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Is the Industry Focusing on the Right Things?

This year’s FIMA demonstrated one clear thing: not everyone agrees on the right way to approach data standardisation across the market. There was a great deal of debate about whether regulatory compulsion is a desirable concept for the market with regards to forcing market participants to use standards. The European Central Bank’s (ECB) reference data…

JWG-IT Pokes Data Sized Holes in UK’s Response to Europe’s Omnibus Directive

Industry think tank JWG-IT has this week sent a letter to the UK’s House of Commons Treasury Committee warning it of the dangers of overlooking the data infrastructure challenges inherent in the European Commission’s financial services “Omnibus” Directive. The UK government committee has just published its response to the Commission’s proposed directive but PJ Di…

Netik Addresses How Upcoming Regulations Will Affect the Banking Industry at FIMA 2009

Netik LLC, a global provider of financial data management and reporting services and products, announced that Keith Hale, executive vice president, Netik, will present at the FIMA 2009 event taking place next week at The Tower Guoman in London. With more than 300 participants, FIMA is the largest European event focusing on reference and market…

Bloomberg Decides to Provide its Codes for Free: Regulators 1, Data Vendors 0?

Given the regulatory investigations into data rivals Thomson Reuters and Standard & Poor’s owned Cusip Service Bureau, it is no wonder that Bloomberg has felt compelled to offer its proprietary codes to the market for free. The data vendor has indicated that it will be providing its own proprietary financial instrument codes to the market…

More Ratings Regulations Progress in US with House Financial Services Committee Vote

This week more progress has been achieved in the US with regards to the regulatory crackdown on credit ratings agencies: the House Financial Services Committee has thrown its support behind the bill to increase oversight of this corner of the market. The bill, which was first proposed by Paul Kanjorski, chairman of the House subcommittee…

Principia Standardises Integration, Ongoing Surveillance and Management of Collateral Performance Data

Principia Partners, a solution provider for the management and administration of structured finance portfolios, today announced the launch of Principia Structured Finance Platform (Principia SFP) Version 6.2. The latest upgrade helps financial institutions and investment managers to track, monitor, analyse and report on the collateral pool performance of any fixed income asset, including asset backed…

Issuers’ Group Campaigns for Regulators to Reduce their Reliance on Ratings

Ratings agencies are really getting a battering from all sides this month. Not only is the banking sector and the regulators scrutinising their every move, now issuers have added their two pennies’ worth to the debate. This week, issuer association EuropeanIssuers indicated that it believes references to credit ratings should be completely removed from European…

Enterprise Data Management, 2009 Edition

This year has truly been a year of change for the data management community. Regulators and industry participants alike have been keenly focused on the importance of data with regards to compliance and risk management considerations. The UK Financial Services Authority’s fining of Barclays for transaction reporting failures as a result of inconsistent underlying reference…

Regulators Continue Scrutiny of Ratings Agencies, As Kroll Plans to Challenge Big Three

The credit ratings agencies have had another hard couple of weeks of it, with the US government hurling criticism at these firms for their perceived contribution to the economic downturn. This attitude however, does not appear to have dissuaded risk consultant Jules Kroll from planning to establish his own ratings agency to rival the big…

Lack of Consistent Sanctions and Risk Customer Screening Standards Exposes Firms to Heightened Compliance Risk

Many large financial institutions are failing to implement consistent policies and procedures for sanctions, Politically Exposed Persons (PEP) and customer risk screening due to inconsistent, legacy-based systems, according to compliance screening and data management specialists, Datanomic. Fragmented and inconsistent legacy platforms with different criteria and capabilities deployed across multiple departments and/or countries are resulting in…