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CFTC’s Data Standards Subcommittee Chair Kirilenko Doles Out ‘To Do’ Lists for Each of its Four Working Groups
As well as a public meeting on the subject of swaps data repositories, last week also saw the first meeting of the Commodity Futures Trading Commission’s (CFTC) data standardisation subcommittee, which is chaired by CFTC chief economist Andrei Kirilenko. Attendees discussed the current obstacles to entity and product identification in the market, how international agreement…
New Report Calls for Banking Community to Define Regulatory Data Standards to Control Spiralling Compliance Costs
A new preliminary report launched today titled ‘Strong Foundations for Regulatory Reform?’ finds that the monetary implications for financial services firms that fail to establish a more consistent data management plan can be immense. While there is currently no public sector assessment of the cost to comply, initial research studies suggest it will be in…
LSE’s Acquisition of the UK FSA’s TRS for £15m Brings UnaVista’s Range of Functions to an Extended Client Base, Says Husler
The announcement this week that the London Stock Exchange (LSE) is in the process of acquiring the UK Financial Services Authority’s (FSA) approved reporting mechanism (ARM) is likely to be the first but not the last acquisition that the exchange operator will be making in the post-trade space this year, if CEO Xavier Rolet’s ambitions…
George Crooks of Wolters Kluwer Financial Services Comments on the Further Delay of Solvency II to 2014
“Concern over the risks associated with an extended and asymmetrical transition to Solvency II from the start of 2013 has left the European Parliament with little choice but to postpone its introduction to 2014, and this decision would have been met with differing opinion within the industry. Firms that have already taken significant steps towards…
FSA Enters Into an Agreement to Sell TRS to the London Stock Exchange
The Financial Services Authority (FSA) has entered into a conditional agreement to sell its Approved Reporting Mechanism (ARM) known as the Transaction Reporting System (TRS) to the London Stock Exchange (LSE) for £15m. The TRS is an ARM established in the UK market for the reporting of transactions in regulated instruments by firms to the…
Opinion: Risk Management Nirvana Comes Together in the Form of Real-time
By Dale Stevens, business development director for Capital Markets at SAS UK The case for real-time risk management was made clear in report published by Lepus earlier this week. The report is based on interviews with senior representatives from four global banks and two independent consultants with extensive past experience in the field of risk….
Swift’s Young on Opportunities for Industry Collaboration in the Face of Impending Regulatory Compliance Challenges
Reference Data Review speaks with speaks to Swift’s head of regulatory affairs for the securities markets Richard Young about the onslaught of regulation that the industry is facing and where the compliance challenges lie. Young discusses how the industry can respond to these challenges in a collaborative manner and provides some practical examples of this…
EIOPA Publishes XBRL Template and Taxonomy Proposals for Solvency II Quantitative Reporting
The European Insurance and Occupational Pensions Authority (EIOPA), one of the three industry focused, European level bodies that was created at the start if the year, has released its proposals for XBRL-based templates and a new taxonomy to be used when sending quantitative reports to the regulator as part of their compliance requirements under Solvency…
JPMorgan Chase Bank, N.A. Signs for FRSGlobal’s Local Regulatory Reporting Solution for Hong Kong and Singapore
FRSGlobal, part of Wolters Kluwer Financial Services, a leading worldwide provider of compliance and risk management solutions for the financial services industry, today announced that JPMorgan Chase Bank, N.A has chosen its web-enabled local regulatory reporting solution for Hong Kong and Singapore. JPMorgan Chase, N.A. selected FRSGlobal after a selection process in which many factors…
SailPoint Global Market Pulse Survey Underscores Risk of Insider Threats
A recent SailPoint Market Pulse Survey examined the current state of employee compliance with corporate policy related to private, sensitive data to help identify weak links in IT risk mitigation programs. Conducted by Harris Interactive on behalf of SailPoint, the survey of 3,484 employees in the United States, Great Britain and Australia found that an…