Regulation

Articles

09 Dec 2019 — Bill Hodgson

ESMA adopts the revised timing for P5 & P6 of UMR.

 

 

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03 Dec 2019 — Deputy Editor

Tookitaki, the AML and Reconciliation provider, has just announced an additional US$11.7 million in funding, taking the total investment in the Series A round to US$19.2 million.

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27 Nov 2019 — Deputy Editor

The Bank of England’s PRA has fined Citigroup Global Markets £43.9 million for failings in relation to their internal controls and governance arrangements, which underpin compliance with PRA regulatory reporting requirements. As a result, between 19 June 2014 and 31 December 2018, they failed to submit complete and accurate regulatory returns to the PRA.

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22 Nov 2019 — Deputy Editor

Ecosystm, the global technology research and advisory platform has just published a new report, ‘Ecosystm Predicts: The Top 5 Fintech Trends for 2020’, which highlights -

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20 Nov 2019 — Deputy Editor

SFTR reporting goes live in April 2020 when firms will need to report their Securities Financing Transactions (SFTs) to an approved Trade Repository. Designed to increase transparency, SFTR will allow regulatory authorities to assess the risks associated with these transactions.

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13 Nov 2019 — Bill Hodgson

IHS Markit has announced that HSBC, UBS, BofA Securities, and 3 unnamed broker-dealers are to use the Outreach360 platform to manage standardised counterparty questionnaires for Securities Financing Transaction Regulation (SFTR).

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11 Nov 2019 — Bill Hodgson

Ascent, the Chicago-based RegTech, recently announced the closing of its Series B funding round of $19.3 million.

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04 Nov 2019 — Bill Hodgson

RegTech compliance specialist, muinmos has appointed Conor Ringland as Chief Commercial Officer.

Ringland has more than 30 years’ experience in financial services, including Chief Operating Officer at Concordium Foundation, CEO of Walbrook Capital Markets, Head of Financial Markets (Digital) at Lloyds Commercial Bank, and Head of Front Office at Saxo Capital Markets.

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CCP Todo List
25 Oct 2019 — Bill Hodgson

TL;DR A group of major firms are exhorting regulators and therefore CCPs to improve their resilience, recovery and resolution planning.

The GFC has caused the expansion of central clearing to transform credit risk. The intention being to avoid a future systemic failure. Global regulators have set the standards and rules for clearing and margining so far.

But now major CCP users have published a letter describing their views on how CCPs need to improve. The letter references the default at Nasdaq Clearing AB in 2018 and acknowledges work done since to improve their resilience.

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04 Sep 2019 — Malavika Solanki

If your firm is in the OTC interest rate derivative creation process, an important deadline is looming just after the ‘back to school’ period this September.

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16 Aug 2019 — Bill Hodgson

We thought you should be aware of a video produced by DRS which describes updates to the ISDA and custodian documentation for UMR. These updates form the 'next generation' of documentation intended to make re-papering for UMR easier for firms going forward. The video is 36 minutes long and includes nice diagrams.

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09 Aug 2019 — Rajesh Sadhwani

The replacement of the Interbank Offered Rates (IBORs) will have a major impact on financial services firms around the world, and regulatory agencies are pressuring institutions to begin their transitions to alternate or reformed benchmark rates ahead of a proposed 2021 deadline.

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