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Prioritise Your Projects in Light of the Regulations Coming Down the Pipe, Says Nomura International’s Bannocks

Firms need to get a good handle on the regulations coming down the pipe and how they will impact the data management function, as well as prioritising them in order of timeframes, said Chris Bannocks, managing director and global head of reference data, Operations, Nomura International. Speaking at this week’s JWG organised event on next…

JWG’s Di Giammarino Highlights the Potential Cost of the OFR for Individual Systemically Important Firms

The Office of Financial Research represents a “game of chicken” between the regulatory community and the industry, said PJ Di Giammarino, CEO of think tank JWG, at this week’s event on the regulatory data radar in 2011. “If you don’t provide feedback and get your act together by 15 July deadline, it could get pretty…

EBF Highlights Concerns About CCPs and Systemic Risk in its Feedback to Commission’s Market Infrastructure Reforms

There has been a lot of discussion about the pros and cons of mandating clearing for OTC derivatives (see coverage of recent industry comments here) and the comments received so far by the European Commission on the subject have tended to focus on a proportional, rather than broad brush, approach to the reforms. The European…

Philadelphia Fed’s Nakamura Proposes Instrument Database, But What About the Office of Financial Research?

Proof yet again that the US regulatory community might not be aware of the implications of the Office of Financial Research reform proposals comes in the form of recent comments made by Philadelphia Federal Reserve Bank economist Leonard Nakamura. Nakamura made proposals last week that an all encompassing instrument database be established to help regulators…

Engineering Approach to Data Management Challenges of New Regulation is Best, Says HSBC’s Johnson

The deluge of regulatory change that is facing the data management community is best tackled by adopting an engineering approach, according to Chris Johnson, head of product management, market data services at HSBC Securities Services. Speaking at a recent Thomson Reuters pricing event as a data management representative rather than on behalf of HSBC, Johnson…

Fed’s Tarullo Once Again Champions Resolution Plans, BCBS Publishes New Recommendations on Subject: Data Challenges in Spotlight

Regular readers of Reference Data Review should be no strangers to the data and practical implementation challenges of resolution, or living wills, regulations that are the talk of the town at the moment. After all, US Federal Reserve governor Daniel Tarullo is just one of the high profile regulators that has been grandstanding about them for some…

US Financial Reform Bill Includes Key Data Standardisation Recommendations

The recently published US Financial Reform Legislation Bill contains important data standardisation proposals including the establishment of an Office of Financial Research to monitor and collect data from across the industry. The new regulatory body would include a data centre that would be charged with doing the legwork, namely collecting, validating and maintaining all the…

13 Vendors Participate in UK FSA’s February Gabriel Liquidity ISV Forum

As noted by Reference Data Review last month (see here), the UK Financial Services Authority (FSA) has pledged to support the data vendor community in adapting to the new regulatory order and, accordingly, has set up an independent software vendor (ISV) discussion group to discuss liquidity risk requirements. The group’s first meeting was held on 16 February…

RBC’s Sutton and JWG’s Di Giammarino Promote Customer Data Best Practices

This week, JWG has published its finalised industry guidance on the maintenance of wholesale customer data, which was compiled by the industry think tank’s Customer Data Management Group (CDMG). Julia Sutton, who last year joined the Royal Bank of Canada (RBC) as a director of global reference data (see our people move story here), explains…

UK FSA Pledges Commitment to Support Vendor Community in Data Space

There may be troubles ahead for the UK Financial Services Authority (FSA) with the impending departure of current CEO Hector Sants in the summer, but, in the meantime, the regulator has pledged to support the data vendor community in adapting to the new regulatory order. To this end, the regulator is strengthening its efforts around…