SWIFT shareholders unanimously approved the addition of Financial Market Regulators as a new participant category at the Annual General Meeting (AGM).
Admitting Financial Market Regulators to SWIFT will make it easier for SWIFT members and users to meet regulatory transaction reporting obligations, while facilitating the development of global regulatory reporting solutions, a spokesperson said. The category covers both the payments and securities markets.
“The addition of Financial Market Regulators to SWIFT is a tangible example of how we are helping our customers meet their regulatory requirements,” says Lzaro Campos, CEO of SWIFT. “This new category offers another vehicle for increased efficiency in our pursuit of making it easier for customers to do business. This also helps our strategy in support of European integration.”
In other news, two new SWIFT board members were elected at the general meeting.
Dirk Vanderschrick, COO of Dexia in Belgium, replaces Pascal Deman.
Ingrid Versnel, head of payments and trade for the Royal Bank of Canada (RBC), replaces Martin Read as board director. Read also was the chairman of the Securities Committee.