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DTCC Releases White Paper on Managing Post-Covid Risk
The Depository Trust & Clearing Corporation (DTCC), a provider of market infrastructure for the global financial services industry, has released a white paper identifying key priorities where financial market infrastructures (FMIs) should focus in the coming years to proactively and effectively manage risk in a post-pandemic environment. FMIs around the globe performed remarkably well amid unprecedented market…
ATP Goes Live with SimCorp’s SFTR Solution
ATP, Denmark’s largest public pension fund, has gone live on SimCorp’s cloud-based SFTR solution. ATP’s go-live coincides with the reporting start date for the third phase of SFTR, on January 11, where it joins several SimCorp clients who have smoothly transitioned to the cloud-based regulatory reporting platform, and successfully automated reporting to their chosen Trade…
Two Golden Sources: How Will the New FCA FIRDS System Hold Up Post-Brexit?
At the end of 2020 the UK’s Financial Conduct Authority (FCA) lost access to the EU’s MiFID database: instead launching its own FIRDS system. It’s a big change, and it could have a significant impact on the way firms are able to manage their transaction reporting requirements. The new FCA FIRDS database was built to…
Q&A: The Future of Regulatory Reporting
Tom Wieczorek, MD of Global Product Management at UnaVista, part of the London Stock Exchange Group, gives us his unique insights into the key challenges and opportunities within today’s rapidly evolving regulatory reporting environment – and what firms should be doing to stay ahead. What are the key functional challenges for those seeking to implement…
BXS Launches Rule 606 Consolidator Tool
BXS, a New York-based compliance reporting and analytics solutions provider, has launched a new Rule 606 Consolidator tool. Available to all existing BXS customers, the new add-on provides a comprehensive view of brokers’ public Rule 606 report filings, allowing market centers to analyze how their clients and prospects are routing order flow and how their…
IHS Markit Expands Reporting Capability with Cappitech Acquisition
As the global demand for regulatory reporting solutions continues to soar amidst a challenging environment, IHS Markit has taken the bull by the horns with its acquisition of Israeli RegTech specialist Cappitech. Financial terms were not disclosed, but it seems as if the deal may have been in the pipeline for a while. Although Cappitech…
Covid Proof: The Future of Onboarding High-Net-Worth Clients
By Hugo Chamberlain, COO, smartKYC. The future of high-net-worth client onboarding has arrived – and it is one well suited for our post-COVID world. Automated and paperless, it enables wealth managers to accelerate acquisition, fully comply with the most stringent KYC regulations and deliver a frictionless start to the beginning of the client relationship. In…
Fenergo Automates Client Onboarding Systems for Mizuho Americas
Mizuho Americas has deployed Fenergo client lifecycle management (CLM) software to automate Know Your Customer (KYC) and Anti-Money Laundering (AML) regulatory processes, digitalise workflows and accelerate client onboarding. The Fenergo implementation replaces manual processes and provides Mizuho Americas with a single, comprehensive view of customers across all business lines. Mizuho Americas’ parent, Mizuho Financial Group,…
Brexit is Here – But Sadly, Equivalence is Not
The UK has finally left the European Union. A trade deal was wrung out at the eleventh hour, allowing the two sides to trade with zero tariffs and quotas, but the financial services industry has been left hanging – with talk of an MoU around the regulation of financial services being reached only by March…
FCA Cracks Down on OMS Reporting Errors: Regulated Firms Pay the Price
By Matt Smith, CEO, SteelEye. Certain Order Management Systems (OMSs) have recently come under scrutiny from the FCA because of quality issues around MiFIR reporting. Firms that heavily rely on their OMS for daily regulatory reporting have been found to consistently over or under report their transactions. The responsibility for accurate reporting rests solely with…