Editor’s pick
International Financial Tremors Test the Robustness of the EU’s Regulatory Framework
A-Team Group recently met up with EU financial services regulatory expert, David Doyle, to get his take on the turmoil in financial markets and its impact on financial institutions. In particular, we covered the likely ramifications of recent cross-Atlantic events on EU regulatory developments in Brussels and Frankfurt. In light of the collapse of a...
Top Blogs
ESMA Goes Live with Pilot of DLT Regulatory Regime
The European Securities and Markets Authority’s (ESMA’s) pilot of a Digital Ledger Technology (DLT) regulatory regime, which includes the standard Digital Token Identifier (DRI), is up and running. The pilot will operate for six years, during which regulated investment firms, market operators and central securities depositories operating DLT market infrastructure will be able to apply...
SteelEye Test of ChatGPT for Market Surveillance Yields ‘Promising’ Results
SteelEye says it’s encouraged by its recent test of ChatGPT’s applicability to market surveillance, suggesting that the AI tool can support decision-making, empower compliance teams to analyse data with greater speed, and enable them to identify potential risks more effectively. SteelEye made its assessment based on a case study it conducted that involved integration of...
A-Team Group Names Winners of Innovation Awards 2023
A-Team Group has named the winners of its prestigious Innovation Awards 2023. The awards, now in their third year, celebrate innovative projects and teams across vendor and practitioner communities that make use of new and emerging technologies to deliver high-value solutions for financial institutions in capital markets. This year’s platinum award winners include Moody’s Analytics...
Latest briefs
RepRisk Makes ESG Data Accessible from Snowflake Marketplace
RepRisk’s ESG risk data is now available on Snowflake Marketplace, giving sustainable market professionals easy access to the Swiss company’s content without having to adapt their internal processes. Through Snowflake’s platform, RepRisk says customers can be assured of data security, scalability, assessment and governance. Its data is collated from sources other than corporate self-disclosures to…
ISS ESG Provides US Cyber Risks Visibility for Sustainability Investors
ESG investors are now able to monitor companies’ cyber risks through a new service provided by ISS ESG. The ISS ESG US Cyber Risk Index offers clients visibility into which corporates face the highest risk of digital intrusion based on their cyber security provisions. ISS ESG, the sustainable investment unit of Institutional Shareholder Services, said…
European Parliament Adopts CSRD
The European Union’s parliament has endorsed the creation of the Corporate Sustainability Reporting Directive (CSRD), the regulation that’s intended to oblige larger non-financial companies to disclose their ESG performance. The parliament overwhelmingly approved the formation of the framework, which is to be implemented by the end of next year.
Financial Institutions Spend $1,500 to $3,000 to Complete One Client KYC Review
Financial institutions are spending millions of dollars every year inefficiently onboarding and maintaining clients, according to research from Fenergo, a provider of Know Your Customer (KYC) and Client Lifecycle Management (CLM) software solutions. A global study of over 1,000 C-level executives across corporate and institutional banks found that, on average, over half are spending between…
Many Firms Are Not Data-Ready for SFDR Level 2
Many financial institutions have yet to grasp the data implications of the European Union’s ESG reporting regulations, while others are scrambling to put in place processes to comply with the developing set of disclosure rules. Read the full story on ESG Insight here.
Many Firms Are Not Data-Ready for SFDR Level 2
Many financial institutions have yet to grasp the data implications of the European Union’s ESG reporting regulations, while others are scrambling to put in place processes to comply with the developing set of disclosure rules. Read the full story on ESG Insight here.
