finance. If clocks on servers drift and are untraceable back to a verified source of universal time (UTC), conflicts can arise. Orders can look as if they…
All Eyes on Oracle as it Upgrades Financial Crime Capabilities
Global anti-money laundering and sanctions fines hit a record high of $5.7 billion in 2019 (compared to $3 billion in 2018 and $2 billion in 2017). Coupled with the growing threat of sophistication, and rising compliance costs, financial institutions are desperate for solutions to help them deter financial crime – and avoid massive penalties. Oracle…