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FINRA CAT: What’s Next?
By Andrew Pheifer, CFA, CAIA, Director, EMS Product Management, SS&C Eze. The long-awaited Consolidated Audit Trail (CAT) is now live, ingesting billions of equity transactions daily from U.S. broker-dealers (Industry Members). The go-live has largely been considered a success, with more than 1,000 broker-dealers reporting into the CAT. The CAT’s origins date back to 2012…
Broadridge Announces Record New Signings as SRD II Deadline Approaches
In response to the upcoming September 3, 2020 deadline for the European Commission (EC)’s updated Shareholder Rights Directive (SRD II), Broadridge Financial Solutions this week confirmed a record number of new signings for its SRD II solution. “We are witnessing strong demand, and we are market-ready with our end-to-end solution across the shareholder communications chain,” says…
COVID-19 Effects on NSFR Reporting: Financial Institutions Must Set Sail Strategically Amid Choppy Seas
By AxiomSL. Concerns that effects of the COVID-19 pandemic could lead to a global liquidity crisis have caused a surge in regulatory requirements for liquidity monitoring and reporting that have hugely strained financial institutions. Meeting the net stable funding ratio (NSFR) lies at the heart of this operational and strategic challenge. New Standards On The…
SIX Launches Fully Delegated SFTR Reporting for Swiss Repo Market
The Swiss Stock Exchange’s SFTR reporting services is now live in synchronisation with the introduction of the SFTR regulation. Over 170 clients stand to benefit from this offering. The Swiss Stock Exchange automates the way it provides Unique Transaction Identifiers (UTI) creating a scale offering featuring SFTR-compliant and fully delegated reporting. For the delegated reporting, SIX…
Regulation Best Interest: A New Standard for US Brokers
The US Securities and Exchange Commission’s Regulation Best Interest—or Reg BI— officially came into effect on June 30, 2020. Brokerage firms now have to comply with a whole new standard of conduct when dealing with retail clients, in one of the biggest regulatory shake-ups for the US market in years… but there have been concerns…
TriOptima Extends Collaboration with DTCC on SFTR
TriOptima, an infrastructure service that helps to lower costs and to mitigate risk in OTC derivatives markets, has extended data connectivity between The Depository Trust & Clearing Corporation (DTCC) Global Trade Repository (GTR) service and TriOptima’s triResolve platform to help market participants validate their reported securities financing transactions as they prepare for SFTR compliance. Through…
FINRA Fines Morgan Stanley for Incorrect Trading Data
The Financial Industry Regulatory Authority (FINRA) has fined Morgan Stanley $875,000 for failing to provide accurate trade data (also known as “blue sheets”) in an automated format when requested to do so by FINRA and the SEC. The regulator found that the bank had experienced significant failures in its blue sheet systems between 2014 and…
TRAction Fintech Expands Alliance with UnaVista on Regulatory Reporting
Specialist regulatory reporting firm TRAction Fintech has expanded its existing collaborative partnership with UnaVista, the regulatory reporting platform of the London Stock Exchange (LSE), in a bid to simplify MiFID II, EMIR and SFTR reporting for FX and CFD brokers. The alliance is designed to enable easier integration of trading platforms with regulatory reporting systems,…
SFTR Reporting Goes Live – But Is the Industry Ready?
The first deadline for new transaction reporting under the UE’s SFTR went live on July 13, and while the first phase seems to have come off relatively smoothly, there are still some concerns around the readiness of the financial services industry when it comes to the reporting process. “Whilst [this] marks the first deadline for…
Recorded Webinar: The Transformation of Buy-Side Market Surveillance
Asset managers, hedge funds, insurance firms, and other buy-side firms globally are becoming more active in their approach to market surveillance, as regulatory pressure to up their game mounts. Buy-side firms are now building out their surveillance infrastructure as they seek to respond to the requirements posed by Dodd-Frank, MiFID II and the Market Abuse…