RiskBusiness Acquires Gold Operational Loss Database
RiskBusiness Services has acquired the Global Operational Loss Database (Gold) from partner UK Finance, the former British Bankers Association (BBA). RiskBusiness, a UK-based provider of SaaS-based compliance solutions, plans to offer the Gold database to allow firms to benchmark and measure their exposures to operational risk. Mike Finlay, CEO and Chief Product Architect, RiskBusiness, says:…
Euroclear to Use Taskize for CSDR Penalty Appeals
Euroclear is expanding its use of Taskize’s collaboration tools as the preferred channel for its 2,000+ members to appeal penalties at both the International Central Securities Depository (ICSD) and its domestic CSDs, under the upcoming CSDR Settlement Discipline Regime. Using a Taskize Bubble that has been specifically built around a penalty appeal template, Euroclear members…
Trade Surveillance Hindered by Fragmented Systems, VoxSmart Study Finds
Almost 70% of financial institutions believe that fragmentation of their approach due to siloed surveillance systems increases the risk of market abuse, according to a VoxSmart survey of almost 80 investment banks, brokers, and investment managers. The findings come as the potential for market abuse continues to accelerate globally as financial institutions continue to adjust…
BNP Paribas Adds IHS Markit as Calculator for Uncleared Margin Rules
BNP Paribas Securities Services has added IHS Markit as an initial margin calculation source to its existing service for clients that are in-scope for Uncleared Margin Rules (UMR) in derivatives markets. The expanded collaboration complements the valuations services that IHS Markit has provided BNP Paribas Securities Services since 2012. BNP Paribas offers a full end-to-end solution for Regulatory Initial…
BidFX Links to Osttra for FX Clearing Under UMR Phase 6
BidFX, a provider of cloud-based foreign exchange trading solutions, has integrated Osttra’s clearing connectivity service, allowing investment managers to submit trades directly to leading CCPs. The development, which gives BidFX clients wishing to clear trades access to an established community of more than 30 executing bank clearing counterparties, is aimed at helping investment managers who choose…
SteelEye Gains SOC 2 Certification
Compliance and data analytics provider SteelEye has secured System and Organisation Controls (SOC) 2 certification. Defined by the American Institute of CPAs (AICPA), and covering the principles of Security, Availability, Confidentiality, Processing Integrity and Privacy, SOC 2 assesses firms’ safeguarding of customer data. The accreditation underpins SteelEye’s efforts to ensure robust data security.
Numis Extends Use of Torstone Platform for CSDR Compliance
UK investment bank Numis has extended its use of Torstone Technology’s Torstone Post Trade platform to manage its obligations under the Central Securities Depositories Regulation (CSDR). The Torstone Post Trade platform is a multi-asset, multi-entity cloud-based SaaS solution, covering electronic trade capture, allocation, confirmation, settlement, accounting, risk, corporate actions, reconciliation and regulatory reporting. Tim Valmas,…
PKO Bank Polski Selects SS&C FRTB Solution
PKO Bank Polski has implemented SS&C’s Fundamental Review of the Trading Book (FRTB) standardised approach solution. As part of an update of its risk management framework, the bank will use SS&C’s FRTB solution to calculate risk sensitivities and provide FRTB-specific calculations and workflows, extensive model coverage, high performance, scalability and extensibility through APIs. The bank…
Finastra Adds €STR, TONAR and SORA Rates to Fusion LIBOR Transition Calculator
Finastra has introduced additional Alternative Reference Rates (ARR) and Risk-Free Rates (RFRs) to its Fusion LIBOR Transition Calculator. The move enables banks, corporates and borrowers to calculate ARR in preparation for the end of the majority of LIBOR rates on December 31, 2021. In addition to SOFR for the US dollar and SONIA for pounds…
Latest people
SmartSearch Appoints Former Dow Jones Executive as CEO
SmartSearch, an anti-money laundering specialist using electronic entity verification, has named Guy Harrison as CEO with responsibility to drive the company’s strategic growth plan. Harrison joins from Dow Jones, where he was general manager of the company’s risk and compliance business. He takes over the CEO role from SmartSearch CEO and founder John Dobson, who…
Kay Swinburne Named as Chair of the International Regulatory Strategy Group
