Red Deer and Cappitech are partnering to offer a combined MiFID II and MAR compliance solution for investment managers. Under the partnership, the two businesses will offer the other’s services to their respective client bases, with a view to providing a seamless integrated solution that helps compliance teams manage the complexities of the regulations.
CipherTrace has joined the NICE Actimize X-Sight Marketplace, the financial crime and compliance ecosystem, which connects financial firms with data, applications, tools and service providers.
The European Securities and Markets Authority (ESMA) has published a peer review report on how national competent authorities (NCAs) manage suspicious transactions and order reports (STOR) under the Market Abuse Regulation (MAR).
The Report sees a significant increase in STORs and finds that national supervisors can do more to ensure that all financial participants play their part in combatting market abuse.
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.
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.