financial institutions Archives - The Industry Spread

CFTC Orders Six Financial Institutions to Pay Total of More Than $6 Million for Reporting Failures

October 5, 2019

The U.S. Commodity Futures Trading Commission today announced that it issued orders yesterday against HSBC Bank USA, N.A., Société Générale International Limited, The Northern Trust Company, NatWest Markets Plc, The Bank of New York Mellon, and PNC Bank, National Association for reporting failures.  Société Générale International Limited and The Northern Trust Company were also charged with failing to supervise in connection with the reporting failures.  HSBC was also charged with violating swap-dealer risk management regulations, the first time the Commission has brought such an action.

SEC, NASAA, and FINRA Issue Senior Safe Act Fact Sheet to Help Promote Greater Reporting of Suspected Senior Financial Exploitation

June 2, 2019

In recognition of the one-year anniversary of the passage of The Senior Safe Act, the Securities and Exchange Commission, the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) have issued a fact sheet to help raise awareness among broker-dealers, investment advisers, and transfer agents of the Act and how the Act’s immunity provisions work.

ICE Data Services Launches New Service With Credit Benchmark Data to Provide a Comprehensive, Daily Market View of Credit Risk

May 11, 2019

Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that ICE Data Services has launched ICE Credit Risk, an innovative new suite of analytics. These analytics measure credit risk by combining daily market credit risk analytics with monthly fundamental credit views from financial institutions. Consensus estimates will be provided on an exclusive basis by Credit Benchmark, a leader in consensus-based credit analytics.

Thompson Reuters & IBM launched New AI to Improve Regulatory Compliance Challenges

May 3, 2019

Thompson Reuters, a multinational mass media and information firm has partnered with tech giant IBM and launched a new AI which aims at simplifying regulatory compliance challenges faced by Financial institutions. Major Banks and financial institutions are seeing an ever growing regulatory compliance requirement. Through this joint collaborations, both companies aim to offer financial institutions access to RegTech Solutions offered by IBM cloud that features real time financial services data from thousands of content sources.

Update to E-Payments User Protection Guidelines

April 28, 2019

The Monetary Authority of Singapore (MAS) has updated the E-Payments User Protection Guidelines (“Guidelines”) to clarify that the Guidelines do not override customers’ instructions to their financial institutions on transaction notification thresholds for e-payments.

SWIFT Appoints Javier Pérez-Tasso as its New Chief Executive Officer

April 25, 2019

SWIFT, the world’s leading provider of secure financial messaging services provider or the transfer of the international payments has appointed Javier Pérez-Tasso as its new Chief Executive Officer (CEO), effective from July 1, 2019. After taking over the position of the CEO, he will be based out of the company’s headquarters in Belgium.

European Equities Lower after Weak Data

April 18, 2019

Asian stocks finished lower from nine months highs, after worse than expected figures from Japan. Sino-US trade relations were in focus again today as White House economic adviser Larry Kudlow said “very good progress” was being made in talks. The Nikkei225 main index lost 0,89 percent to 22,080, the Hang Seng benchmark in Hong Kong finished 0.46 percent lower at 29,982. Chinese stocks also finished lower, with Shanghai Composite finishing 0.12 percent lower at 3,259, and in Singapore, the FTSE Straits Times index finished 0.17 percent lower at 3,342.