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TRAction Rolls Out New Regulatory Reporting Solution
Regulatory reporting specialist TRAction has launched a new MiFID II reporting solution utilising Refinitiv data to help UK and European investment managers meet Best Execution requirements. With around a fifth of all investment firms in talks with the FCA about errors in their transaction reporting under MiFID II, according to an FOI request carried about…
Libor Transition: Have You Thought About FRTB Yet?
It comes as no surprise that the ongoing Libor transition is posing and will continue to pose massive data management challenges for banks and affected financial institutions – many of which we have already covered in detail in these pages. But one factor that might perhaps have been overlooked is the impact of the LIBOR…
Recorded Webinar: Last minute preparations for SFTR: What still needs to be done and are we ready?
The regulation clock is ticking. Financial firms, especially those subject to Phase I of implementation, are well aware of the impending April 2020 deadline for the Securities Financing Transactions Regulation. The question is, are they ready? Tactical, i.e painful, approaches to compliance won’t be good enough. A strategic plan of attack is necessary to combat…
Broadridge Acquires FundsLibrary in European Data Push
Broadridge Financial Solutions has completed its acquisition of European fund data specialist FundsLibrary in a bid to boost its pan-European regulatory communications and digital data platform, which supports the lifecycle of fund data, documents, and regulatory reporting for the investment industry. FundsLibrary’s solutions enable fund managers to increase distribution opportunities and help them comply with…
PRA Appoints PwC to Investigate Goldman Sachs’ Regulatory Reporting
The UK’s Prudential Regulation Authority (PRA) is believed to have appointed PwC to undertake a “skilled person’s report” on Goldman Sachs to scrutinise the quality of its regulatory reporting out of its London offices. The move comes in response to concerns around its lack of oversight, and the quality of information being supplied to the…
FCA Sees Suspicious Transactions Decline for 2019
The UK financial watchdog has seen the number of suspicious transactions and order reports (STORs) go down for the first time since 2016, according to its latest STORs report for December 2019. The regulator suggests that more robust steps taken by firms to tackle financial crime risks could be part of the reason for the…
Last Minute Preparations for SFTR: Are You Ready Yet?
The clock is ticking, and the initial SFTR deadline is barely a month away – but with delays, regulatory opacity and widespread industry concerns around the data challenges posed by such a substantial change, is an April implementation even achievable? Tactical approaches to compliance won’t be good enough. A strategic plan of attack is necessary…
Skills and Systems Investment Surging in Financial Services, Finds TR Regulatory Intelligence Report
The right talent plays a crucial role in leveraging the benefits of RegTech within financial services firms, according to the fourth edition of Thomson Reuters’ annual regulatory intelligence report, released today. ‘Fintech, Regtech & the Role of Compliance in 2020: The Shifting Regulatory Role’ urges regulators and policymakers to ensure they have the appropriate up-to-date…
DTCC’s SFTR Community Swells to 160 Ahead of 2020 Deadline
A total of 138 clients have signed up to adopt, and more than 30 vendors have partnered with, the Global Trade Repository (GTR) service post-trade market infrastructure provider DTCC, in order to meet their regulatory obligations under the forthcoming European Securities Financing Transactions Regulation (SFTR). SFTR is expected to take effect for banks and broker-dealers…
Nice Actimize Builds out X-Sight Marketplace with Acuris Addition
Financial crime specialist Nice Actimize has added anti-money laundering and data intelligence capabilities to its financial crime and compliance ecosystem through two new partnerships. Acuris Risk Intelligence and Sayari Labs will provide customised solutions for X-Sight Marketplace, a platform connecting financial services organizations with data, applications, tools and service providers. “Change in financial crime has…