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.