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…But EDM Council Also Engaged in Much More Work Around Semantic Repository and Entity Data, Say Atkin and Bennett
The discussions at the last EDM Council meeting may have been dominated by debate over the feasibility of the US National Institute of Finance (NIF), but the industry group is engaged a lot of other things as well, according to Mike Atkin, its managing director. As well as the mortgage backed securities (MBS) proof of…
US Regulators Pushing for Increased Pricing Transparency Around CDSs
US regulators have this week been highlighting the need for more transparency around OTC derivatives pricing, in particular around credit default swaps (CDS), which are now moving towards being centrally cleared in the market. Speaking in New York at an International Swaps and Derivatives Association (ISDA) conference, Theo Lubke, senior vice-president at the Federal Reserve…
US SEC Finally Passes New Credit Ratings Agency Rules
Following months of speculation, the US Securities and Exchange Commission (SEC) has finally passed new regulations to tighten its supervision of the credit ratings agency sector. This corner of the market, which is dominated by the big three: Moody’s, Standard & Poor’s and Fitch, has come under heavy critical fire due to its contribution to…
Broadridge and Newriver Deliver Summary Prospectus Solutions to the Mutual Fund Industry
Broadridge Financial Solutions and NewRiver today announced a solution to the Securities and Exchange Commission’s (SEC) newly enacted summary prospectus rule that combines Broadridge’s inventory, print, fulfilment and householding capabilities with NewRiver’s patented electronic database. Broadridge is a global provider of technology-based solutions to the financial services industry. NewRiver is the creator of a central…
Regulators Continue to Raise Profile of Derivatives Data Challenge, Market Fights Back
In keeping with this year’s regulatory focus on data challenges within financial institutions, this week, US Securities and Exchange Commission (SEC) chairman Mary Schapiro has been discussing the importance of accurately tracking derivatives data. She has been stressing the critical need for regulators to gain more access to information on derivative transactions in order to…
DPC DATA MuniGUARD Addresses Bond Dealers’ Mounting MSRB and Finra Compliance Concerns
DPC DATA, a provider of municipal bond disclosure data, research and data services, today announced that its new surveillance service, MuniGUARD, is helping municipal bond dealers address mounting regulatory demands and enforcement pressures related to investor protections. Providing automated notice of the latest material event filings, which can be integrated directly into trading and compliance…
US Government Sends Final OTC Derivatives Regulations Proposals to Congress
Following the publication of its white paper on an overhaul of the OTC derivatives regulatory regime last month, the US government has finally sent its proposals to Congress, which will vote on them once it returns from its August recess. The proposals include requirements for the more vanilla end of the spectrum of these instruments…
US Senate Banking Committee Closes Last Hearing of Summer with Ratings Agencies Discussions
During the last hearing before its August recess, the US Senate Banking Committee examined the current proposals circulating within the US regulatory community concerning ratings agencies. The Committee is expected to push through legislation on the subject in the autumn but took the opportunity this week to give the ratings agencies a further ear bashing….
HSBC Poaches JPMorgan’s Data Guru Serenita for Global Entity Services Role
Long-time data services stalwart and JPMorgan veteran, Peter Serenita has finally jumped ship to take up a new role at HSBC. After 28 years of loyal service at JPMorgan, Serenita has been poached by HSBC to take on the role of managing director and global head of Entity Services for its Global Banking and Global…
CFTC Grants Eurex Clearing Approval to Clear US OTC Derivatives
The Commodity Futures Trading Commission (CFTC) has issued an order with respect to the multilateral clearing activities that Eurex Clearing intends to undertake in the United States for OTC derivative instruments. Eurex is a central counterparty licensed by the Bundesanstalt für Finanzdienstleistungaufsicht (BaFin) of the Federal Republic of Germany. In the order, the CFTC determined…