RegTech Insight Regulations The latest content from across the platform
Firms Likely to Wait Until November Deadline to Comply with AII Reporting Requirements, Says Xtrakter’s Dingley
Although the UK Financial Services Authority (FSA) has provided a four month window for firms to become compliant with transaction reporting using the Alternative Instrument Identifier (AII), firms are likely to wait until the final November deadline for compliance before they begin using the new derivative instrument ID, according to Christopher Dingley, product manager for…
FATCA Compliance Will Cost Banks 5 Times that of Client Money Compliance, Warns Crossbridge
Crossbridge , the financial markets consultancy, today warned that complying with the incoming FATCA legislation from the US could cost investment banks five times as much as complying with the UK’s new CASS regulations, which will be implemented in little over a month’s time. Indeed, one bank that Crossbridge is working with has assigned 40%…
DataFlux Gains Solvency II Momentum with New European Insurance Customers
DataFlux, a leading provider of data management solutions, today announced that nine European insurance firms have selected its technology over the past few quarters to underpin their Solvency II data management initiatives. The DataFlux Solvency II data governance framework is being used by firms to take practical steps to adhere to a wide range of…
Xtrakter to Offer New FSA Reporting for Derivatives Trades
Xtrakter, a leading provider of capital market data, trade matching and regulatory reporting, is now reporting derivative transaction data for clients to the UK’s Financial Services Authority (FSA) using a newly implemented industry format – the Alternative Instrument Identifier (Aii). In compliance with MiFID, the use of Aii for transaction reporting across Europe for derivatives…
Lloyds Banking Group (LBG) Renews and Extends Strategic Outsourcing Contract with State Street
State Street Corporation, one of the world’s leading providers of financial services to institutional investors, announced today that Lloyds Banking Group (LBG) through its Life, Pensions and Investments business (Scottish Widows) and its Asset Management business (Scottish Widows Investment Partnership (SWIP) has renewed and extended its existing contract. State Street will serve as the preferred…
Sapient Global Markets’ Szybillo Backs Swift and DTCC as FX Trade Data Repository Providers
Swift and the Depository Trust and Clearing Corporation (DTCC) are pursuing a number of opportunities within the data infrastructure sphere, one of which is the establishment of a new global FX trade data repository. The idea has found favour with a number of industry associations and Alicia Szybillo, senior manager of Sapient Global Markets, reckons…
Who’s Certified to Operate as a Credit Ratings Agency in Europe?
As part of the regulatory crackdown on ratings agency in the post-crisis financial markets environment (and in accordance with Article 18(3) of the Credit Rating Agencies Regulation), the European Securities and Markets Authority (ESMA) is required to publish a list of all credit ratings agencies that have been registered or certified to operate in the…
Northern Trust Helps Clients Navigate the Foreign Account Tax Compliance Act (FATCA)
As part of its commitment to helping institutional clients manage the evolving regulatory landscape, Northern Trust hosted a webinar on 9 August 2011 that explored the impact of the Foreign Account Tax Compliance Act (FATCA) on fund managers. The webinar included an overview of FATCA, implications for fund managers globally and information on how Northern…
Hong Kong Monetary Authority Proposes New Trade Data Repository Reporting Standards, Keeps a Close Eye on LEI Developments
The Hong Kong Monetary Authority’s (HKMA) recently published consultation paper on reporting to the Hong Kong Trade Repository (HKTR) indicates that the regulator is aware of the “considerable amount of time” it will take for firms to be ready for reporting and that international standards developments need to be factored into the equation. The paper,…
GlobeOp Launches Form PF Reporting Service for Hedge Funds Ahead of SEC Deadline
With the first SEC deadline for private fund (Form PF) reporting currently less than six months away for many large hedge funds and managed account platforms, GlobeOp Financial Services has launched a reporting service to specifically support the requirements. “Many funds with more than $1 billion in assets under management (AuM) potentially face their first…