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Outsourcing Reference Data Management
The past 12 months has seen the emergence of new players offering Business Process Outsourcing (BPO) services for Reference Data Management. These new arrivals expand the range of options available to financial institutions for addressing the challenges of regulatory compliance, operational cost reduction and scalability. But BPO has other benefits, and innovative adopters have benefited…
Opinion: Will Banks Meet The Regulatory Challenge?
By Stuart Grant, EMEA Business Development Manager – Financial ServicesSAP If we examine today’s regulatory landscape across Europe, the Middle East and Africa (EMEA), we see a minefield of complexity and requirements that financial organisations must meet. In the UK specifically, with Basel III and papers such as The Basel Committee on Banking Supervision’s (BCBS)…
Bloomberg PolarLake Brings Managed Service for EDM to Market
Bloomberg PolarLake has rolled out the enterprise data management (EDM) managed service it proposed after its May 2012 acquisition by Bloomberg. The service will initially support security master and pricing data processing with more options to come later this year. Swedbank is its first user and SIX Financial Information its first data provider. PolarLake did…
Talking Reference Data with Andrew Delaney: Just How Fat is Fatca?
With the final regulations for the Foreign Account Tax Compliance Act (Fatca) now published by the US Treasury Department and Internal Revenue Service (IRS), financial institutions have no more excuses for failing to get their houses in order to be compliant with the act. They certainly aren’t happy with the additional regulatory burden of Fatca,…
LEI Regulatory Oversight Committee Names Leadership and Reprieves PSPG
The formation of a global legal entity identifier (LEI) system took a large step forward late last week when the first meeting of the Regulatory Oversight Committee (ROC) took place in Toronto, taking over leadership and direction of the LEI initiative from the Financial Stability Board (FSB) and naming its leadership team. The meeting was…
Wolters Kluwer Integrates Acquisitions to Deliver Single Platform Risk and Compliance Solutions
Wolters Kluwer Financial Services’ decision to abandon the brand names of FRSGlobal, which it acquired in September 2010, and FinArch, which it acquired in July 2012, marks a major step forward in the company’s work to integrate the acquisitions’ products to form a combined offering driven by a single business oriented data architecture. The product…
Markit and CTI Tackle Fatca Compliance with Service Bureau
Markit and Compliance Technologies International (CTI) have teamed up to target the Foreign Account Tax Compliance Act (Fatca) compliance market, but unlike most vendors the companies propose a Fatca service bureau rather than a deployed or hosted solution. Their aim is to serve fund types and sizes that typically outsource IT and do not have…
Thomson Reuters Joins Fatca Fray with Modular Compliance Solution
Thomson Reuters has joined the growing group of vendors providing compliance solutions for the US Foreign Account Tax Compliance Act (Fatca) that came into effect on January 1. Its offer is a modular, yet holistic, solution that can flex in response to elements of the legislation that are still to be determined or may change…
Gjensidige Selects Moody’s Analytics’ RiskIntegrity Solvency II Solution
Norwegian insurance company Gjensidige is working with Moody’s Analytics’ RiskIntegrity Solvency II solution to improve risk management and support compliance with the forthcoming regulation. The company chose RiskIntegrity on the strength of its out-of-the-box regulatory capabilities and ease of use. Thomas Bichard-Breaud, leader of Gjensidige’s Solvency II reporting, explains: “Moody’s Analytics offered us the best…
Talking Reference Data with Andrew Delaney: LEI Progress Report 4
In a fourth progress note on the development of a global legal entity identifier (LEI) system, the Financial Stability Board (FSB) has named Switzerland as the likely home of the global LEI foundation that will operate the LEI system’s Central Operating Unit (COU). It also set out the preliminary criteria for the selection of a…