Today we updated the Periodic Table of Entity and Security Identifiers to help our friends in compliance and in the reference data worlds keep track of the many identifiers around the world. It’s been an entire year since our first pass at organizing this detail, so there are several changes. With the advent of […]
It has been over a year since we launched the Periodic Table of Bank Regulations and Compliance, our attempt to catalog and summarize the key AML/KYC rules from around the world. Financial regulations continue to morph and increase in the US, UK, and EU as well as parts of Asia. Our Compliance Team compiled […]
FATCA panic mode seems to be dialing up slightly with the imminent release of the GIIN system. The panic briefly let up when, on July 12, 2013 the IRS released a revision to the deadlines for FATCA compliance. Here are the top sites, […]
RBS Fine Highlights Critical Role of Reference Data in Compliance
Last week the UK’s Financial Conduct Authority (FCA) fined RBS £5.6MM for “pervasive reporting failures” or, in other words, for having inaccurate reference data.
The FCA Handbook Online states:
“For agency transactions a customer/client identifier is required to identify the client on […]
Over the past year, Alacra has hosted several informal peer-to-peer FATCA events in London. Banks from the City joined us to discuss and learn about different approaches to FATCA. The Alacra Compliance Team has also met directly with many of our clients and prospects to understand their plans and requirements for addressing FATCA. […]
New calculator shows compliance executives the true costs and savings of compliance remediation projects.
July 11, 2013 – New York: Alacra, Inc., a leading provider of business information solutions for financial institutions and professional service firms announces the release of the new Alacra Compliance Remediation Calculator. The new Calculator is designed […]
A small number of dedicated professionals have been toiling away for the past couple of years trying to create the Global Legal Entity Identification System (GLEIS). As progress is slowly made, many financial industry participants struggle to understand the acronyms, governance, and impact of what global regulatory bodies are trying to bring to […]