A-Team Insight Knowledge Hub RTI The latest content from across the platform
FCA Updates Handbook Website Using Governor Software
Governor Reg: FCA, a live version of the FCA Handbook allowing UK regulated financial institutions to map, track and report regulatory compliance, was today integrated into the FCA Handbook website to enhance overall user experience, improve navigation and provide .csv downloads of relevant items. To further help UK regulated firms to stay compliant, the firm…
5AMLD is Coming – But UBO Reporting Requirements Remain Unclear
The EU’s Fifth Anti-Money Laundering Directive (5AMLD) is on the way, with the deadline of January 10, 2020 fast approaching. The regulation lays out substantially upgraded requirements for the data that companies must hold – including “adequate, accurate and current information” on beneficial ownership – and there are fears that the industry is not yet…
DBS Bank Selects Exiger to Help Combat Risks of Financial Crime
Singapore-based DBS Bank has partnered with Exiger, a provider of tech-enabled financial crime, risk and compliance solutions, to implement an artificial intelligence (AI) powered due diligence solution to streamline and support the bank’s screening processes. The automated AI-powered solution, DDIQ, analyses content with cognitive reasoning to accelerate and enhance risk assessments of clients, investments, transactions,…
A-Team RegTech Summit Emphasises Urgency of Efficient, Enterprise-Wide Compliance
A-Team Group’s RegTech Summit made a triumphant return to a full house in New York last Thursday, with an excellent turnout of over 230 practitioners, regulators, start-ups and solution providers all keen to explore how the financial services industry can best leverage technology to drive innovation, cut costs and support regulatory change. Colin Ware, Global…
DTCC Delivers Beta Version of FRTB Data Service
The Depository Trust & Clearing Corporation (DTCC) has launched a beta version of its FRTB Real Price Observations Data Service. The service enables the mapping of risk factors to a pool of global derivatives data to gain insight on modellability results in accordance with the Fundamental Review of the Trading Book (FRTB) framework. FRTB, released…
TruNarrative Expands to US with New Offices in Atlanta
Financial crime and compliance management platform TruNarrative has expanded into the North American market with new US headquarters in Atlanta, Georgia. The UK-based firm was founded in 2016 and provides a no-code platform connecting multiple identity verification, fraud detection, eKYC, and AML compliance data providers via a single API. “Launching our platform across European markets…
Silent Eight Wins Funding From SC Ventures
AI-powered anti-money laundering start-up Silent Eight has raised $6.2 million in Series A funding from a group of investors including SC Ventures, the fintech and ventures unit of Standard Chartered Bank. Other investors included OTB Ventures and Wavemaker Partners. Standard Chartered is the largest client of Silent Eight, and has implemented the firm’s sanctions screening…
Speeding up the Onboarding Experience, FactSet-Style
This week’s RegTech Summit in New York welcomes an array of leading-edge innovators to discuss the biggest issues, challenges, innovations, and opportunities in the RegTech industry today. One of these is the tricky question of how to digitise the customer experience with KYC and AML technology, and joining us to discuss the issue is Ali…
SEC Extends MiFID II Exemption Once Again, FCA Approves for UK Dealings Post-Brexit
The US Securities and Exchange Commission has once again extended its October 26, 2017 no-action letter allowing US banks to sell research directly to European fund managers under MiFID II without registering as investment advisors. Set to expire on July 3, 2020, the letter has been extended for a further three years to July 3,…
Tipping the Balance: The Growing Importance of Consolidated Surveillance
Transaction reporting may have started off as a baby elephant but as regulators increasingly focus on the importance of accurately recorded data, and the regulatory landscape becomes ever more complex, that animal is getting bigger. MiFID II and MiFIR transformed the scope of transaction reporting for financial firms, requiring them not only to guard against…