Michael Silverence is hoping that the days of using PDFs to spread the word in the U.S. and globally about the corporate actions impacting American Depositary Receipts (ADRs) are numbered. The BNY Mellon vice president, who oversees global product management, particularly innovation and technology, has been heavily involved in a project to automate corporate actions… Read More >>
SWIFT Opens Office in Mexico City
Financial messaging and services cooperative Swift has opened a new office in Mexico City, which will be headed by Ruben Galindo, director, sales services for Mexico, who will report to Jairo Namur, regional manager, Latin America. Galindo was previously regional product head for Latin America at HSBC. The Mexico City expansion is in response to… Read More >>
SWIFT Upgrades Bankers World Online Directory
SWIFT has launched of a new version of its online query tool Bankers World Online directory to meet industry demands for a comprehensive source of financial data to meet an ever-growing number of regulatory reporting requirements, say officials of the financial messaging and services cooperative. SWIFT reports that the BWO directory, which is part of… Read More >>
SWIFT Adds BI Tool to Compliance Suite
Financial messaging cooperative SWIFT has launched a new business intelligence tool Compliance Analytics, an addition to its compliance services suite that is intended to help banks mitigate financial crime risk. Compliance Analytics has been crafted to assist banks in their analysis of their own SWIFT traffic data. The tool was created to identify anomalies in… Read More >>
SWIFT Acquires Crime Fighters as Newedge Fills Execution Post
SWIFT Acquires Omnicision, Adds Financial Crime Team A new group of financial crime fighters has joined the SWIFT financial messaging and services consortium via the acquisition of Omnicision, the UK-based provider of financial crime prevention services and solutions. The new crime fighters from Omnicision bring specialist skills in such areas as sanctions, anti-money laundering rules… Read More >>
Breaking News Update: ISITC Eases Ban on Press
An industry trade group that advocates transparency, ISITC initially banned and then let media attend a keynote address by Carla Harris, vice chairman, global wealth management, managing director and senior client advisor at Morgan Stanley, who spoke Monday morning. Her speech, however, was still off the record. Focused on developing industry standards, the International Securities… Read More >>
Regulators Stress Money Laundering Systems as SWIFT Lines Up Heavy Hitters for KYC Registry
Regulators Putting Too Much Stress on Money Laundering Systems: SWIFT Panelist The “very hot” issue of money laundering has captured the attention of the SEC and FINRA, among other regulators and they making having anti-money laundering (AML) systems in place such a high priority that “everything leads to money laundering” for them, says a panelist… Read More >>
Celent Report Finds CBR Project Costs Rising as Markit Buys thinkFolio
Celent Report Finds CBR Project Costs Rising Firms have found that over the past three years cost basis reporting projects have had bigger price tags because of data quality issues, systems integration challenges and unavoidable manual processes, according to study by market research firm Celent, a division of Oliver Wyman, Inc. The report was funded… Read More >>
NSCC Lobbies for an Alert System for Trading Limits as Fiserv Ports TradeFlow to Linux
NSCC Seeks SEC Approval for Limits Alert System The National Securities Clearing Corp. is seeking the SEC’s approval for a key component of a monitoring system that will alert firms to trading activity that hits or exceeds trading limits.A subsidiary of the DTCC, the NSCC wants to provide its members with a new tool… Read More >>
A Halloween Treat: Interim CICIs Become Permanent
Unfortunately, I do not have a Halloween tale about an operations nightmare that would scare the bejesus out of you. Instead, there appears to be a bit of good news on the global legal entity identifier (LEI) front, which is a welcome change from the recent horrors of government shutdowns, record fines and markets fearing… Read More >>
