Editor’s pick
FCA on Coronavirus: Take No Prisoners?
Regulators around the world have taken a largely supportive approach to COVID-19, albeit with varying approaches. While some are in total lockdown, others are taking a more measured approach – but according to the word on the street, firms have been surprised by the ‘take-no-prisoners’ stance adopted by the UK’s Financial Conduct Authority (FCA). With...
Top Blogs
Not So Harmonious After All: Accommodating AnaCredit’s Maturing Requirements
By Frederic Bernard, Manager EMEA Capital & Credit, AxiomSL. In response to the credit crisis, the European Central Bank (ECB) launched the Analytical Credit Dataset (AnaCredit) project in 2011 to create a harmonized database and framework of rules regarding the credit exposure of credit institutions and other loan-providing financial firms. Yet since the inception of...
ESMA Relaxes SFTR Reporting – But Will National Regulators Respond?
Following calls from the industry and in response to the COVID-19 crisis, the EU regulator has effectively agreed to delay SFTR implementation until 13 July, 2020 – a three month reprieve from the original 11 April start date, but earlier than the October push-back trade associations had originally requested. However, with no formal powers to...
FCA on Coronavirus: Take No Prisoners?
Regulators around the world have taken a largely supportive approach to COVID-19, albeit with varying approaches. While some are in total lockdown, others are taking a more measured approach – but according to the word on the street, firms have been surprised by the ‘take-no-prisoners’ stance adopted by the UK’s Financial Conduct Authority (FCA). With...
Latest briefs
Compliance.ai Launches Insurance RegTech Solution in Response to COVID-19
Compliance.ai has announced comprehensive coverage for insurance-related regulatory content on its platform, which automates the complex steps within the regulatory compliance process for banks, financial services and insurance companies. The move comes in response to a rapid influx of new claims and actions in the US as a result of COVID-19, especially in the US,…
ICE Futures Waives Voice Recording, Time-stamping Requirements
ICE Futures US has granted temporary relief to intermediaries from the obligation to comply with certain requirements, including from the requirement to make and keep records of oral communications, as long as a written record is provided instead. The exchange has also granted relief from any requirement to record the date and time by time-stamp…
LexisNexis Closes Emailage Acquisition
LexisNexis Risk Solutions has acquired Arizona-based Emailage, a fraud prevention and risk management solutions provider that provides fraud risk scoring solutions based on email intelligence. Its fraud prevention solutions assess fraud risks by utilizing email address metadata, a differentiated global contributory network, and machine learning algorithms. Emailage, which has established market presence in the US,…
CFTC Issues COVID-19 Relief
The US Commodity Futures Trading Commission (CFTC) has relaxed rules around voice and telephone recording for swap execution facilities up until the end of June, along with relief to designated contract markets regarding audit trail and related requirements over the same period. The spread of coronavirus has caused compliance with certain CFTC requirements to be…
REGIS-TR Joins with GLMX on SFTR Delegated Reporting services
The European trade repository REGIS-TR will collaborate with GLMX, provider of pre- and post-trade technology solutions for repurchase agreements and secured lending, to provide an interoperable, full-service reporting solution for SFTR requirements. Together, they will offer a hosted solution that leverages existing industry data workflows to lower cost and operational burden of SFTR. GLMX has…
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…
Singapore Bank Selects NICE Actimize’s AML Essentials to Launch Digital Platform
TONIK, a Singapore-based pure play licensed digital bank, has selected the Essentials Anti-Money Laundering solutions suite from NICE Actimize to support the development of a secure banking environment for its new customer base following approval to establish a regulated bank in the Philippines. One of the first digital-only banks in the region in the Southeast…
HKMA Invites RegTech Tenders
The HKMA (Hong Kong Monetary Authority) is inviting tenders for the provision of professional services to help it facilitate the adoption of RegTech by the banking industry, with services expected to commence in May 2020. Submission details can be found in the tender document, which can be obtained upon request by email to regtech@hkma.gov.hk.
