SimCorp launches new cloud-based SFTR solution in bid to ‘liberate’ clients
SimCorp launches new solution as it aims to ‘liberate its clients from the arduous and costly task’ of transaction reporting under SFTR.
Regulation
BNP Paribas prime brokerage and securities business fined $15 million for AML failures
The fine was related to failures over BNP Paribas' AML system to identify suspicious penny stock trades and wire transfers over a four year period.
Industry bodies call for ‘bolder action’ on Capital Markets Union
AFME and other organisations praise Europe's sustainability efforts but highlight other concerns around opinion-dividing capital markets initiative.
Northern Trust, Societe Generale, BNY Mellon and others fined $6 million for swaps violations
The US CFTC also fined NatWest Markets, PNC Bank and Northern Trust for reporting and risk management regulation failures.
Hong Kong financial watchdog proposes oversight of custodians
Hong Kong's SFC is proposing a new type of licensed activity for trustees and custodians of collective investment schemes (CIS).
Asset managers wary of potential new regulatory reporting regime
A possible review of reporting regulations could be an additional burden on asset managers and present a "significant danger" according to one expert.
Asset managers pressured to enhance oversight of outsourcing partners
Regulatory pressures on asset managers to oversee and govern their outsourcing service providers has become a challenge for the buy-side.
Uncertainty surrounds the future of UK’s post-Brexit clearing plans
FCA chief Bailey voices his concern over the future of the UK's CCPs once its temporary recognition with ESMA expires in 2020.
China drops restrictions on QFII/RQFII investment quotas
The two investment schemes are a major part of China’s strategy to open its capital markets to global investors.
ESMA to implement tough stress test requirements for UCITs and AIF funds
A growing number of European regulators and investors have expressed concerns about the liquidity risk management practices at daily dealing UCITS funds.