Patriot Act Point of Pain: Reference Data

COMPLIANCE

The financial industry is expected to spend more than $10 billion to comply with the Patriot Act over the next three years. And at the heart of the issue is the data.

Publicly, firms have been quick to throw their support behind the USA Patriot Act. Following Sept.11, no one, of course, wants to appear unpatriotic. But privately, firms are beginning to complain that implementing measures to comply with the act is no easy feat, especially given the speed in which firms are expected to undertake it

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A rough race begins: Industry faces uphill transition to T+1 settlement

With T+1 compliance set to begin next May, firms will likely be burdened by reduced IT budgets, existing legacy systems and manual processes over the next 15 months. So, while faster settlement will help innovate the middle and back office, some argue industry needs a longer timeline.

Build versus buy: How to evaluate your software

For as long as the investment management industry has used software, there has been a debate about whether asset managers should build or buy their tools. Jonas Svallin, global head of quantitative research and product development at FactSet, argues that…

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