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SEC to Mandate Adoption of XBRL Financial Reporting For Large Publicly Listed US Firms

The Securities and Exchange Commission (SEC) has issued rules requiring large publicly held US companies to adopt extensible business reporting language (XBRL) for their financial reporting by 15 December. This follows the SEC Advisory Committee on Improvements to Financial Reporting’s report, released in February, which recommended that companies should use XBRL to tag their financial…

SEC’s Cox to provide guidelines for adoption of XBRL

Christopher Cox, the Securities and Exchange Commission (SEC) chairman, is expected to release recommendations this week about how US companies can adopt extensible business reporting language (XBRL) for their financial reporting. This follows the SEC Advisory Committee on Improvements to Financial Reporting’s report, released in February, which recommended that companies should use XBRL to tag…

Taking the Risk Out of Mutual Fund Compliance By Jeff Levering, Vice President, NewRiver

Selling a mutual fund requires complex mutual fund information to be summarised down into data that sellers can understand, which is most often driven by a technology or data warehouse infrastructure. Missing and/or bad mutual fund data is nothing new, but it has recently garnered the attention of regulators as it was directly responsible for…

IntellectSpace Releases FN Knowledge Mapping

IntellectSpace has introduced IntellectSpace FN Knowledge Mapping, a solution for investment banks and private equity firms that automatically discovers, analyzes, and visually maps key relationships among companies and people. IntellectSpace FN is an engine that draws on the SEC disclosures and corporate announcements to graphically represent the underlying relationships that can reveal both risk and…

DTCC ‘Golden Copy’ Repository Is Good News for Credit Markets

News that the Depository Trust & Clearing Corp. plans to build a central repository for holding so-called golden copies of trade details for the OTC derivatives marketplace – and in particular for credit derivatives – will be welcomed by industry participants. Certainly, the credit derivatives marketplace has been crying out for help in getting its…

J.P. Morgan Adopts Central Reference Data Hub To Support Global Credit Trading Operation

J.P. Morgan Chase is building a business-aligned reference data hub in support of the major reengineering of its credit trading operation onto a single platform. The hub – essentially a central global hub for credit reference data – will commingle corporate data, vendor data and business-specific data into a single, unified service available to all…

JPMorgan WSS Launches Sites For Compliance Officers

JPMorgan Worldwide Securities Services has introduced two new websites targeted at chief compliance officers to help them meet various mutual fund compliance requirements. The U.S. Securities and Exchange Commission requires mutual funds to appoint COOs and implement comprehensive policies and procedures to prevent fund companies and advisors from violating SEC regulations and securities laws. The…

Should the Registrars Become a Data Vendor? By Gary Wright MSI, CityCompass Research

The problem with data in the securities industry today is there is too much of it coming from too many different sources and in too many different forms. The cost therefore of gaining the data you want and need, has never been greater and this is in the 21st Century with the world of the…

Clark, Rawal, Brett, Hoffman Join Telekurs Financial’s U.K. Team

Following some recent departures, Telekurs Financial has bolstered its U.K. team with a few hires. Sheena Clark is filling the gap left by Tim Fox in the data acquisition role reporting to Jon Wheeler. Clark has 15 years experience in the market data industry, including more recent roles at Mighter Gissing and PR Newswire. Long…

FT Interactive Data Keen to Put SEC Pricing Slap Behind It

Financial Times Interactive Data (FT Interactive Data) will be anxious to dispel any industry disquiet caused by its settlement this month with the U.S. Securities & Exchange Commission (SEC). FT Interactive Data was named in the SEC’s civil fraud action against mutual fund company Heartland Advisers, allegedly for allowing Heartland to influence FT Interactive Data’s…