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Industry Bodies Join Forces to Create New SFTR/EMIR Master Reporting Agreement
The International Securities Lending Association (ISLA) has partnered with the Futures Industry Association (FIA), the International Capital Market Association (ICMA) and the International Swaps and Derivatives Association (ISDA) to create a new Master Reporting Agreement compatible with SFTR and EMIR. The EMIR and SFTR reporting regimes share certain key features – in particular, both provide…
Bank Hapoalim Selects Wolters Kluwer’s OneSumX Software for Measuring Counterparty Credit Risk
Leading Israeli institution Bank Hapoalim has signed up with Wolters Kluwer to manage its credit risk profile using the firm’s OneSumX solution for risk management. The bank will utilise the software for measuring counterparty credit risk as per Basel III’s Standardised approach for measuring counterparty credit risk exposures (SA-CCR), which first came into force January…
Bloomberg Acquires RegTek.Solutions
Bloomberg has acquired RegTek.Solutions, a specialist in global regulatory reporting software solutions. The firm, which provides modular software solutions built around actionable regulatory intelligence, will be integrated with Bloomberg’s Regulatory Reporting Hub (RHUB), as well as Bloomberg’s enterprise data management and trading systems. The acquisition will combine Bloomberg’s data enrichment and reporting capabilities with RegTek.Solutions’…
SmartStream RDU Readies Services for Brexit
The SmartStream Reference Data Utility (RDU) has implemented changes to its MiFID II Reference Data Service and Systematic Internaliser (SI) Registry to accommodate Brexit. For the MiFID II service, SmartStream RDU will make both ESMA and FCA data available, either as an integrated delivery or separately. It will also support ESMA and FCA pre- and…
SEC Updates Regulatory Disclosure Requirements
The US Securities and Exchange Commission (SEC) has voted to propose rule amendments to modernize the description of business, legal proceedings, and risk factor disclosures that registrants are required to make to ‘Regulation S-K’ – a US regulation that lays out reporting requirements for public companies. The proposed amendments are intended to update the rules…
Natixis Selects Redland Solutions for Accountability Solution
Natixis Investment Managers UK has chosen Redland’s SM&CR Software-as-a-Service (SaaS) solution. The solution will assist Natixis to comply with all elements of the Accountability Regime, including SM&CR, Management Responsibility Maps, Statements of Responsibility, Fitness & Propriety, Certification, Conduct Attestation and Conduct Rule Breaches. Birmingham, UK-based Redland Solutions was acquired by Ideagen in June 2019.
Volkswagen Bank Chooses BearingPoint for Regulatory Reporting
Germany’s Volkswagen Bank has confirmed a switch from an in-house regulatory reporting solution to the standard Abacus360 Banking Regulatory software package from BearingPoint. BearingPoint will provide the software and also take over the tasks and processes of the technical operation, in addition to providing infrastructure and support services within the scope of managed services. Volkswagen…
ESMA Makes New Bond Liquidity Data Available
From the 1st August the European Securities and Markets Authority (ESMA) has made available new data for bonds subject to the pre- and post-trade requirements of MiFID II and MiFIR through its data register. MiFID II, which came into force in January 2018, introduced pre- and post-trade transparency requirements for equity and non-equity instruments, including…
Regulators Discuss SM&CR and IT Failure at UK Parliamentary Hearings
The UK’s parliament’s treasury committee recently held a series of hearings on IT failures in the financial sector. Over the course of the hearings, at which representatives of the Bank of England, the Financial Conduct Authority and the Prudential Regulatory Authority spoke, the regulators discussed work completed and work in progress around operational resilience in…
FCA Publishes Final Rules on SM&CR
The UK financial services regulator has published the final rules regarding the extension of the Senior Managers and Certification Regime (SM&CR) to FCA solo-regulated firms. The changes are due to come into force on December 9, 2019 – the same deadline by which brokers have to comply with the new regulation (which was adopted by…