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Wolters Kluwer Pushes Forward AI Agenda With New Proof of Concept
In the latest step forward in the field of AI-driven regulatory reporting, Wolters Kluwer has completed a successful Proof of Concept (PoC) showing that a machine can learn how to take over any end-to-end regulatory reporting process for financial institutions and regulators, across every jurisdiction, by using historical source data and its corresponding regulatory submissions….
Entity Data Management Handbook – Sixth Edition
High-profile and punitive penalties handed out to large financial institutions for non-compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations have catapulted entity data management up the business agenda. So, too, have industry and government reports on the staggering sums of money laundered on a global basis. Less apparent, but equally important, are…
AFME Publishes Recommendations to Improve CSDR Settlement Rates
The Association for Financial Markets in Europe (AFME) has published recommendations for partial settlement in view of the impending Central Securities Depository Regulation (CSDR), currently due to come into force in September this year but widely expected to be delayed until February 2021. The recommendations aim to encourage greater and more harmonised use of partial…
TRAction Rolls Out New Regulatory Reporting Solution
Regulatory reporting specialist TRAction has launched a new MiFID II reporting solution utilising Refinitiv data to help UK and European investment managers meet Best Execution requirements. With around a fifth of all investment firms in talks with the FCA about errors in their transaction reporting under MiFID II, according to an FOI request carried about…
Libor Transition: Have You Thought About FRTB Yet?
It comes as no surprise that the ongoing Libor transition is posing and will continue to pose massive data management challenges for banks and affected financial institutions – many of which we have already covered in detail in these pages. But one factor that might perhaps have been overlooked is the impact of the LIBOR…
Recorded Webinar: Last minute preparations for SFTR: What still needs to be done and are we ready?
The regulation clock is ticking. Financial firms, especially those subject to Phase I of implementation, are well aware of the impending April 2020 deadline for the Securities Financing Transactions Regulation. The question is, are they ready? Tactical, i.e painful, approaches to compliance won’t be good enough. A strategic plan of attack is necessary to combat…
Broadridge Acquires FundsLibrary in European Data Push
Broadridge Financial Solutions has completed its acquisition of European fund data specialist FundsLibrary in a bid to boost its pan-European regulatory communications and digital data platform, which supports the lifecycle of fund data, documents, and regulatory reporting for the investment industry. FundsLibrary’s solutions enable fund managers to increase distribution opportunities and help them comply with…
PRA Appoints PwC to Investigate Goldman Sachs’ Regulatory Reporting
The UK’s Prudential Regulation Authority (PRA) is believed to have appointed PwC to undertake a “skilled person’s report” on Goldman Sachs to scrutinise the quality of its regulatory reporting out of its London offices. The move comes in response to concerns around its lack of oversight, and the quality of information being supplied to the…
Last Minute Preparations for SFTR: Are You Ready Yet?
The clock is ticking, and the initial SFTR deadline is barely a month away – but with delays, regulatory opacity and widespread industry concerns around the data challenges posed by such a substantial change, is an April implementation even achievable? Tactical approaches to compliance won’t be good enough. A strategic plan of attack is necessary…
Industry Testing Will Determine Success of SFTR Compliance
By Val Wotton, Managing Director, Product Development & Strategy, RDS at DTCC. When English art historian John Ruskin wrote, “Quality is never an accident; it is always the result of intelligent effort,” he was writing about Venetian architecture, rather than financial regulation. However, Ruskin’s endorsement of forethought and preparation are applicable to the preparations necessary…