Dr Kay Swinburne, vice chair of financial services at KPMG UK and former vice chair of the European Parliament’s Economics and Monetary Affairs Committee, has been named chair of the International Regulatory Strategy Group (IRSG). The role was previously held by former city minister Mark Hoban. The IRSG is focused on promoting regulation that encourages…
Léo Apotheker Joins Appway
Appway, a specialist in technology for workflow automation in financial services, has appointed Léo Apotheker as the first independent member of its board of directors. Apotheker was formerly CEO of German software giant SAP, and is also former CEO and President of Hewlett-Packard. He currently sits on the boards of a number of other leading…
Kavitha Venkita Joins ACA Compliance to Lead Cybersecurity
Kavitha Venkita has been appointed to lead ACA Aponix, the dedicated global cybersecurity and technology risk advisory team at ACA Compliance Group. Kavitha will oversee all aspects of the business, including cybersecurity advisory, cyber and technology risk diligence for financial sponsors and corporates, and vendor management. She has over 20 years of experience in launching,…
RIMES Appoints Former Nasdaq CIO Anna Ewing to Board
RIMES has appointed former Nasdaq CIO, Anna Ewing, to its board of directors as a non-executive director. Ewing will bring her expertise in Financial Services technology solutions to help RIMES further expand its Managed Data Services and build out its product roadmap for its proprietary and scalable technology and platform.During her career, Anna has established…
SmartSearch Appoints Martin Tuvey as Development Director
UK-based anti-money laundering (AML) firm SmartSearch has bolstered its global growth ambitions with the appointment of international development director Martin Tuvey to oversee its expansion into US and European markets. The role was created as part of the firm’s global business growth strategy. Tuvey brings with him insight into the US market having previously developed…
Arctic Intelligence Promotes Darren Cade to CEO
Australian RegTech firm Arctic Intelligence has promoted its longstanding COO, Darren Cade, to CEO; taking over from Artic Founder Anthony Quinn. Cade has an extensive risk management background including over 20 years in risk and operational leadership roles at Macquarie Bank, Deloitte and EY. He will focus on driving growth in key markets and industry sectors…
Gresham Technologies Continues APAC Expansion with Strategic Hire
Gresham Technologies Plc (Gresham) has appointed Joel Jerome as Director of Sales, APAC to grow the firm’s regional footprint. Globally, heightened market volatility, digital transformation and increased regulatory scrutiny are demanding better reconciliation and reporting of all data types. Jerome’s appointment in Singapore is an extension of Gresham’s commitment to meeting these challenges for existing…
Gresham Technologies Appoints New Board Members
Gresham Technologies has appointed Jenny Knott and Dr. Ruth Wandhöfer as Non-Executive Directors. The appointments follow the recent news of a Clareti Annualised Recurring Revenue (ARR) increase of 18% to £10.7 million and a significant new Tier 1 bank win during H1 2020. Knott is the co-founder of FinTech Strategic Advisors, and has previously held…
Gresham Technologies Pushes International Growth with Senior European Hire
Gresham Technologies plc (Gresham), has appointed Vincent Him as Sales Director, Europe to grow the firm’s global footprint. Previously holding Senior Sales positions at SmartStream and Duco, Him brings almost 25 years’ experience across the post-trade reconciliations industry to the role. He will be responsible for driving growth across Europe, and for growing existing customer partnerships…
ACA Compliance Group Hires Ron Weekes as Mirabella CEO
ACA Compliance Group (ACA), a provider of governance, risk, and compliance advisory services and technology solutions, has appointed Ron Weekes as CEO of Mirabella, the firm’s regulatory hosting platform. He replaces Mirabella founder and CEO Joe Vittoria, who will assist in the transition over the coming months. Weekes has been a Partner and the European…
Wolters Kluwer FRR Hires VP of Sales and Business Development for China
Wolters Kluwer’s Finance, Risk & Regulatory Reporting (FRR) business has hired Benjamin Jing as Vice President of Sales and Business Development for its operations in China. Jing previously worked for Vanda Group (part of PCCW Solutions), as Assistant Vice President in charge of more than 100 staff in its Financial Services unit. He has also…
SteelEye Names Rob Friend as COO
SteelEye, the holistic compliance technology and data analytics firm, has appointed Rob Friend as Chief Operating Officer, effective immediately. As the company plans for expansion into North America and Asia Pacific, and a Series-B fundraise to support further growth, Friend joins to scale SteelEye’s operations. Prior to joining SteelEye, he spent 12 years at Bloomberg,…
