Editor’s pick
LIBOR Change Requirements Mean Major Data Challenges for Financial Firms – Are You Ready?
With the London Interbank Offered Rate (LIBOR) ceasing to exist at midnight January 1, 2021, financial services firms around the world are faced with an enormous data management challenge. LIBOR, and the interest rate curves built off of it, are used within a wide variety of financial instruments and products, including derivatives, loans, and bonds....
Top Blogs
Focus on Resiliency on the Rise as Cyber Threats Grow
By Jason Harrell, Executive Director, Technology Risk Management & Head of Business and Government Cybersecurity Partnerships at DTCC. Resiliency has rapidly moved up industry and regulatory agendas as the threat of material disruption within the financial services sector (“sector”), including the continued growth of cyber threats, has moved from unlikely to inevitable. Resiliency is the...
LIBOR Change Requirements Mean Major Data Challenges for Financial Firms – Are You Ready?
With the London Interbank Offered Rate (LIBOR) ceasing to exist at midnight January 1, 2021, financial services firms around the world are faced with an enormous data management challenge. LIBOR, and the interest rate curves built off of it, are used within a wide variety of financial instruments and products, including derivatives, loans, and bonds....
Global AML Fines Quadruple in 2019, Could Break Records
New analysis from KYC solutions provider Encompass Corporation has found that a total of $8.07 billion of anti-money laundering (AML) fines were imposed globally between January 1 to August 31 this year – approximately 4.3 times higher than the $1.87 billion handed out over the same period in 2018. Over the four months May to...
Latest briefs
Luxoft Forms Strategic Alliance with Fenergo
Luxoft, a DXC Technology company, has become a Global Platinum Member of client lifecycle management (CLM) specialist Fenergo’s partner ecosystem. Luxoft will offer Fenergo’s client community members professional consulting services to enable the rapid systems integration and deployment of Fenergo’s platform and suite of digital capabilities. The Fenergo ecosystem currently consists of 300 global organisations,…
Compliance.ai Launches Premium Content
Compliance.ai has launched Premium Content, a new offering to help compliance professionals keep up with banking and financial regulations. The service provides users with access to contextualized regulatory subscription content including legal interpretations of regulations, publications from law firms, compliance manuals, guidance from content publishers and industry experts, online compliance training as well as subscription…
AkinovA Deploys Trading Platform on OpenFin
AkinovA, an electronic marketplace for the transfer and trading of re/insurance risk, has selected OpenFin for the deployment of its trading platform. The integration with OpenFin allows users to access the AkinovA marketplace with an easy-to-use interface that looks and feels like a native app experience while enabling instant deployment and upgrades. AkinovA is the…
FRTB Impact a Triple Threat, Finds ISDA
Final market risk capital rules will lead to a higher increase in bank capital requirements than previous estimates given by international regulators earlier this year, an undisclosed industry study has found, as reported by Risk.net – leading to concerns that the capital hike could force firms to scale back trading activities to meet the new…
New Money Laundering Division for FinCEN
The US-based Financial Crimes Enforcement Network (FinCEN) has launched its Global Investigations Division (GID), which will be responsible for implementing targeted investigation strategies rooted in FinCEN’s unique authorities under the Bank Secrecy Act (BSA) to combat illicit finance threats and related crimes, both domestically and internationally. Matthew Stiglitz, a former Principal Deputy Chief in the…
Australian and Singaporean Benchmarks Achieve EU Equivalence
From August 19, 2019 the legal and supervisory frameworks of Australia and of Singapore are held as equivalent to the EU benchmark regime, according to recent decisions published in the Official Journal of the European Union. The decisions are applicable to the administrators of financial benchmarks that are declared significant benchmarks by the Australian Securities…
STOXX Registers as BMR Administrator
STOXX, the operator of Deutsche Boerse Group, has registered with ESMA as a benchmark administrator under the European Union’s Benchmark Regulation (BMR). The regulation was introduced by the EU following the high profile LIBOR manipulation scandals of 2012, and came into force in January 2018. Benchmark rate users have until January 1, 2020 to use…
Axioma Enhances Canada Equity Risk Model
Axioma, a provider of enterprise risk management, portfolio management and regulatory reporting solutions, has added a new Canada equity risk model (AXCA4) to its next-generation Equity Factor Risk Model suite. The release builds on existing risk models, offering enhanced country-specific content to meet the risk-management needs of investors. The estimation universe for the Canada model…
Sensiple Partners TNS to Bring MiFID II Compliance Solution to Frankfurt
Capital markets specialist Sensiple is bringing its regtech product SETREGA for MiFID II, SFTR and EMIR compliance and reporting to the FR2 data centre in Frankfurt as part of an agreement with Transaction Network Services (TNS). Sensiple will use TNS’s managed hosting, colocation and connectivity service to give market participants fast, secure and efficient access…
US Congress Approves Major Study into MiFID II Research
The US House of Representatives has passed a bipartisan bill requiring the Securities and Exchange Commission (SEC) to study the provision of investment research for small issuers. It will require the SEC to explore a broad range of issues including among others the demand for research by institutional and retail investors; the availability of research;…
Melissa Launches Mobile KYC App
Identity verification specialist Melissa has launched Melissa KYC, a mobile-based unified compliance toolset providing end-to-end identity verification including ID card and document authentication, biometrics, and liveness confirmation. The app claims to capture identity documentation in under three minutes using facial recognition technology, while its verification feature uses real-time, multi-sourced data to authenticate each submission.
