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MiFIR Data in a No-Deal Brexit World – Learn More at the DMI Summit 2019
The impact of a no-deal Brexit on data requirements under MiFIR is becoming clearer – and the implications are serious. While the L1 and L2 level MiFIR regulations will remain largely unchanged, the MiFIR data reporting landscape across the EU after a no-deal Brexit will change significantly in operational terms. Mateusz Hojda of the Business Reporting –…
Investors Bank Selects Wolters Kluwer’s OneSumX for Regulatory Reporting
Investors Bank, a New Jersey institution with 151 branches and around $25 billion in assets, has chosen Wolters Kluwer’s OneSumX solution for regulatory reporting. OneSumX for Regulatory Reporting is set up to use a single source of data to ensure consistency, reconciliation and accuracy and includes Wolters Kluwer’s Regulatory Update Service, which actively monitors regulation…
Central Bancompany Chooses Wolters Kluwer for Change Management
Missouri’s Central Bancompany has chosen to implement Wolters Kluwer’s regulatory change management solution across its 13 affiliate banks. OneSumX for Regulatory Change Management tracks regulatory changes and maps them to specific lines of business, providing enhanced risk and controls assessment. Central Bancompany also uses Wolters Kluwers’ OneSumX Risk and Controls Assessment to manage its enterprise…
GoldenSource Releases New Datasets to Help Banks with Brexit Reporting Changes
Software and services provider GoldenSource last week announced the release of a series of new Brexit-specific datasets via its enterprise data management solution, to help banks prepare for differing regulatory demands in the wake of the UK’s expected departure from the EU on the 29th March 2019. The firm implemented the move in response to…
Data Breaches Up 480% in 2018, but is GDPR Compliance the Answer?
The number of data breaches reported by UK financial services firms to the Financial Conduct Authority (FCA) increased by 480% in 2018, up to 145 up from just 25 in 2017. Is this solely down to the new GDPR regime, or are there a wider problems at play – and how can firms leverage new…
Senior Managers & Certification Regime: Six Major Challenges for Financial Firms
The FCA’s Senior Managers and Certification Regime (SM&CR) is topping the list of regulatory challenges for financial institutions in 2019, with the December 9 deadline throwing up new challenges and concerns around the way firms must handle their duties, process their data and implement internal procedures. Martin Lovick, Senior Principal Consultant at governance, risk and…
Gresham Partners with RegTek Solutions for Strategic Transaction Reporting
Data integrity and control software provider Gresham Technologies has joined forces with regulatory reporting specialist RegTek Solutions in a strategic relationship linking RegTek’s Reconcile.Trade solution with Gresham’s Clareti Platform to offer increased transparency and control over transaction reporting requirements. The Reconcile.Trade platform allows clients to reconcile front-office trading records against data samples provided by competent…
Industry Players React to FCA Concerns Around MiFID II and PRIIPs Disclosure Requirements
The Financial Conduct Authority (FCA) last week published key findings from a supervisory project to assess the effectiveness of disclosure by asset managers and intermediaries on the back of MiFID II and PRIIPs reforms – warning against non-compliance for asset managers failing to disclose all associated costs and charges. However, the findings have provoked strong…
FCA Chief Predicts Cost Savings of up to £1bn from MiFID II Research Unbundling
In his keynote speech on MiFID II at the European Independent Research Providers Association on February 25, UK Financial Conduct Authority (FCA) CEO Andrew Bailey praised the impact of the MiFID II research reforms, but stressed that independent research providers could not force asset managers to acquire their services, and warned that the FCA does…
Solidatus Opens New Singapore Office
Data lineage solutions provider Solidatus has opened a new office in Singapore to service the Asia-Pacific market. The expansion follows two successful trade missions to Asia with the UK Department of Trade in 2018: the Hong Kong FinTech Week 2018 and the Singapore FinTech Festival 2018. “The decision to expand our presence in APAC was…