ESMA Consults on New MiFIR and MiFID II Regimes for Third-Country Firms
The European Securities and Markets Authority (ESMA), the EU’s securities markets’ regulator, has launched a consultation on draft technical standards on the provision of investment services and activities in the European Union (EU) by third-country firms under MiFIR and MiFID II, which will specify the information that third-country firms must provide to ESMA for the…
BearingPoint Expands Business in Sweden
BearingPoint RegTech has won Stockholm-based GCC Capital AB (GCC) as a new customer for its Abacus360 Banking solution, a Regulatory-as-a-Service (RaaS) model. GCC will use Abacus360 Banking to fulfil its EBA reporting. In addition to RaaS, the solution for GCC also includes professional services covering the use of a cloud-based data management solution as well…
ESMA Launches Supervisory Action On MiFID II Suitability Rules
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is launching a common supervisory action (CSA) with national competent authorities on the application of MiFID II suitability rules across the EU, to be conducted during 2020. The CSA will focus on the application of the MiFID II requirements on the assessment of…
Pelican Expands in South Korea
Pelican, a global provider of AI-powered payments and financial crime compliance solutions for banks and corporates, has expanded its global sales reach through a partnership with CMSoft Co in South Korea. The new strategic partnership will enable the company to bring its PelicanSecure Trade Compliance solution to the financial services industry in South Korea. “We…
Encompass Receives £2m Grant for AI Project
RegTech Encompass has been awarded a £2 million grant from Scottish Enterprise to develop an AI engine to accompany its KYC product offering. The funding, part of a £4.9, project, will help customers to accurately find risk relevant information about their organisations and investments, from a wide-ranging pool of data. “We have a long-standing relationship…
Swiss Indices Endorsed Under the EU Benchmarks Regulation
SIX has received the approval by the Swedish Financial Supervisory Authority that its major Swiss Indices are compliant with the EU Benchmarks Regulation. The approval was granted for a total of 39 equity, fixed income and money market indices. The flagship indices SMI and SARON (the Swiss franc reference rate) are also included. The aim…
RMA Issues SFTR Reporting Contract Template
Following the January release of the final SFTR report by ESMA, the US-based Risk Management Association has issued a new standard legal agreement to address mandatory reporting obligations for SFTR, ahead of its initial go-live date of April 11. The template follows in the footsteps of the Master Regulatory Reporting Framework launched by the International…
Latest people
Brett Schechterman Leaves Rimes for IHS Markit
IHS Markit has hired asset management technology expert Brett Schechterman as the Global Head of cross-asset class investment management platform thinkFolio. Schechterman will report to Senior Vice President and Head of Solutions Andrew Eisen. He was formerly Head of Fixed Income Platform Solutions at UBS Asset Management and has also held senior roles at Legal…
Patrick Ludden Joins Kaizen Reporting
Patrick Ludden becomes the latest senior hire to join the Kaizen team. Ludden will be a Regulatory Reporting SME, bringing with him over 25 years of extensive experience in finance, operations and technology functions. Previous to joining Kaizen, Ludden spent six years providing regulatory reporting expertise to HSBC Global Markets and prior to that, working…
Tony Freeman Departs DTCC
Tony Freeman, former Executive Director of Government Relations at DTCC, has left the company. A respected European regulatory expert, Freeman joined DTCC in April 2019 to focus on policy issues, and was heavily involved in the firm’s response to Brexit, as well as responsible for relationships with UK regulators and policy makers. He previously worked…
Advocacy Body GDF Announces New Partnership, Team Members
Global Digital Finance (GDF), an industry body advocating and accelerating the adoption of digital assets, has partnered with Washington-based advisory and advocacy firm FS Vector and announced four new senior appointments to boost its global policy and regulatory affairs capability. John Beccia of FS Vector will now lead US Regulatory Affairs for GDF, while European…
Aquis Exchange Appoints New Consultant David Buik
Pan-European cash equities trading business Aquis Exchange has appointed well-known market commentator David Buik as a Consultant, starting March 2, 2020. Buik started work at Philip Hill Higginson Erlangers in the City of London and later worked for City Index Group, Cantor Fitzgerald and BGC Partners, and most recently Core Spreads. “I am delighted to…
Kamlesh Harry Joins ACA Compliance Group, Launches New Risk Assessment Service
Former JP Morgan executive Kamlesh Harry has joined ACA Compliance Group as Senior Principal Consultant heading up the firm’s ACA Aponix division (which focuses on cybersecurity, privacy, and risk). The group today released its new payment and fraud risk assessment (PFRA) offering, overseen by Harry, which is designed to help firms identify and remediate vulnerabilities…
Alan Samuels Joins Encompass Corporation
KYC specialist Encompass Corporation has appointed Alan Samuels to the position of Head of Product, leading the firm’s global product team. He joins from Exiger, where he was VP and global head of DDIQ. He was previously head of entity verification services at Bloomberg KYC and head of reference data services at Opus-Alacra. “At a…
Broadridge Appoints Chris Perry President
S&P 500 firm Broadridge Financial Solutions has appointed Chris Perry as President, effective March 2, 2020. Perry currently leads Broadridge’s Global Sales, Marketing and Client Solutions organization, and is taking over the role from Broadridge CEO Tim Gokey, who remains CEO and a Director of the Company. Following the appointment, Perry will expand his current…
Gresham Technologies Gears Up with New Sales Appointment