Global RegTech Market Growing at 52%
The global RegTech market is expected to reach $55.28 billion by 2025, expanding at a CAGR of 52.8% over the period, according to new data from Grand View Research. According to the research, the risk and compliance management segment generated the highest revenue in 2018, anticipated to expand at a CAGR of 49.7% over the…
RegTech Funding in India Quintuples
According to data provided by research and intelligence firm Tracxn, private investments into the Indian RegTech space have increased by over five times so far in 2019 to reach an estimated $43.5 million, compared to $7.26 million in 2018. Notable RegTech start-ups to receive funding include Simility, CrediWatch, Digio, Fintellix, DotAI, NextKYC, Credible Ninja and…
kompany Wins Successful Funding Round
Austrian banking group Raffeisen Bank International (RBI) via its corporate venture capital unit Elevator Ventures has joined UNIQA Ventures to invest in business verification and KYC provider kompany, while previous investors, including the European Super Angels Club (ESAC), have increased their stakes. kompany is an alumnus of the Elevator Lab Program and became a group…
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’…
Latest people
Carlo di Florio Joins ACA Compliance Group
Carlo di Florio has joined ACA Compliance as Global Chief Services Officer. He joins from FINRA, where he served as Chief Risk & Strategy Officer and as Co-Chair of the FINRA360 Project Management Office. Prior to joining FINRA, di Florio served as Director of the SEC’s Office of Compliance Inspections and Examinations, where he oversaw…
TP ICAP Hires Head of Compliance
Intermediary giant TP ICAP has appointed senior US regulator Amir Zaidi as its new global head of compliance. Zaidi previously spent nine years with the US Commodities Futures Trading Commission (CTFC), which regulates the US derivatives market – most recently as Director, Division of Market Oversight. He also worked as Legal Counsel & Policy Advisor…
Revolut Hires Financial Crime Head
Digital challenger bank Revolut has hired Philip Doyle as its new head of financial crime. His previous roles include head of financial crime at UK-based clearing bank ClearBank and fraud prevention manager at Visa. The new hire comes following recent queries by UK regulators around Revolut’s money laundering controls, amid a record number of complaints…
Scope Markets Hires New Head of Compliance
Eliza Eliadou has joined Scope Markets, an online institutional trading platform, as its Group Head of Compliance. Eliadou joins from London Capital Group, where she worked for two years starting in 2017. She was formerly with global brokerage firm easyMarkets. Scope Markets is in a period of expansion, in July teaming up with Gold-i, a…
Gresham House Appoints Head of Compliance
Alternative asset manager Gresham House has appointed Geoff Lambert as Head of Compliance, effective from August 19, 2019. Based out of the firm’s London office, Lambert will report to Samee Khan, General Counsel and Company Secretary of Gresham House. Lambert joins Gresham House from Nikko Asset Management Europe (NAME), where he led the compliance team…
Samantha Miller Joins Visible Alpha as CPO
MiFID II investment research specialist Visible Alpha has appointed Samantha Miller to the newly created post of Chief Product Officer. Miller joins from Dun & Bradstreet where she was Vice President of Global Product Portfolio Strategy and Management. Prior to Dun & Bradstreet, she led a division at LexisNexis as a General Manager and VP…
Garry McClure Joins Delta Capital as Head of KYC
Garry McClure has joined the London office of financial services professional services firm Delta Capital to head up the firm’s KYC business, starting from September 2019. McClure was a previously a managing director at HSBC responsible for global KYC operations across investment, commercial and retail banking. Prior to that he headed up client onboarding at…
First Derivatives Founder Brian Conlon Dies
Brian Conlon, the Northern Irish founder and CEO of the £1 billion+ FinTech firm First Derivatives, lost his battle with cancer on July 28, 2019 at the age of 53. Conlon started at KPMG and worked briefly at Morgan Stanley and software firm Sunguard before starting First Derivatives. He listed the company in 2002 but…
NeoXam Hires New Data Expert
Buy-side software provider NeoXam has appointed Philipp Sfeir to head up its DACH (Germany, Austria and Switzerland) business. Sfeir was most recently Head of Data Management at Zürcher Kantonalbank, one of the top four banks in Switzerland, and since 2016 has been President of the Swiss Information Providers User Group (SIPUG). Florent Fabre, COO of…
Fenergo Raises €66 Million
Irish regulatory compliance firm Fenergo has raised €66 million in investment, according to documents filed with the Companies and Registration Office. The firm is believed to have raised the financing by selling shares to CSC Computer Science Holdings, an affiliate of US-based DXC Technology. DXC General Manager Edward Ho has joined Fenergo as a Director,…
Claudia Rodriguez Joins Pega
Digital transformation specialist Pega Systems has appointed Claudia Rodriguez as inclusion and diversity (I&D) leader, based out of the company’s Cambridge, Mass. headquarters. Her role will focus on creating I&D talent management initiatives with a focus on talent attraction, development, engagement, and retention. She was most recently senior manager of inclusion and diversity in Accenture’s…
Financial Machineries Makes Three Strategic Appointments
