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Alacra Reference Data Alert – Inside the LEI

Alacra has been integrating the pre-LEI data files from the endorsed pre-LOUs as the data has been published. In response to customer demand we have been adding these entities to the Alacra Authority File, our reference database that previously contained only rated, regulated and listed companies globally. Although there are many use cases for the […]

M&A Activity – How Did 2013 Shake Out?

Early this year I posted 10 Forecasts for 2013 M&A Activity.  Here are just a few of the more bullish quotes from the prognosticators:

“The fundamentals for sustained M&A activity on 2013 are solid…”

“…these numbers (2012) should rebound behind the strength of strategic buyers, the emerging markets, and the energy sector.”

“…a unique set of […]

By |December 18th, 2013|Alacra, Information Industry, Posts|

The Periodic Table of FATCA Acronyms

Confusion still abounds about FATCA terms

Periodic-Table-of-FATCA-Acronyms
Increasingly, Alacra Compliance Enterprise customers and prospects are asking us to facilitate the inclusion of FATCA client classification information in their onboarding […]

By |June 12th, 2013|Alacra, AML and Compliance, Information Industry, Posts|

CICI Self-Registration Data Requires Cleaning and Vetting

We responded to a number of calls following our post last week highlighting the challenges faced by the CICI Utility with regard to self-registration. One call came from a senior executive of the DTCC, who carefully explained that many of the data issues we highlighted were the result of business rules being applied to […]

Weaknesses in CICI Self-Registration Process Pose Challenges for Reference Data Files

Last week we fielded several phone calls from clients asking about what other challenges the CICI Utility might be facing in addition to the duplicates and empty fields that were described in a recent article from Waters Technology: Data Validator Criticizes DTCC’s Identifier Database. We’re major supporters of the Legal Entity Identifier […]

By |May 2nd, 2013|Alacra, Information Industry, Posts|

Ongoing Monitoring–Best Practices

All the financial institutions we’ve worked with have deployed a transaction monitoring system that alerts the bank to suspicious activity. Sophisticated financial institutions have entities exhibiting unusual activity automatically sent to the due diligence team for review. This review results in the KYC information for that entity being updated.

Firms also monitor or refresh their customer […]

By |April 1st, 2013|Alacra, AML and Compliance, Business & Finance, Information Industry, Posts|

Sanctions Lists, PEPs, and Database Checks–Best Practices

Again, communication is critical. Those firms that utilized electronic communication from the relationship manager to the onboarding team had better processes overall. In some cases searches of various databases (sanctions lists, PEPs, adverse news) were run automatically on the verified customer name from the relationship management system. This eliminated re-keying of data, which is a […]

By |March 28th, 2013|Alacra, AML and Compliance, Business & Finance, Information Industry, Posts|

Sanctions Lists, PEPs, and Database Checks–Regulatory Highlights

Nowhere in the regulations are financial institutions instructed to use a proprietary database or conduct a proscribed level of research when onboarding a new customer or counterparty. Yet this is where the bulk of the money is spent: in database costs, workflow tools, and investigative labor. As this is where the money is, we have […]

The Effect of M&A Activity on Reference Data

Although M&A activity picked up late in 2012 and in the first quarter of 2013, overall 2012 was a slow year, as was the entire post-financial crisis period.  Despite low interest rates and huge amounts of cash on corporate balance sheets, M&A activity over the past few years has been subdued.

By |March 22nd, 2013|Alacra, Business & Finance, Information Industry, Posts|

Best Practices in Beneficial Ownership Identification

Identifying beneficial owners is the most difficult part of the onboarding process. In the seven years Alacra has been providing compliance solutions, we have seen the beneficial ownership requirements increase dramatically. Early on, only owners of 50% or greater needed to be identified. Then for several years most institutions were collecting information on 25% and […]

By |March 21st, 2013|Alacra, AML and Compliance, Business & Finance, Information Industry, Posts|