The Financial Stability Board (FSB) has finally issued its first list of globally systemically important financial institutions (G-SIFIs) – a practice that it will reprise on an annual basis every November from now on – but what can these 29 firms expect in terms of new data requirements and when?
The European Central Bank (ECB) confirmed last week that it has opted for Sapient Global Markets to build its new asset backed securities (ABS) warehouse for Europe (see the release 
The International Organisation of Securities Commissions (IOSCO) and the Bank for International Settlements’ (BIS) Committee on Payment and Settlement Systems (CPSS) received 32 responses on the subject of data reporting, standards and aggregation for the OTC derivatives markets to its consultation. Following my summary of the first 16 responses earlier this week (see more 
The recent woes at UBS with its own Nick Leeson/Jerome Kerviel (delete as desired) style rogue trader and this month’s MF Global bankruptcy investigation into its customer data practices have both highlighted an important aspect of data management: control. Whether it be data and system access concerns, or those related to the treatment of customer data (and funds) in the correct manner, keeping a better handle on data is in the minds of both the regulatory community and the industry at large.
Thomson Reuters has just completed the integration work involved in allowing Black Mountain Systems’ portfolio management system Everest clients to access the data giant’s DataScope Select pricing and reference data. Brian Buzzelli, head of pricing and reference data for the Americas region at Thomson Reuters, explains the details of the customised data integration process, which was kicked off at the request of Black Mountain clients.
Last week, I looked at some of the data reporting requirements related to the systemic risk oversight developments going on in the US with regards to scrutinising the hedge funds and private equity markets (see more 
This week, the US Securities and Exchange Commission (SEC) conducted an open meeting about new proposed data reporting requirements for the private funds sector for systemic risk monitoring purposes. The SEC and the Commodity Futures Trading Commission (CFTC) have been tasked with adopting a joint form to collect critical systemic risk data about hedge funds and other private funds, with a view to supporting the work of the Financial Stability Oversight Council (FSOC) and as required by Dodd Frank. Form PF (for ‘private fund’) is the result of this work.
The UK Financial Services Authority (FSA) has fined Credit Suisse’s UK operations £5.95 million for failing to maintain accurate records for its structured capital at risk products (SCARPs) and risk related systems and controls failures. According to the regulator, the private bank had inadequate systems and controls in place in order to assess its customers’ risk appetite and therefore did not accurately judge their suitability for investment in SCARPs, which are complex financial products that provide income to customers but also expose them to the risk that they may lose all or part of their initial capital.
The European Securities and Markets Authority’s (ESMA) recent report on the application of International Financial Reporting Standards (IFRS) across the European region highlights that firms are still falling short in their data provision for fair value hierarchy and qualitative disclosures on risks arising from financial instruments. Although the European level regulator notes that progress has been made in the application of standards since IFRS were first applied back in 2005, it indicates that the number of enforcement actions required last year indicate that there is still “room for improvement.”
Earlier this month BT Global Banking & Financial Markets’ head of industry initiatives Chris Pickles asked a number of questions about the legal entity identifier (LEI) project work that has been going on over the last 12 months (see the story 
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Earlier this week, GoldenSource indicated that longstanding client M&G Investments has upgraded its implementation of the EDM vendor’s platform (see the release here). Steve Engdahl, senior vice president of product strategy at the vendor, explains how the upgrade fitted into M&G’s Solvency II compliance preparations.
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