Regulation
Data Management Demands of Stress Tests and Standards ─ Webcast
On June 24, Inside Reference Data hosted a webcast about the changes firms must make to comply with the BCBS 239 risk data aggregation and reporting principles, the CCAR and FDSF stress testing programs and the COREP and FINREP reporting frameworks
Fédéris Chooses SimCorp for Solvency II, EMIR, AIFMD
Fédéris Gestion d'Actifs, a French asset management firm, will use SimCorp Dimension to provide access to the granular data needed for Solvency II and to execute more of its own regulatory reporting rather than delegating this to external providers
LEI Common File Format Published
Adoption of a common file format for pre-legal entity identifiers is intended to reduce the likelihood of duplicate records and incorrect data, and to make it easier to integrate data from different pre-local operating units
Linedata Adds Fatca Tax Withholding, AML Upgrades
Linedata's Mshare transfer agency software can now be used to automate the withholding of a 30% tax on US-sourced income to individuals and entities that are not compliant with the US Foreign Account Tax Compliance Act
Midnight in the Rue Jules Verne
FCA chief’s remarks and the UK’s moves to regulate FX lead this week’s coverage.
UK Chancellor Promises FX Market Review, Benchmark Oversight
George Osborne MP, the UK Chancellor of the Exchequer, has instigated a wholesale review of how foreign-exchange (FX) markets in the UK are regulated, along with widening the scope of which benchmarks are covered by new legislation on market abuse.
Toronto FIS: IRD's Editor Shares Highlights
Inside Reference Data editor Michael Shashoua notes key themes discussed at the Toronto Financial Information Summit on June 10
Decision Near on Inclusion of LEI in Canadian Fixed-Income Data Repository
IIROC, the Canadian self-regulatory organization, is expected to finalize Rule 2800C this summer, which could include the collection of legal entity identifiers in a fixed-income data repository.
Kynetix, Contango Launch EMIR Data Matching Tool
The TRAMS tool compares the unique trade identifiers and other data elements in the records held by trade repositories and market participants to ensure they are consistent
FCA Chief Highlights Struggle against “Dystopian” Tech Scenario
Martin Wheatley, chief executive of the UK Financial Conduct Authority (FCA), has said that the role of regulators in the modern world is to strike a balance between realizing the benefits of market technology, while not allowing it to run amok.
Principles In Action
Strapline: Industry Warehouse
Liquidnet Settles SEC Case for Improper Use of Customer Data
Dark pool operator Liquidnet on Friday agreed to pay a $2 million fine to settle a US Securities and Exchange Commission (SEC) charge that the New York-based brokerage improperly used subscribers' confidential trading information in marketing its…
LEI's Big Payoff
While the legal entity identifier is starting to produce value for data management operations, Fatca and BCBS 239 could follow suit in similar fashion
Fatca Drives Data Operations Changes
As a July 1 deadline approaches, it's become evident that the US Fatca tax withholding regulation has driven big changes in data collection and reporting, as the industry works to comply with the new tax withholding rules. Michael Shashoua reports on…
Securing LEI Success
From more regulatory mandates to standardized data quality checks, there was no shortage of suggestions of ways to ensure the success of the LEI project at the North American Financial Information Summit, writes Nicholas Hamilton
Euronext UK Markets Gains RIE Status
The London-based venue in the Euronext group, Euronext UK Markets, has been granted Recognized Investment Exchange (RIE) status by the UK Financial Conduct Authority (FCA), ahead of the group being spun out by parent company IntercontinentalExchange (ICE…
UK Government Mulls FX Oversight
The UK Chancellor of the Exchequer, George Osborne, is reportedly preparing to announce plans that would see formal regulation enter the foreign-exchange (FX) markets for the first time.
BMO Capital Markets Chooses Fenergo for Fatca, Derivatives Compliance
Fenergo will complete the first phase of the implementation of its onboarding software for the Canadian investment firm on July 1, when Fatca comes into force
Shouldering Fatca Responsibility
The industry has the pieces necessary for effective systems and operations to comply with the US foreign tax withholding rules, but must figure out how to put them all together as the July 1 deadline nears
Michael Shashoua: Basel Didn’t Start the Fire
The Basel Committee’s BCBS 239 risk data aggregation principles, intended to spur a response from major financial firms by January 2016, are actually the final step in a long-running industry development, Michael writes.
James Rundle: Ahead of the Curve
James sees recent pushes by the sell side toward embracing new technologies as a sign that a more intelligent approach is being taken, both by regulators and by banks.
European Firms Grapple with Algo-Tagging Rules
Although the flagging and tagging of algorithms is only currently required in Germany, under the German HFT Act, it is slowly making its way into Pan-European law. Marina Daras looks at the German rule to see how the algo labeling requirement under Mifir…
SROs Deploy Advanced Tech to Keep Up with Members
Self-regulatory organizations can’t tap into company profits like banks, nor can they rely on taxpayer funding like government regulators. Still, using only membership dues, they must carry out their registration and surveillance functions of national…
Fatca: Crunch Time -- Webcast
On May 28, Inside Reference Data hosted a webcast about US Fatca tax withholding regulation, in which four experts in the field discussed industry readiness for an impending July 1 deadline