While data governance and data quality management concerns are definitely not sexy subjects, securities-trading firms can get into hot water if data-related matters are mismanaged. Take, for example, Citibank, N.A, and the $75 million penalty levied against it by the Office of the Comptroller of the Currency (OCC) and the related civil penalty of $60,625,620… Read More >>
Climate Change Puts Banks at Risk: NYS DFS
“Climate change is happening now, and we have to take steps to manage the financial risks now,” says Linda A. Lacewell, the superintendent of the New York State Department of Financial Services (NYS DFS). “We simply can’t wait any longer to deal with it. “We want to ensure that every institution is managing its own… Read More >>
Regulators Discipline Citigroup Over Risk Management Defects
Citigroup Inc. has launched “significant remediation projects” to bolster its risk management controls, infrastructure, and governance as a result of two consent orders from federal banking regulators that found major shortcomings in Citi’s enterprise-wide risk management, compliance risk management, data governance, and internal controls. The Federal Reserve Board and the Office of the Comptroller of… Read More >>
Data Licensing Woes Strain Data Governance for Most Firms
Data management consultancy 3d innovations (3di) says that its data governance efforts for financial services clients over the past 16 years has led to $1 billion in cost avoidance via global data licensing domains. As executives squeeze IT and operations budgets, better data governance has become a major concern for securities trading firms. The major… Read More >>
Vendor 3di Hires Specialist from BNP Paribas
IPUG Vet to Lead RegTech Effort at 3di 3d innovations (3di), a data management software and services vendor serving buy- and sell-side firms, has hired market data specialist John Ikel from BNP Paribas to drive its main consulting and product unit for data governance, vendor officials say. Hiring Ikel is part of “a natural restructuring… Read More >>
Will T+2 Make the Most Progress in 2015?
FTF News gathered forecasts from three vendors — Advent Software, DataArt and FSMLabs — to get their Ops predictions for 2015. This piece is part of a series in January exploring what key industry participants think will be the top Ops issues this year. Advent Software: T+2 to Progress the Most in 2015 Investment management… Read More >>
