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SGSS Highlights Expedited Data Support for Outsourced Customer Credit Suisse Asset Management in Germany
As part of its outsourcing deal with the Germany-based asset manager, Société Générale Securities Services (SGSS) migrated Credit Suisse Asset Management’s data in just six months, according to the asset servicing firm. The implementation involved moving data regarding 66 funds and around 7,000 individual positions to investment management system SimCorp Dimension. Credit Suisse Asset Management…
SEC Division of Investment Management Names Robert Plaze as Deputy Director and Diane Blizzard as Managing Executive
The Securities and Exchange Commission today announced that Robert E. Plaze has been named Deputy Director in the Division of Investment Management and Diane C. Blizzard has been named Managing Executive of the Division. As Deputy Director, Mr. Plaze will play an integral role in the Division’s regulatory program under the Investment Company and Investment…
SEC Plans 7 July Roundtable on IFRS Preparedness and Regulatory Impacts
The Securities and Exchange Commission (SEC) has indicated that it will be holding a public roundtable next week to discuss the industry’s current state of preparedness for a move to International Financial Reporting Standards (IFRS). The 7 July event will include three panel discussions on the subject of potential accounting system changes, as the US…
Broadridge Strengthens Team as Market Demand to Streamline Processing Operations Increases
Broadridge Financial Solutions today announced the appointment of two new executives to expand and grow its business in line with industry demand. As financial services firms are increasingly looking for solutions which can streamline processing operations and offer faster routes to market, Broadridge has hired Simon Bennett as Managing Director, Sales, for Broadridge City Networks…
Princeton Financial Systems Announces Christian Kuechler as Managing Director
Princeton Financial Systems announced that Christian Küchler has taken over the role of the Managing Director. Christian Küchler, who has been working with the company for eleven years, will now have responsibility for Professional Services, Sales and Marketing activities within Princeton Financial Systems GmbH. He will work together with Linda Kane who is Managing Director…
UK FSA Highlights “Serious Weaknesses” Within Firms’ AML and Customer Data Management Practices
As part of its crackdown on the industry’s systems and controls around anti-money laundering (AML) data, especially for politically exposed persons (PEPs), which it stepped up last year, the UK Financial Services Authority (FSA) has released the findings of a survey of these practices across the industry that highlights “serious weaknesses” in “many” firms. The…
Andrew’s Blog – The Problem with Standards?
Every few years I feel the compulsion to write a rant – known these days as a blog – about the problem with standards, and in particular standards relating to financial information. Usually, this is sparked by some new initiative to get competing vendors to live together peacefully so the marketplace can reap the benefits…
CFTC Announces the 22 Members of Kirilenko’s Data Standardisation Subcommittee, Google Bags a Slot
Following the announcement last month that it would be establishing a data standardisation focused subcommittee, the Commodity Futures Trading Commission (CFTC) has announced the selection of the 22 members of the team (out of the 52 that applied), which includes (interestingly) Google engineering research director Marc Donner. The other members, who will be led in…
Oracle Introduces Oracle Financial Services Hedge Management and IFRS Valuations
· Oracle Financial Services Hedge Management and IFRS Valuations is now available to help financial institutions easily comply with regulatory requirements for International Financial Reporting Standards (IFRS). · New IFRS requirements for documentation and transparency make manual and siloed hedge accounting and valuation processes impractical. Given market volatility, hedge accounting must be a fully automated…
IOSCO Highlights Dark Pool Post-trade Data Gaps, Lack of Global Venue Identification Standards
The International Organisation of Securities Commissions (IOSCO) has published its principles for the global dark pool community, which highlights the high degree of disparity across the post-trade data environment for these venues. In particular, it notes the lack of a common venue identification standard and trade reporting processes. IOSCO, which has also been working on…