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Recorded Webinar: Best practice for Regulatory Change in 2021 and beyond
How to get regulatory change management right and avoid the risks of getting it wrong The burden of regulatory change on financial firms has never been greater, leaving compliance teams under increasing pressure to ensure that changes are reviewed and acted upon in a timely manner. Technology enhancements in this space can help, allowing firms…
Confluence Outlines Development Plans Following Acquisition Agreement with Clearlake Capital Group
Clearlake Capital Group’s agreement to acquire a majority stake in Confluence provides the regulatory and data solutions provider with backing to accelerate global expansion, develop additional solutions, integrate emerging technologies, and continue down the acquisition trail. Clearlake will acquire Confluence from private equity firm TA Associates, which partnered with Confluence in 2018 and will continue…
Rising AML Costs Driven by Regulatory Initiatives Rather than Crime Threat, LexisNexis Survey Finds
Regulation itself is the primary driver behind an expected rise to £30 billion in UK financial institutions’ annual AML costs to £30 billion by 2023, a survey from LexisNexis Risk Solutions has found. The increase, from £28.7 billion in 2020, appears set to be invested in personnel rather than technology, however, with the survey –…
Financial Institutions Delusional on Quality of Regulatory Reports, ACA Study Finds
Despite finding that 87% of firms are confident in the quality of their MiFIR and/or EMIR reports, research commissioned by ACA Group has discovered that 97% of reports submitted to regulators via Approved Reporting Mechanisms (ARMs) and Trade Repositories contain inaccuracies. The research found reporting data quality to be poor, with each report containing an…
KeyBank Goes Live with SmartStream’s Cloud Collateral Management Solution
US-based KeyBank has deployed transaction management solutions vendor SmartStream Technologies’ TLM Collateral Management OnDemand solution to handle margining for its cleared and non-cleared OTC derivatives, repos and securities lending business. The cloud-based solution is now live and is helping to streamline efficiencies within KeyBank’s collateral management operations, handling data capture, validation, calculation and processing. The…
Lexis-Nexis Financial Crime Report Urges Multi-Layered Approach to Compliance, ID Proofing
Adopting a multi-layered approach to financial crime compliance and identity proofing is an essential best practice for financial institutions seeking to protect themselves from fraud and other criminal activities. That’s among the key findings of this year’s edition of LexisNexis Risk Solutions’ annual True Cost of Financial Crime Compliance Global Report. The report – based on…
The Great and the Good Gather for A-Team’s RegTech Virtual Event This Week
The global RegTech community gathers virtually this week for A-Team’s RegTech Summit Virtual, which kicks off on Wednesday. Over its two-day programme of must-attend sessions, the conference will offer an assessment of the global RegTech landscape, plus discussions ranging from the ongoing regulatory reporting challenge, the emerging conduct compliance requirement, addressing financial crime and other…
Recorded Webinar: Getting ready for Sustainable Finance Disclosure Regulation (SFDR) and ESG – what action should asset managers be taking now?
Interest in Environmental, Social and Governance (ESG) investment has exploded in recent years, bringing with it regulation and a requirement for buy-side firms to develop ESG strategies and meet disclosure obligations. The sell-side can help here by integrating ESG data with traditional financial information, although the compliance burden remains with asset managers. The EU Sustainable…
SteelEye Targets Buy Side with Three-Tiered Surveillance Suite
SteelEye has launched a three-tier suite of communications compliance capabilities aimed at addressing the regulatory obligations of any size of financial institution. SteelEye is hoping this flexibility of approach makes its record-keeping and surveillance platform more appealing to smaller buy-side players that often lack the budget or resource capability to implement extensive platform solutions. SteelEye’s…
Relativity Acquires Text IQ to Boost Surveillance, Legal Review Capabilities
Legal and compliance technology company Relativity has acquired Text IQ, which uses artificial intelligence (AI) to identify sensitive data for financial services clients including Morgan Stanley, Goldman Sachs, US Bank and Bank of America. Relativity says the acquisition will augment its surveillance and legal review capabilities, in particular general privilege reviews for litigation, and responses…