Latest Reporting/compliance News: Finextra Research

Regulators demand action on Legal Entity Identifiers

International regulatory authorities have called for the urgent creation of a universal Legal Entity Identifier (LEI) in their final report on the OTC derivatives data that should be collected, stored and disseminated by trade repositories (TRs).

17 January 2012

News/Reporting/compliance

Global retail banking IT spending on the rise - Ovum

Despite ongoing economic turmoil, global spending on retail banking technology will increase by $3.6 billion - 3.2% - in 2012, and will hit $135 billion over the next five years, according to analyst house Ovum.

13 January 2012

News/Reporting/compliance

SEC charges adviser over LinkedIn scam; steps up guidance on social media

The Securities and Exchange Commission has charged an investment adviser with trying to sell $500 billion-worth of fictitious securities on LinkedIn and other social networking sites.

05 January 2012

News/Reporting/compliance

Lombard Risk buys Sofgen regulatory reporting business

Lombard Risk Management has acquired the regulatory reporting business of Sofgen for $4.25 million in cash, loan notes and equity.

19 December 2011

News/Reporting/compliance

Cinnober releases hosted OTF package

Swedish technology supplier Cinnober has released a subscription-based hosted service for banks and brokerages looking to create an Organised Trading Facility in line with new European marketplace regulations.

08 December 2011

News/Reporting/compliance

Horlick and Winterflood join Post-Trade Forum debate

Nicola 'Superwoman' Horlick and Brian Winterflood will lead a high-powered panel of City executives debating the future of European securities markets at Finextra's final Post-Trade Forum event of the year, which takes place at the London Stock Exchange later this month.

11 November 2011

News/Reporting/compliance

SEC puts Longtop under the cosh

The Securities and Exchange Commission has charged Longtop Financial Technologies with failing to file accurate reports, paving the way for a ban on broker-dealers trading in the Chinese fintech vendor.

11 November 2011

News/Reporting/compliance

SEC rebukes Finra over altered documents

US watchdog Finra has been given a taste of its own medicine, scolded by the Securities and Exchange Commission (SEC) for allegedly doctoring documents before passing them on.

28 October 2011

News/Reporting/compliance

UBS comes up short; fined $12 million by Finra for 'systemic supervisory failure'

The Financial Industry Regulatory Authority (Finra) has fined UBS Securities $12 million for failing to properly supervise short sales of securities.

26 October 2011

News/Reporting/compliance

Dark pool operator Pipeline pays $1m to settle SEC case

Pipeline Trading Systems will pay $1 million to settle SEC charges that it failed to tell users of its dark pool that the vast majority of orders were filed by an affiliated operation.

25 October 2011

News/Reporting/compliance

UBS admits to breakdown in risk control systems

In the wake of its recent $2.3 billion loss through unauthorised trading, Swiss bank UBS has admitted that internal controls were "not effective".

25 October 2011

News/Reporting/compliance

EC plans criminal sanctions for market abuse

The European Commission has vowed to get tough on insider dealing and market manipulation, proposing EU-wide rules on minimum criminal sanctions.

20 October 2011

News/Reporting/compliance

MiFID reforms published; compliance bill to hit EUR732m in year one and EUR586m per annum thereafter

Financial markets in Europe are set to undergo a fundamental overhaul, as the European Commission rolls out new rules and regulations covering every aspect of the trade lifecycle, from pre-and post-trade transparency, through to execution and clearing and settlement.

20 October 2011

News/Reporting/compliance

EU financial markets get ready for MiFID II

The European Commission is this week meeting to finalise the details of a new set of rules governing competition and transparency in the capital markets, with implications for high frequency traders, execution venues, clearing firms, and the over-the-counter markets.

19 October 2011

News/Reporting/compliance

Quote MTF severs ties with Swift Trade

Pan-European equity trading venue Quote MTF has severed all ties with Peter Beck, controversial CEO of the former day trading firm Swift Trade, which has run foul of global regulators for alleged market abuse.

17 October 2011

News/Reporting/compliance

SEC proposes swaps registration rules

The Securities and Exchange Commission (SEC) has voted to push for a rule making security-based swap entities electronically file their registration with regulators.

13 October 2011

News/Reporting/compliance

Firms urged to begin IT prep for handling LEIs

Delegates at the annual user conference of financial messaging body Swift were given more information about the development of the legal entity identifier (LEI) messaging standard designed to produce an electronic tag for the counterparties in all securities transactions

22 September 2011

News/Reporting/compliance

EU watchdog warns of financial instability as Sibos bankers complain about regulatory burden

Financial stability within the EU is at risk unless decisive and swift action is implemented by all authorities, according to a warning issued by the European Systemic Risk Board (ESRB), the EU's super-watchdog.

21 September 2011

News/Reporting/compliance

UK to sue European Central bank over clearing rules

The British government is to sue the European Central Bank over draft regulations that would force major clearing houses to relocate their operations away from the City of London.

15 September 2011

News/Reporting/compliance

SEC files court action to force handover of Longtop documents

The Securities and Exchange Commission (SEC) has asked a federal court to force the Chinese arm of accounting outfit Deloitte & Touche to hand over documents related to possible fraud by Longtop Financial Technologies.

09 September 2011