Delta Capita Appoints Head of Regulatory Change
Managed services firm Delta Capital has hired Karan Kapoor as its new Head of Regulatory Change and Technology. Kapoor has over a decade of experience in bank regulation-driven business and technology change management, spanning CSDR, Dodd Frank, MIFID II, Basel III and EMIR. Most recently he managed the CSDR initiative at a global investment bank where…
CubeLogic Makes Two Executive Hires
CubeLogic, a provider of enterprise risk management solutions for the energy, commodities, and financial services industries, has hired David Baker as Group Chief Technology Officer and John Harris as Chief Operations Officer for the Americas region. These are both new roles which have been instated due to growing client demand and rapid business expansion. Baker…
Featured
FEATURED WEBINAR
Upcoming Webinar: FRTB Implementation in APAC: An industry update and what is left to do
Date: 25 May 2023 Time: 9:00am London / 4:00pm Singapore Duration: 50 minutes Fundamental Review of the Trading Book (FRTB) regulation, a set of proposals from the Basel Committee on Banking Supervision (BCBS) for a new market risk-related capital requirement for banks, is due to be implemented across APAC over the next few years. Singapore…
FEATURED EVENT
ESG Data & Tech Briefing APAC
Join us in one of the greenest cities in the world as we bring together thought leading ESG specialists to explore how financial institutions are adapting to the evolving ESG regulatory and market infrastructure.
FEATURED GUIDE
Regulatory Data Handbook 2022/2023 – Tenth Edition
Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging…
Top White Papers
Getting Control of Access to Key Market Services
Use of single dealer portals that allow banks to trade assets on behalf of their clients is growing rapidly, particularly among firms in the fixed income and foreign exchange markets in particular. But while trading portals offer great benefits in terms of broader market reach and enhanced client functionality, they bring risks too. Firms are...
Best Practice Approaches to Cross-Product Market Surveillance
As perpetrators of financial crime become more sophisticated, regulators worldwide are focusing more of their efforts on cross-product and cross-market manipulation, as evidenced by a growing number of high-profile prosecutions. Led by the UK’s FSA and the EU’s ESMA, regulators in key global markets are targeting sophisticated operators, whose cross-product activities typically involve are able...
Next-Generation Network and Vendor Management: mitigating operational risk in relationship networks
The complex network of relationships that financial institutions have built with multiple partners has created a huge operational burden, resulting in significant operational risk as well as financial and compliance risk. Dating back decades, many of these relationships are now managed as a separate business function, costing organisations millions of dollars. Add in regulatory obligations,...
Events and webinars
Recorded Webinar: Preparing For Primetime – How to Benefit from the Global LEI
This webinar has passed, but you can view the recording here. Much has been made of the initiative to create a global standard legal entity identifier (LEI). Its backers have taken great pains to explain how the new identifier will improve transparency and contribute to the ongoing regulatory war against systemic risk. After months of...
Recorded Webinar: Practical Applications of the Global LEI – Client On-Boarding and Beyond
This webinar has passed, but you can view the recording here. With the March ‘launch’ of the global legal entity identifier (LEI), the marketplace now officially has a standard it can use for managing entity data. Post-Credit Crunch, the lack of such a standard has forced firms to embark on their own initiatives to create...
Recorded Webinar: FATCA – The time to act is now
This webinar has passed, but you can view the recording here. The US Foreign Account Tax Compliance Act – aka FATCA – raised eyebrows when its final regulations requiring foreign financial institutions (FFIs) to report US accounts to US tax authorities were published last year, but with the exception of a few modifications the legislation...
Awards
RegTech Insight Awards APAC
Meet the winners in the 2nd annual RegTech Insight Awards APAC 2022! These awards celebrate providers of leading RegTech solutions, services and consultancy. These awards are uniquely designed to recognise both start-up and established providers who are creatively finding solutions to help with regulatory challenges, and span a wide range of regulatory requirements.
