Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
UK FSA Warns Will be Examining Firms’ Data Practices Around AML
The UK Financial Services Authority (FSA) has given the industry a heads up in its latest newsletter that it will be scrutinising firms’ systems and controls around anti-money laundering data, especially for politically exposed persons (PEPs), over the course of the next five months and going into next year. Details of the regulatory project are…
WestLB Benefits from Vendor Collaboration for Data Management and KYC Efforts, Says Feast
German bank WestLB has benefited from the collaboration of all of the vendors involved in its know your customer (KYC) driven data management project, according to Sarah Feast, executive director of operations control for the bank. The bank took the decision to centralise its customer data in its Dusseldorf operations back in 2006 and has…
The Ripple Effect
The news last week that entity and counterparty data specialist provider Avox had been snapped up by a willing party in the form of the Depository Trust & Clearing Corporation (DTCC) comes as no surprise on either front. But what does the sale mean for the other main entity data focused vendor on the scene,…
Xtrakter’s Response to CESR MiFID Review Highlights Costly Challenges of Client Identification
Following the publication of the Committee of European Securities Regulators’ (CESR) consultation papers on MiFID earlier this year, industry groups have submitted their responses to the proposals, including providing feedback on the potential data costs and system requirements to cope with the changes. To this end, the British Bankers’ Association (BBA) and Xtrakter Transaction Reporting…
Sutton Elaborates on RBC’s Four Priorities for Reference Data for the Next Three Years
Since her appointment at the end of last year, Julia Sutton, global head of reference data, including customer accounts and onboarding, for the Royal Bank of Canada (RBC), has been focused on prioritising the long list of reference data issues that need to be tackled within RBC over the next two to three years. The…
DTCC Announces Intention to Establish European-based Derivatives Trade Reporting Repository
The subject of a European-based trade repository for the credit default swap market has long been a bone of contention between regulators and industry participants in the derivatives market, but it seems that the Depository Trust & Clearing Corporation (DTCC) is hoping to solve the issue by setting up a new subsidiary on European shores…
Entity and Counterparty Data in the Spotlight
Members of the JWG Customer Data Management Group speak to Reference Data Review about the upcoming hot topics in the area of entity and counterparty data. Challenging the Customer Data Conundrum PJ Di Giammarino, CEO of JWG A key theme within the well versed G20 93 point plan set out in spring 2009 was the call to…
Thomson Reuters is Joining its Enterprise Platform up with its Data Content, Rationalising Reference Data onto DataScope
Following the launch of its Enterprise platform earlier this year, data giant Thomson Reuters is now focusing its energies on joining the platform up with its various data content sets. The vendor is also working on developing its flagship DataScope solution as the overall platform for its various data offerings on both the Thomson and…
New Data Requirements for All as Conference Committee Passes Office of Financial Research Reforms
Following intensive discussions last week by the conference committee designated with the job of hammering out compromises on the US financial reform bill, the proposals for the establishment of the Office of Financial Research have finally been approved. The committee has published the final titles from the conference, which includes details of the data utility…
Privacy Concerns Raised About Office of Financial Research, But Reforms Likely to Pass Without Significant Amendment
This month’s regulatory debate on the subject of the Office of Financial Research proposals, which are contained in Title I of the current US financial reform bill, included discussion of the potential threat to privacy that the data centre poses to the US market overall. Democrat senator Susan Garrett called the Office of Financial Research…