Compliance & Risk Management

Latest Headlines

Latest Headlines

Unanimous approval of Reg SCI adds rules for technology oversight

Regulation Systems Compliance and Integrity or Reg SCI, the rules devised to better insulate the market against the technical failures, received unanimous approval on Wednesday. The regulation--which mainly applies to exchanges, clearing houses and certain other market infrastructure players--mandates annual reports on efforts to safeguard systems and a policy for immediately notifying the Securities and Exchange Commission when a major technical problem is detected.

Financial firms wrestle with fourth-party risk

In manufacturing, companies are traditionally worried about every component of their supply chain, assessing each component's performance level and susceptibility to failure. As spectacular cyber breaches and technical glitches make headlines, financial firms that have outsourced portions of their infrastructures as cost-saving measures are now looking at their supply chains with that same critical eye.

IOSCO report: Post-trade transparency in CDS market does not affect market risk

The availability of post trade data in the credit default swap (CDS) market does not have a significant effect on market risk exposure, according to a new report from the International Organization of Securities Commissions (IOSCO). The report, based on a review of existing studies, publicly-available post trade data and a survey of market participants, also found that more post trade transparency would help the market.  

Markit, Genpact sign up more than 600 for KYC service

Markit and Genpact Ltd. announce they have signed more than 600 firms to their jointly developed centralized know-your-customer (KYC) information management service. The requirement for financial firms to manage KYC information has sparked the formation of several companies in the past year vying to be industry providers of KYC services.  

ICE Benchmark Administration wins management of gold benchmark

Intercontinental Exchange's ICE Benchmark Administration unit will take over the management of the gold benchmark price fixing, replacing a 95-year-old process with an automated platform early next year.

New risk reporting demands contribute to growing concern over manual back-office processes

In 2010, 85 percent of respondents to an asset management industry trends survey expressed concern that manual processes might affect their ability to control errors in the back office. Today, that number has risen even higher, to 94 percent, according to Confluence, the data management provider to the asset management industry, which conducted the survey.

NIBC gives users compliance controls, mobile access

Forced to meet new regulations, Netherlands-based merchant bank NIBC needed to prove that it was compliant in the way it managed unstructured data. Doing so led to a project it's rolling out on a department-by-department basis, an effort that provides document and email compliance controls while also allowing employees to better access files from mobile devices.

DTCC's FICC aims to submit draft proposal for tri-party repo utility by year-end

The Depository Trust and Clearing Corporation's Fixed Income Clearing Corporation subsidiary plans to submit a draft proposal for a utility to provide central clearing in the $1.6 trillion tri-party repo market by the end of the year. The utility will leverage FICC's GCF Repo platform, which is used for central clearing of repo transactions between dealers.

Is the SEC engaging in insider trading 2.0?

Two separate academic studies suggest that some paying subscribers may be getting Securities and Exchange Commission filing information ahead of the general public, the Wall Street Journal reported....

Bank of England investigates glitch that caused 10-hour crash of key payments systems

Bank of England Governor Mark Carney promised a "thorough, independent review" this week after a 10-hour failure of a payment system whose daily payments processing volumes total 277 billion British pounds.