Extended Partnership Focuses on Cost-Basis & Tax Reporting Wolters Kluwer Compliance Solutions and Broadridge Financial Solutions, Inc. report that they have “enhanced their longstanding relationship by entering into a strategic alliance to provide an industry-leading solution for cost basis and tax reporting processing needs.” The strategic alliance allows the firms to “seamlessly share necessary tax… Read More >>
Cowen Uses n-Tier for CAT Reporting System
CAT System Aggregates Internal & External Reports Investment bank Cowen has gone live with a Consolidated Audit Trail (CAT) data aggregation and validation process that uses regulatory reporting vendor n-Tier’s Compliance Workbench to pull together external and internal reports, officials say. The system from n-Tier gathers CAT reports from “external vendors and internal trading systems,”… Read More >>
BTMU Holland Picks Wolters Kluwer’s OneSumX
Bank of Tokyo-Mitsubishi UFJ (Holland) NV (BTMU Holland), the Japanese bank’s Netherlands subsidiary, has signed with Wolters Kluwer Financial Services (WKFS) to use its OneSumX solution, officials say. BTMU Holland will employ OneSumX to manage both its liquidity risk and its credit risk, WKFS officials say in a statement, adding that BTMU Holland has “specifically… Read More >>
Tips for Moving to IFRS 9
The International Accounting Standards Board (IASB) has confirmed that new International Financial Reporting Standards (IFRS 9) will go into effect by 2018, and financial institutions are already feeling the pressure as they prepare for the rules to come, according to an IASB statement. To help financial firms with the transition, vendor Wolters Kluwer Financial Services… Read More >>
Special Report: Surviving the Phenomenon of FATCA
No matter how hard financial services firms try, they cannot avoid the reach of the Foreign Account Tax Compliance Act (FATCA), a law meant to curtail offshore tax evasion. In this 15-page, in-depth report, FTF News explores the complexities of meeting the FATCA deadlines and the demands of the IRS even as the government provides… Read More >>
FATCA Easing and Good Faith Efforts
Sighs were heard across Wall Street last week after the IRS announced some “FATCA easing,” of the many enforcement and administration requirements of the Foreign Account Tax Compliance Act. However, the fine print may cause those sighing to wish for more relief. To recap, the IRS announcement, “Further Guidance on the Implementation of FATCA and… Read More >>
Sabby Management Retains SS&C as Mizuho Units Tap Wolters Kluwer for Basel III Support
Sabby Management Sticks With SS&C GlobeOp About two years ago, Sabby Management found itself in a tight spot. The hedge fund had a month to find a fund administrator for two new funds, says Robert Grundstein, chief operating officer and general counsel for the firm. Sabby was launching two healthcare sector fund complexes for September… Read More >>