Financial Machineries, a provider of data lineage, sourcing, digital rights management and commercialisation of contributed market data, has appointed Keiren Harris, Frank Verstraeten and Daniel Muri to its team. They bring industry experience, regional insight, and networks of professional contacts from across APAC and continental Europe to the company, which is accelerating its ambition to…
Refinitiv names William Leahey as Head of Regulatory Compliance for Wealth Management
Refinitiv has appointed William Leahey as head of regulatory compliance for wealth management. In this role, Leahey will lead all regulatory activities for the wealth management business, identifying key regulatory developments, risks and initiatives for customers. Before joining Refinitiv, Leahey was vice president and assistant general counsel of the operations and technology group at the…
Ascent RegTech Hires New CEO
Ascent RegTech on April 15 announced the hiring of Arbela Takhsh as Chief Operating Officer. Arbela has held various engineering and operational leadership roles at Motorola, Google, Comcast, and most recently as Senior Vice President of Operations Excellence, Quality, and Data Analytics & Business Intelligence at Gogo. The Ascent team has grown rapidly since the…
DTCC Adds Three New Members to Board of Directors
The Depository Trust & Clearing Corporation (DTCC), a provider of post-trade infrastructure for the global financial services industry, on April 9, 2019 announced the election of three new members to DTCC’s Board of Directors during the firm’s Annual Shareholders Meeting. The new directors are Kieran Hanrahan from JP Morgan Chase’s Corporate and Investment Bank, Graeme…
Featured
FEATURED WEBINAR
Upcoming Webinar: Client Experience and Onboarding For Transfer Agents: How to ensure you deliver a seamless client experience and differentiate your services
Date: 26 September 2019 Time: 10:00am ET / 3:00pm London / 4:00pm CET. Clients expect you to seamlessly deliver a range of transfer services. They expect you to delight their investors and ensure you have a robust onboarding and compliance process in place. They also want you to help them ensure they comply with shareholding…
FEATURED EVENT
RegTech Summit London
Now in its 3rd year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
FEATURED GUIDE
Entity Data Management Handbook – Fifth Edition
Welcome to the fifth edition of A-Team Group’s Entity Data Management Handbook, sponsored for the fourth year running by entity data specialist Bureau van Dijk, a Moody’s Analytics Company. The past year has seen a crackdown on corporate responsibility for financial crime – with financial firms facing draconian fines for non-compliance and the very real…
Top White Papers
Trade Surveillance and Mobile Recording in the Era of Data Privacy
The EU’s MiFID II and other regulations globally have placed greater emphasis than ever on market surveillance, recording of trading communications and records-retention processes in an attempt to stamp out market abuse and boost investor confidence and protections. At the same time, the public’s attitude toward data privacy has hardened, most visibly through new regulations...
Solving the KYC & AML Challenge for Cryptocurrencies, Tokens & ICOs
The cryptocurrency market is at an inflection point. It has gained substantial momentum from early investors (private & retail), day traders and prop shops but it has so far failed to get substantive engagement from wider institutional players. The crypto marketplace today is a mix of exchange and OTC-traded activity with little of the market...
Getting eComms Surveillance Right
Demand for electronic communications (eComms) surveillance has risen in response to regulatory requirements and compliance needs to pinpoint problems such as market abuse without wasting time and resources reviewing false positives. Innovative technologies such as machine learning, natural language understanding (NLU) and other strands of artificial intelligence (AI) are improving financial services firms’ ability to...
Events and webinars
Breakfast Briefing: Meeting the Data Requirements of FRTB London
The Fundamental Review of the Trading Book (FRTB) Breakfast Briefing, will examine how the capital markets industry is approaching FRTB data management and will look at the implications for the ways that firms source, manage and store data for FRTB compliance.
Find out moreRegTech Summit New York City
Now in its 3rd year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
Find out moreRegTech Summit London
Now in its 3rd year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
Find out moreTop Knowledge Hub picks
MiFID II
Markets in Financial Instruments Directive II (MiFID II) builds on the original MiFID of 2007 to improve the competitiveness of European markets by creating a single market for investment services and activities, and ensuring protection for investors in financial instruments. Read everything you need to know and get access to all related content.
Regulatory Reporting
Regulatory reporting comprises the submission of raw or formatted data as required by regulators to evaluate and track the financial and operational status of financial institutions and their compliance with required regulatory provisions. Find out all about it in our Knowledge Hub.
Market Abuse Regulation (MAR)
The Market Abuse Regulation (MAR) provides an EU-wide regulatory framework on market abuse, including measures to enhance the attractiveness of securities markets for capital-raising through the prohibition of practices such as insider dealing, unlawful disclosure of inside information and market manipulation. Find out more and access all our key resources here.
Awards
RegTech Insight Awards
The RegTech Insight Awards recognise the best of the best in the RegTech industry. Find out how to vote, enter or see the past winners.
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