While overshadowed by the holidays, the season of predictions is upon us and there will be many financial technology prognostications for 2014. Overall, there are already signs that, yes, Virginia, we may have reasons to be jolly next year. If nothing else, we’ll be very busy. For starters, investment in risk management technologies, services and… Read More >>
FATCA Gains Ground in the Caymans and Costa Rica
Despite reports and industry concerns that it would not happen, the U.S. Treasury Department is happily reporting that the U.S. signed intergovernmental agreements (IGAs) with the Cayman Islands and Costa Rica late last month that will facilitate the Foreign Account Tax Compliance Act (FATCA). As many of you know, FATCA, enacted in 2010, requires firms… Read More >>
The Promise of Corporate Actions Contradictions
At one point during FTF’s CAPCon New York conference yesterday, a panelist noted that many of the issues being raised have not substantially changed over the past 20 years. While I concede the point, my perception is that corporate actions processing has become a mix of extreme contradictions that are harbingers of real changes to… Read More >>
Omgeo Aims for a Global SSI Utility as DTCC Builds Client Data Service with A-List Firms
Omgeo & DTCC Ready ‘Global Utility’ for SSIs Post-trade solutions provider Omgeo and the DTCC are combining forces to build a repository that would effectively serve as a global utility for standing settlement instructions, intended to lower operational costs and bolster efficiency, say Omgeo and DTCC officials.SSI data such as account number, currency code, security… Read More >>
Avoiding FATCA’s Pitfalls
The IRS has officially kicked off its website registration for those that fall under the jurisdiction of the Foreign Account Tax Compliance Act, which is a lot of people. Taking that first step is important but as the respondents to FTF News’ questions report, there will be many pitfalls to avoid.For this Q&A, FTF News… Read More >>
Your FATCA Journey Begins Today
As promised, the IRS, which oversees the Foreign Account Tax Compliance Act, has launched its web link for FATCA registration this morning and the agency and providers are doing what they can to ease what looks like the start of a fairly complicated process.The first step would be for firms to download a 76-page user… Read More >>
Financial Crime Update
A single IT platform may not be achievable for an anti-financial crime strategy because such frameworks have to prevent money laundering, promote sanctions compliance and provide quality data for know-your-customer requirements, according to panelists who took part in FTF’s Financial Crime & AML conference in New York last week.Financial crime prevention and mitigation requires financial… Read More >>
Time to Download Our New Issue
Well, we’ve done it again. We pooled our vast editorial resources and put together another digital magazine for you. This time, the Summer/Fall 2013 edition takes on information challenges in a new way by focusing on the “New Rules of Operational Data Management.” We want to help you cope with emerging and ongoing data challenges… Read More >>
Forging IT Leadership in the Regulation Decade
A keynote speaker for the19th ISITC Annual Industry Forum and Vendor Show in Boston this week focused on the industry trade group’s raison d’être when he urged those in attendance to take on the “big challenges” such as driving a consensus to make standards reality such as the push for wider usage of ISO 20022-based… Read More >>
Could China Kill FATCA?
The Foreign Account Tax Compliance Act (FATCA) could unravel if the U.S. and the People’s Republic of China fail to sign an intergovernmental agreement (IGA) giving the IRS the right to enforce the new tax compliance for foreign assets and offshore accounts, says Nigel Green, CEO and founder of the deVere Group, a global financial… Read More >>