Data integrity and control software provider Gresham Technologies has appointed Mark Bolton as its new Head of International Sales to spearhead its global growth plans. Bolton will be responsible for directing the firm’s sales strategy across Asia and North America, and identifying target market segments for expansion across the entire Clareti platform. Prior to joining…
SteelEye Appoints Rob Bernstein as Chief Financial Officer
Compliance technology and data analytics firm SteelEye has confirmed the hire of Rob Bernstein as its new CFO. He joins from RegTek Solutions, which was acquired by Bloomberg in August 2019, where he was CFO since February 2018. Bernstein has more than 10 years’ experience as a finance executive, formerly with London-based tech firm TIM…
AxiomSL Establishes Business Operations Centre in Ireland
Regulatory reporting and risk management solutions provider AxiomSL is opening a new business operations centre in the National Technology Park in Limerick, Ireland, with plans to create up to 100 jobs over the next five years. The centre will initially house technical support and product management for AxiomSL’s RegCloud offering, and is supported by the…
Giles Nelson Departs MarkLogic
Giles Nelson, former Chief Technology and Strategy Officer, Financial Services at MarkLogic, has departed the firm as of December 2019. A-Team Group understands that MarkLogic will not be replacing him in the position. Nelson, who has not yet indicated his next move, joined the firm in August 2018. He previously held the role of Senior…
New CEO For ACA Compliance Group
Global GRC specialist ACA Compliance Group has appointed Shvetank Shah as CEO, effective from today. Shah joins the firm from Gartner, where he spent 17 years, most recently as Senior Vice President of its Technology & Service Provider practice. Shvetank will be based in ACA’s Silver Spring, MD office, and will oversee all global operations…
Oliver White Departs Fenergo for Enveil
After almost six years with Fenergo as UK Head of Sales, Oliver White has moved over to take up the position of EMEA Head of Sales with data security specialist Enveil, pioneer of protecting Data in Use. Before joining Fenergo in 2014, White spent eight years with Avox as UK Head of Sales, and was…
Refinitiv Hires Andrea Remyn Stone as Chief Customer Proposition Officer
Financial markets data and infrastructure giant Refinitiv has appointed Andrea Remyn Stone as Chief Customer Proposition Officer and member of the Executive Leadership team, reporting to CEO David Craig. Joining from Dealogic, where she was the Chief Strategy Officer, she will focus on working with customers to develop innovative solutions in open platform technology collaboration…
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RegTech Summit London
Now in its 4th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
FEATURED GUIDE
Entity Data Management Handbook – Sixth Edition
High-profile and punitive penalties handed out to large financial institutions for non-compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations have catapulted entity data management up the business agenda. So, too, have industry and government reports on the staggering sums of money laundered on a global basis. Less apparent, but equally important, are…
Top White Papers
Financial Markets Operations Response to COVID-19: Best Practices for Working from Home
The COVID-19 pandemic is disrupting all walks of life, and carries with it implications for society beyond even the obvious and immediate health impact. Business is being hit across the board, with many corporations sending staff home in an effort to keep them both safe and working. It’s clear that firms can’t rely on a...
Addressing the Reference Data Challenges of SFTR
The EU’s Securities Financing Transactions Regulation (SFTR), which comes into effect in April 2020, is a data-heavy transaction reporting regulation along the lines of MiFIR and EMIR, but has a significant reference data element as well. The regulation is extensive, with some 150 data fields in its mandatory regulatory reports, a dozen of which will...
Trade Surveillance and Mobile Recording in the Era of Data Privacy
The EU’s MiFID II and other regulations globally have placed greater emphasis than ever on market surveillance, recording of trading communications and records-retention processes in an attempt to stamp out market abuse and boost investor confidence and protections. At the same time, the public’s attitude toward data privacy has hardened, most visibly through new regulations...
Events and webinars
RegTech Summit New York City
Now in its 4th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
Find out moreRegTech Summit London
Now in its 4th year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
Find out moreBreakfast Briefing: FRTB London
The FRTB Breakfast Briefing will examine key focus areas and priorities for banks in 2020 and offer guidance, advice and expertise for tackling the challenges and pain points around implementing the FRTB regulation.
Find out moreTop Knowledge Hub picks
MiFID II
Markets in Financial Instruments Directive II (MiFID II) builds on the original MiFID of 2007 to improve the competitiveness of European markets by creating a single market for investment services and activities, and ensuring protection for investors in financial instruments. Read everything you need to know and get access to all related content.
Regulatory Reporting
Regulatory reporting comprises the submission of raw or formatted data as required by regulators to evaluate and track the financial and operational status of financial institutions and their compliance with required regulatory provisions. Find out all about it in our Knowledge Hub.
Market Abuse Regulation (MAR)
The Market Abuse Regulation (MAR) provides an EU-wide regulatory framework on market abuse, including measures to enhance the attractiveness of securities markets for capital-raising through the prohibition of practices such as insider dealing, unlawful disclosure of inside information and market manipulation. Find out more and access all our key resources here.
Awards
RegTech Insight Awards
The RegTech Insight Awards recognise the best of the best in the RegTech industry. Find out how to vote, enter or see the past winners.
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