• inside_market_data
  • inside_reference_data
  • buy_side_technology
  • sell_side_technology

  • Send
  • Comment
  • Send to Kindle

September 2012 - sponsored by: CUSIP Global Services, SIX Financial Information

Click here to download the PDF

Executive Action

In Inside Reference Data's September 2011 Regulation & Standards report, the means for implementing the legal entity identifier (LEI) dominated the virtual roundtable discussion. This year, the overriding theme financial industry data executives spoke about in the roundtable is that firms are more aggressively taking steps to address regulatory compliance concerning data management.

As Rick Aiere of Credit Suisse says: "The better prepared firms...are in execution mode, focusing on delivery to ensure the compliance action meets the timelines and the information is proactively managed." He goes on to say resources are being allocated and units are being formed to work on compliance. Suresh Iyer of Nomura sees compliance work being "prioritized," adding that this means data management is a function that is getting more attention as a result.

Asked how the costs of regulatory compliance compare to the return on investment in compliance systems, the roundtable participants say spending on compliance systems is worth it, demonstrating a sentiment that is becoming more widespread in the industry. "In the long run," says Aiere, "it guards against risks due to reputational damage." And Iyer says the spending is "long overdue."

While roundtable participants were still raising LEI as the biggest compliance challenge, they also see the Foreign Account Tax Compliance Act as a concern now. Solvency II and Basel III are also reaping attention, they say. This is consistent with what Inside Reference Data has seen in its coverage so far this year, as well, and is also evident in the sampling of recent stories on pages 6-7, which show Solvency II rules being clarified and set, advances on messaging format standardization, and a call to the industry to familiarize itself with ontologies.

Click here to download the PDF

  • Send
  • Comment
  • Send to Kindle

More from Inside Reference Data

Sign-up for WatersTechnology email newsletters

Register for regular alerts to receive up-to-date news directly into your inbox

Related Articles

Latest Media


Visitor comments Add your comment


Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions Your comment will be moderated before publication

Submit your comment

NOW OPEN -- Inside Reference Data Awards 2014

For more details...

Call-for-entry and voting are now open for the 12th annual Inside Reference Data Awards 2014, which take place in New York on May 21. For more details of the criteria across the call-for-entry and voting categories that recognize industry excellence within market data and reference data click here.


Latest Whitepapers


A data-centric approach to portfolio management

A fast, flexible and reliable investment decision-making process must be based on access to accurate and consistent information throughout an organization....


Taking on Tablets: BYOD On The Trading Floor

We have truly entered the Age of Bring Your Own Device, or BYOD. And as with every new era fuelled by innovation, the new challenges are screaming for...