UK FSA Confirms will Require Firms to Publish Consolidated Complaints Data

As part of its drive to compel financial services firms to provide more transparency into their data, the Financial Services Authority (FSA) has confirmed this week that it will require UK firms to publish information on how they handle complaints. According to the regulator, this will help people see how firms are performing in this area and to drive up complaints handling standards across the industry. It will also pose another data challenge for firms already facing new requirements around risk data reporting and single customer view (SCV) reforms (see here).

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04 Feb 2010
 
SmartCo’s Mougin Talks up CounterpartyLink Partnership

Following the announcement earlier in the week that entity data vendor CounterpartyLink and SmartCo have integrated their offerings (see here), Pascal Mougin, chairman of the EDM vendor speaks to A-Team Group about his perspective on the tie up.

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18 Dec 2009
 
SmartCo Teams up with CounterpartyLink for New Entity Data Solution

Given the intense focus on counterparty risk in the post-Lehman world, it is no surprise that various members of the vendor community are teaming together to tackle the entity data space. One such partnership has resulted in the integration of EDM vendor SmartCo’s DataHub solution with CounterpartyLink’s issuer, client and counterparty data. James Redfern, head of sales and marketing at CounterpartyLink, explains that the two vendors first got talking about the solution through a mutual client and things progressed from there.

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16 Dec 2009
 
UK FSA Creates Data Management Challenge with Single Customer View Reforms

The UK Financial Services Authority (FSA) has recently released a paper discussing the feedback it has received from the market with regards to its proposals around the verification of the single customer view (SCV) for deposit taking institutions. The reforms, which are aimed at facilitation a single, consistent, view of an eligible claimant’s aggregate protected deposits with a deposit taker as part of the Financial Services Compensation Scheme (FSCS), will likely result in significant data challenges for financial institutions attempting to aggregate this data.

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06 Nov 2009
 
3L3 Committees Publish New Paper on Supervisory Practices for Money Laundering Directive

The three European level three (3L3) committees, the Committee of European Securities Regulators (CESR), the Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pension Supervisors (CEIOPS), have this week turned their attention to the area of anti-money laundering (AML) with the publication of a new report. The 3L3’s Anti-Money Laundering Task Force (AMLTF) has therefore released a new paper detailing recommendations for European regulators on implementing the Third Money Laundering Directive (2005/60/EC).

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16 Oct 2009
 
Actimize’s Parent Company Buys Fortent for US$73.5m to Bolster Compliance and Risk Offering

Following its acquisition of Syfact earlier this year, Nice Systems’ Actimize business has added yet another bow to its compliance and risk management quiver with the acquisition of AML solution vendor Fortent. The purchase of the vendor for a cash transaction of US$73.5 million is aimed at strengthening Actimize’s risk analytics, compliance and financial crime offering in line with its cross channel strategy, according to David Sosna, CEO of the vendor.

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01 Sep 2009
 
New Directive Seeks to Harmonise Capital Requirements and Risk Approach Across Europe

The European Parliament has published a new directive updating capital requirements for banks as a response to the specific weaknesses identified by the European regulatory community during the financial crisis. The directive is aimed at ensuring close coordination across regulators relating to risk assessment and achieving full harmonisation for reporting requirements in this space at a European level by 2012.

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10 Aug 2009
 

 
 

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