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SEC Names RiskMetrics Co-Founder Gregg Berman as Head of Office of Analytics and Research
The US Securities and Exchange Commission (SEC) has named risk expert Gregg Berman as head of the Office of Analytics and Research in its Division of Trading and Markets. The office was set up last year to conduct research and analysis that will help inform the Commission’s policies on markets and market structure. Its focus…
Talking Reference Data with Sarah Underwood: The LEI Presents Opportunities Not to be Missed
The global legal entity identifier (LEI) system mandated by the G20 in November 2011 and initiated by the Financial Stability Board (FSB) soon after has been some time in the making, but it seems to be headed in the right direction despite disagreement among market participants on some elements of the solution; a change of…
Basel Committee Publishes Definitive Principles for Risk Data Aggregation and Reporting
The Basel Committee on Banking Supervision has published ‘Principles for effective risk data aggregation and risk reporting’, a final document based on an earlier version of the principles issued in June 2012 for consultative purposes. The document includes 14 principles grouped into four headline topics and states that global systemically important banks (G-Sibs) should start…
Thomson Reuters Joins Fatca Fray with Modular Compliance Solution
Thomson Reuters has joined the growing group of vendors providing compliance solutions for the US Foreign Account Tax Compliance Act (Fatca) that came into effect on January 1. Its offer is a modular, yet holistic, solution that can flex in response to elements of the legislation that are still to be determined or may change…
Standard Life Takes Stealthy Approach to Building a Data Warehouse
A stealthy rather than Big Bang approach to data warehousing can meet business requirements in a timely and cost-conscious way, and lay the foundations for a scalable solution, said Jim Shaw, solutions architect at Standard Life, as he presented a case study of data warehouse development at last week’s Financial Information Management (FIMA) Conference in…
Underlying Data and Overall Governance are Central to Surviving the Regulatory Tsunami
Financial services firms must tackle underlying data issues and enforce top-down governance strategies if they are to survive the regulatory tsunami, argued Anthony Kirby, director of Ernst & Young’s regulatory and risk management practice, at last week’s International Securities Association for Institutional Trade Communication (ISITC) conference in London. Addressing the operational impact of upcoming regulations,…
LEI Development Embraces Change and Picks up Speed Ahead of G20 Meeting
The Financial Stability Board’s (FSB) third progress note on the legal entity identifier (LEI) initiative, released last week, has met with a positive response from those involved in shaping the system, potential infrastructure providers and market data vendors, despite changes to some proposals and the collapse of perceptions that have built up during debate on…
Current Solutions Lacking, Despite Foundational Nature of Reference Data
Reference data management (RDM) is a foundational element of financial enterprises, yet the collection of solutions used to manage reference data in most firms is not satisfactory, according to a report published this week. The report – Reference Data Management: Unlocking Operational Efficiencies, published by Tabb Group in conjunction with data integration specialist Informatica –…
FSB LEI Pow-Wow in Basel: It’s Progress, Jim, But Not as We Know It
Early indications from this week’s Financial Stability Board (FSB) meeting of the Legal Entity Identifier Private Sector Preparatory Group (LEI PSPG) suggest great progress has been made since PSPG working groups were set up in July to consider the governance, operations and data issues of an LEI system. But concern remains around a lack of…
Talking Reference Data with Andrew Delaney: Talking LEI on the LIE
All eyes are on Basel – even here in New York, where practitioners and other interested parties are awaiting with some trepidation the outcome of next week’s Private Sector Preparatory Group (PSPG) meetings to determine next steps for the legal entity identifier. Up and down the LIE – that’s the Long Island Expressway, in case…