RegTech Insight Regulations The latest content from across the platform
Virginie’s Blog – The Coming of the Regulatory Data Empire?
Not only has the Swift/Depository Trust and Clearing Corporation (DTCC) alliance been backed this week by a Sifma led industry coalition group to act as the issuer and registration authority for the new legal entity identification standard, but the partners have also received the support of a number of these same associations to establish a…
Thomson Reuters Survey Highlights Top Four Areas of Bank Concern for OTC Derivatives Regulation
The uncertainty surrounding upcoming over-the-counter (OTC) derivatives regulation is prompting concern amongst banks in four key areas, according to a recent survey by Thomson Reuters. The implications of the regulations on capital requirements, workflow, the cost to trade and liquidity for single-bank platforms were highlighted by banks as unknown outcomes of most concern resulting from…
Sifma Led Industry Coalition Backs DTCC/Swift as Facilities Manager and Issuer for ISO LEI, ANNA for Support Role
It’s official, the frontrunners in the bid to act as issuer and facilities manager for the incoming legal entity identifier (LEI), Swift and the Depository Trust and Clearing Corporation (DTCC), have received the backing of the 17 strong Sifma led coalition of industry associations and firms (some interesting dynamics in the makeup of the group…
Virginie’s Blog – The View from the Top
Ex-Financial Services Authority (FSA) head and British economist Howard Davies’ comments at this week’s SunGard City Day in London highlighted the seriousness with which firms should be treating Basel III, even if full implementation is eight years away. Davies called the new incoming regulatory standard on bank capital adequacy and liquidity “the most significant change…
New Warning Over Diverging Derivatives Rules
Proposed rules for derivatives trading could push up financing costs and create “material risks” for the global economy because of a lack of co-ordination, the US and European Union have been warned by the financial services industry. The warning is contained in a letter sent on Wednesday by eight leading trade associations – including the…
Cadis Forges Alliance with Targit in Germany
Cadis, the global EDM specialist, has certified its first set of graduates in Germany. targit, a German based consultancy firm, has received certification through the Cadis Centre of Excellence to efficiently install the Cadis EDM. targit adds to its credentials its work on the platform implementation at Baader Bank, Germany’s leading specialist in securities trading….
CFTC Publishes Two New Data Sets on Daily Net Position Changes
The U.S. Commodity Futures Trading Commission (CFTC) today announced the release of two new data sets that add further transparency to commodity futures markets. The new reports, entitled “Large Trader Net Position Changes” and “Trading Account Net Position Changes,” build on the CFTC transparency program initiatives. The data and explanatory notes, as well as average…
SGSS Highlights Expedited Data Support for Outsourced Customer Credit Suisse Asset Management in Germany
As part of its outsourcing deal with the Germany-based asset manager, Société Générale Securities Services (SGSS) migrated Credit Suisse Asset Management’s data in just six months, according to the asset servicing firm. The implementation involved moving data regarding 66 funds and around 7,000 individual positions to investment management system SimCorp Dimension. Credit Suisse Asset Management…
SEC Plans 7 July Roundtable on IFRS Preparedness and Regulatory Impacts
The Securities and Exchange Commission (SEC) has indicated that it will be holding a public roundtable next week to discuss the industry’s current state of preparedness for a move to International Financial Reporting Standards (IFRS). The 7 July event will include three panel discussions on the subject of potential accounting system changes, as the US…
Virginie’s Blog – OFR Plans to Staff up by September, But are Other Plans Afoot?
The Commodity Futures Trading Commission (CFTC) may have appointed all the industry reps it needs to its data standards subcommittee (see my earlier blog on which here), but the Treasury’s Office of Financial Research (OFR) continues to lag in the appointment process – not least of which is the selection of a director. The agency’s…