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CFTC Releases Draft Implementation Proposals, Data Reporting Timelines are a Key Consideration
Following on from the decision last week to give the industry an extra 30 days in which to provide feedback on the majority of its recent proposals, the Commodity Futures Trading Commission (CFTC) has released a short consultation paper concerning the phased implementation timelines for the swaps component of the Dodd Frank rules, which highlights…
State Street Vision Report Examines the Impact of Regulatory Change Within Europe’s Investment Management Industry
State Street Corporation today released the latest of its Vision Focus reports which identifies trends within the European investment management sector. Entitled, “The Changing Shape of European Investment Management,” the report examines the wave of new regulation worldwide and its impact on business practices and operating models. According to the report, regulatory efforts have shifted…
ISDA Raises Concerns About Representation of Liabilities in Recent FASB/IASB Exposure Draft
The International Swaps and Derivatives Association (ISDA) has raised its concerns about the representation of an entity’s financial position, solvency, and exposure to credit and liquidity risk in the proposals in the Financial Accounting Standards Board (FASB) and International Accounting Standards Board’s (IASB) recent exposure draft on the offsetting of financial assets and financial liabilities….
SEC and CFTC Agree on Definitions for Swaps, Now Over to You for Feedback…
The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have this week finally provided some long sought after clarity regarding the definition of what classifies as a “swap” and hence should be covered by the new and incoming Dodd Frank derivatives requirements. These definitions should also provide some of the foundations on…
SEC Proposes Amendments to Remove Credit Ratings References in Several Rules Under the Exchange Act
In keeping with its ongoing crackdown on the credit ratings agencies, the Securities and Exchange Commission (SEC) has this week voted unanimously to propose amendments that would remove references to credit ratings in several rules under the Exchange Act. This is all part of the requirements contained in Dodd Frank to remove references to credit…
SIX Telekurs’ Filanowski Highlights the Biggest Data Challenges of Dodd Frank
The Dodd Frank Act contains a whole host of new and different data requirements in terms of reporting formats and potential standards, but how will all of this impact the practitioner and vendor communities directly? Reference Data Review speaks to Paul Filanowski, US product development at SIX Telekurs, about the changing US regulatory scene and how it…
Quantifi’s Latest Whitepaper Explores the Challenges in Implementing a Counterparty Risk Management Process
Quantifi, a provider of analytics, trading and risk management solutions for the global capital markets, has published a whitepaper entitled ‘Challenges in Implementing a Counterparty Risk Management Process’. The paper explores the key challenges for banks in the implementation of counterparty risk management, focusing on data and technology issues, in the context of current trends…
IMS Group Boosts Consultancy Practice
The IMS Group (IMS), a provider of global regulatory compliance consulting and integrated business support to the asset management and securities industry, has further bolstered its consultancy offering with the hires of Jonathan Mott, Oksana Selezneva and Claire Carpenter. IMS has seen a year of rapid growth, including the acquisition of compliance consultancy MMS in…
Data Quality on the Brain
The last thing I expected to hear during a panel on low latency technology deployment at this week’s Business & Technology of Low-Latency Trading (catchily dubbed BTLLT by fellow A-Teamers) conference in London was speakers talking about reference data quality. But that’s what happened. Everywhere I go people are talking about data quality. They might…
Only 12% of Buy Side Firms Ready for Data Requirements of Incoming Regulation, According to MoneyMate Survey
The buy side has a long way to go before it is ready for the regulatory onslaught it is facing over the next few years in terms of making its data management preparations, if recent figures from a MoneyMate survey of around 50 investment managers are to be believed. Only 12% of respondents indicated that…