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SM&CR: The Countdown Begins
This weekend marks just one month to go until SM&CR goes live for all solo-regulated firms, replacing the FCA’s previous Approved Persons Regime (APR) and bringing with it a host of new data management requirements and challenges. A survey published by ACA Compliance in August this year warned that less 2% of firms had completed…
EU Benchmarks Regulation: An Opportunity in Disguise?
The switch from Libor to new benchmarks under the EU’s Benchmarks Regulation has been heralded as one of the most significant changes to the financial markets in recent years. With wide-ranging implications for multiple functions across financial institutions, the reform poses substantial compliance challenges – but could also create new opportunities, specifically around the necessary…
Clausematch Partners with Aberdeen Standard for Compliance Solution
Clausematch, a software-as-a-service provider for smart document management, has teamed up with Aberdeen Standard Investments (ASI) in Singapore to develop a buy-side solution for the asset management industry under a Digital Accelerator Program run by the Investment Management Association of Singapore (IMAS). The AI and machine-learning-enabled platform developed by Clausematch enabled ASI to test a…
Blockchain in the Fund management and Audit Industries: Could it Restore Trust?
By Nish Kotecha, Chairman and Co-founder of Finboot, and Bryan Foss, Independent Director and Visiting Professor at Bristol Business School. Not too long ago, Neil Woodford was still regularly heralded as a “superstar” manager and the “Oracle of Oxford”. How different the story is today. In mid-October, Neil Woodford announced that his Woodford Investment Management…
Bank of England: Machine Learning set to Double in Financial Services
The Bank of England and the Financial Conduct Authority (FCA) have published a new report on ‘Machine Learning in UK Financial Services’ that predicts live machine learning (ML) applications will more than double within the next three years. The report is the result of a joint 2019 survey between the two regulators covering over 300…
Trade and Transaction Reporting Challenges – EU Demands for US Firms
At the upcoming RegTech Summit New York, William Gates of SmartStream RDU will be enlightening us as to the current challenges around MiFID II and MiFIR for US-based firms; as well as giving a rundown of where we are (as far as anyone can really know!) with Brexit, and what the implications could be for…
SmartStream Launches New Artificial Intelligence Module
Transaction Lifecycle Manager solutions provider SmartStream Technologies has completed the proof of concept for its new artificial intelligence (AI) and machine learning module, to operate within its existing TLM Cash and Liquidity Management solution for receipts and payments and assist businesses with liquidity risk management and regulatory reporting. Hitherto, the firm has focused on developing…
US Regulators Join Global Financial Innovation Network
The Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC) have confirmed their membership of the Global Financial Innovation Network (GFIN). They join 46 other financial authorities, central banks, and other international organisations with the goal of fostering greater…
Glue42 Partners with RocketFin on Behaviour Mining for Regulatory Requirements
Desktop solutions provider Glue42 has formed an implementation partnership with RocketFin Consulting to help the former extend its capabilities from classic interop into the world of business analytics, insight and process optimization in the field of regulatory compliance, particularly around MiFID II and CAT. Joint customers can expect improved support for common financial procedures and…
Standard Charted Bank Launches Bearing Point Tax Solution
BearingPoint RegTech has confirmed that Standard Chartered Bank has successfully deployed the tax reporting solution FiTAX to fulfill its global reporting obligations. These include CRS (Common Reporting Standard), FATCA (Foreign Account Tax Compliance Act) and QI (Qualified Intermediaries) reporting.