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A-Team Group Webinar Offers Insight into the Data Management Challenges of FATCA
The Foreign Account Tax Compliance Act (FATCA) comes into effect on 1 July 2014 and presents, perhaps, the most challenging data management issues that financial institutions will face this year. The volume of data is one problem, the complexity of requirements is another, and the whole is not helped by recent changes to FATCA rules…
Swift Adds Compliance Analytics Tool for Network Traffic Data
Swift has extended its Compliance Services portfolio with the addition of Compliance Analytics, a business intelligence tool that aggregates Swift network data to help banks visualise their global transaction flows and identify any unexpected activities. Swift touched on the analytics tool back in January when it discussed its intention to build a portfolio of compliance…
Tackling the Data Management Challenges of FATCA
As the July 1, 2014 deadline for compliance with the Foreign Account Tax Compliance Act – or FATCA – approaches, financial institutions around the world are working to ensure their data management and operational systems will meet the requirements of the US legislation. This report discusses the requirements of FATCA and how the legislation is…
Morningstar Augments Solvency II Solutions with UBS Delta’s Capital Requirement Calculations
Morningstar UK has extended its range of Solvency II solutions for asset managers through a partnership with UBS Delta that adds fund level Solvency Capital Requirement (SCR) calculations to the company’s fund portfolio holdings data and Solvency II classifications. Morningstar has included fund portfolio holdings data for many years and Solvency II classification data since…
IRS Delays Registration Deadline for Fatca and Clarifies Status of Foreign Financial Institutions
The US Internal Revenue Service (IRS) has pushed back the registration deadline for foreign financial institutions (FFIs) subject to the Foreign Account Tax Compliance Act (Fatca) by 10 days. It has also given jurisdictions that are close to signing Intergovernmental Agreements (IGAs) on Fatca the same status for the remainder of this year as those…
Opinion: A Smarter Approach to the New Austrian Reporting Requirements
By Lauren Dearmer, Product Marketing Manager, Wolters Kluwer Financial Over the last couple of years Austria’s Central Bank, the Oesterreichische Nationalbank (OeNB), has been working with the financial services industry to radically restructure the way in which financial data is reported. The project was initiated to ‘improve the data quality, specifically methodological soundness and data…
Opinion: Regulators Blink on Derivatives Reform – Industry Leadership Required
By Allan D. Grody While the complications of Obama Care reform in the US has reached all Americans directly, the complications of the implementation of the swaps risk regime are similarly ‘problematic.’ But they are not yet well enough understood to touch the lives of everyday people, although indirectly they will impact everyone through higher…
Misys Builds on Existing Technologies to Deliver EMIR Reporting Service
Misys has responded to customer demand for help with trade reporting under European Market Infrastructure Regulation (EMIR) with Regulatory Reporting Service, a stand alone software-as-a-service (SaaS) solution, and an extension to its Confirmation Matching Service (CMS). The company had previous experience of Dodd-Frank and EMIR reporting with its Opics banking product that is usually used…
Talking Reference Data with Andrew Delaney: If Only…
I frequently find myself in meetings, on calls, at conferences, listening to people talk about the data and data management impact of regulation. I’ve heard it said many times, by suppliers mostly, that regulation is our friend. And it’s probably fair to say that without regulation, our industry would not be moving at quite the…
Opinion: The Pricing & Reference Data Community – Helping You Tackle Regulatory Challenges
By Marion Leslie, Managing Director, Pricing & Reference Services, Thomson Reuters The current barrage of regulatory reforms sweeping the global financial services industry poses an enormous challenge for all sectors. These changes are impacting banks, broker/dealers, insurance companies, institutional asset managers, hedge funds and their asset servicers such as fund administrators, custodians and prime brokers…