Data Management Insight Entity Data, KYC and Client Onboarding The latest content from across the platform
FRSGlobal’s Brammertz Propounds Risk Management Benefits of the US Office of Financial Research
The plans for the establishment of a US-based reference data utility in the guise of the Office of Financial Research continues to make its way through the US political system and it seems that many of those from the risk management world feel it will make a difference for the better. The Professional Risk Managers’…
US FCIC Criticises State of Goldman’s Slow Production of Incomplete and Inaccurate CDO and Customer Data
Following the damning evidence provided by the Lehman examiner report earlier this year, proof yet again of the poor state of the industry’s data management systems comes this month from the US Financial Crisis Inquiry Commission’s (FCIC) recent dealings with Goldman Sachs. The regulatory body, which was established in May last year to examine the…
Majority of Risk Managers Have Yet to Put in Place Adequate Stress Testing Procedures, Says PRMIA
Despite the moves within the regulatory community towards mandating reverse stress testing procedures, the majority of firms have yet to take action and put in place new procedures and systems to cope with the changes, according to a recent survey conducted by the Professional Risk Managers’ International Association (PRMIA). Reverse stress testing is just one…
UK FSA Produces Form for Firms to Confirm Why They Won’t be Ready for SCV
The UK Financial Services Authority (FSA) has sent out its pre-implementation report template for firms to fill in to confirm whether or not they will be ready for the incoming Single Customer View (SCV) reforms. Boards must confirm in writing by 31 July the status of their SCV projects, most of which have yet to…
DTCC Posts Data Industry Will Use to Increase Clearing of Credit Derivatives
The Depository Trust & Clearing Corporation (DTCC) announced today that it will post this evening on its website, www.dtcc.com, data compiled from CDS trades registered in DTCC’s Warehouse Trust Company LLC at the request of market participants who will use it to assess which of the various single reference entities might have sufficient liquidity to…
FactSet Announces Everywhere Access with FactSet Connect
As part of their mission to provide industry-leading workflow solutions to investment professionals worldwide, FactSet Research Systems today announced that users can now access FactSet’s powerful analytics and broad scope of data from virtually any computer, anywhere in the world. FactSet is a leading provider of integrated financial information and analytical applications to the global…
IOSCO Publishes Principles on Cross Border Supervisory Cooperation, Including Proactive Data Sharing Requirements
The International Organisation of Securities Commissions (IOSCO) has published a set of Principles Regarding Cross-Border Supervisory Cooperation developed by its Technical Committee’s Task Force on Supervisory Cooperation, which recommends a more proactive approach to data sharing between regulators. The recommendations include the ability for regulators to obtain information from third party jurisdictions at will in…
IIF Calls for Set up of International Task Force to Tackle Cross-Border Resolution; Legal Entity Experts Needed
The Institute of International Finance (IIF), which includes members from the world’s largest financial institutions and is headed by chief exec of Deutsche Bank Josef Ackerman, has called for the establishment of a G20 led task force to tackle the issues involved in establishing internationally agreed cross border resolution agreements. The crack team will need…
Citi Blazes a Trail for Counterparty Data Management, Berlanger Provides Update Four Years on
It has been four years since Citi first began its counterparty data management project as part of its overall push in the enterprise data management (EDM) space, which at the time was spearheaded by former chief data officer (CDO) John Bottega. The initial focus was on achieving a unique identifier for entity data across the…
Amplifying the Data Issue
If there was one main message to be gleaned from our counterparty data and risk management seminar this week, it was that the current regulatory and risk management focus on entity data is proving to be of benefit to the data management community as a whole. The scrutiny of firms’ counterparty data management as a…