Solutions
New legislation designed to strengthen Jersey’s capabilities to fight financial crime was introduced last week.
The amendments to the Proceeds of Crime (Jersey) Law, approved by Jersey’s government on 26 June, are designed to ensure Jersey complies with the recommendations highlighted in the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and Financing of Terrorism (MONEYVAL) report, published in 2016.
Overall, the two amendments are focused on strengthening Jersey’s ability to secure higher volumes of prosecutions and confiscations in cases of financial crime. Specifically, they widen the definition of ‘criminal property’ and change the
Saxo has introduced a new pricing structure which will see new clients save up to 40 per cent on key products compared to the nearest competitor, as well as benefiting from Saxo’s unique multi asset trading range and service.
Saxo Capital Markets UK Ltd. (Saxo), the UK subsidiary of Saxo Bank A/S, the leading fintech specialist focused on multi-asset trading and investing, today announces that it has launched a highly competitive pricing structure for new UK clients. The new structure will place Saxo firmly as one of the most competitive brokers in the market for a range of products.
March this year saw Robert Mirsky, then Global Head of Hedge Funds at KPMG, become Global Head of Asset Management and UK Managing Partner at EisnerAmper.
Mirsky was also charged with opening EisnerAmper’s first UK office and now presides over a small but fast-growing team. The firm is better known in the US, where it is the fifth largest financial services practice, and offers a full suite of accountancy, audit, tax advisory and business advisory services to clients operating in a wide spectrum of business sectors and industries.
Staff globally total 1,500, including 180 partners and principals. The Financial Services
Lendingblock, an institutional platform for collateralised crypto-currency lending, has announced Genesis Capital as the latest participant in its Institutional Advisory Group.
As part of the advisory group, Genesis Capital, will work with Lendingblock to ensure that the platform meets the complex needs and high standards demanded by institutional users.
“We’re delighted to be working with Genesis, who are one of the largest and most respected pioneers of the digital asset economy,” says Steve Swain (pictured), CEO of Lendingblock. “We are building the secured financing backbone of this new economy from the ground up, so the active support of our advisory group is absolutely critical
The Depository Trust & Clearing Corporation (DTCC) is enhancing its Global Trade Repository service (GTR) to support of the next phase of the Monetary Authority of Singapore’s (MAS) derivatives trade reporting requirements which are scheduled to take effect on 1 October 2018.
Under the new regulations, firms will be required to report their equities and commodities transactions to MAS, in addition to the credit, interest rate and FX asset classes which already fall under the regime.
All firms that are in scope for the next phase of MAS’ derivatives trade reporting regulatory requirements will need to start submitting
Founded in 2002, the Chartered Alternative Investment Analyst Association (CAIA) has gone from strength to strength in the alternative investment education arena.
William Kelly (pictured), CAIA CEO, joined in 2014 and declares that, while it’s been an interesting run, the value proposition of alternatives is alive and well.
Kelly came from the long only buy side sector but his belief in diversification and the need to make alternatives less opaque through education found him joining the CAIA organisation which now has a global footprint in 90 countries with almost 10,000 CAIA members.
CAIA defines alternatives as hedge funds;
CLS’s new post-trade monitoring and reporting tool, CLSTradeMonitor, is now live with its first asset management clients, including Mesirow Financial and Mountain Pacific Advisors, LLC.
CLSTradeMonitor improves operational efficiency, provides transparency, and reduces operational risk for third parties currently settling in CLS. The service delivers a real-time consolidated view of the match status details for all trades submitted to CLS. For asset managers, CLSTradeMonitor enables executed FX trades to be efficiently managed across all their custodian banks. Trade status details are available across all CLSSettlement providers and counterparties.
CLSTradeMonitor was built in combination with CLSNet, a bilateral payment netting
European DataWarehouse (ED) has selected Publicis.Sapient as its transformation partner to become the first securitisation repository under the new EU regulation for Simple, Transparent and Standardized (STS) securitisations, expected to take effect in 2019.
ED is the designated European repository for loan-level data stemming from Asset Backed Securities (ABS). It was established under European Central Bank’s loan-level initiative in 2012. Publicis.Sapient has been the implementation partner of ED since the very beginning. Today more than 500 issuers, investors, central banks and other data users utilise ED’s data infrastructure.
The European Securities and Markets Authority (ESMA) is changing
StatPro Group, an AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, has acquired ODDO BHF’s regulatory risk services bureau, for an undisclosed sum in cash.
The acquisition adds a full, managed service for regulatory risk reporting capability, which will use StatPro’s existing Revolution platform, expanding the service delivery options for StatPro clients. It also adds ten new clients to StatPro’s client base in Germany and Luxembourg. The service will be marketed by StatPro throughout the EU.
StatPro expects annual revenue levels for the acquired service to remain broadly similar for
CUSIP Global Services (CGS) and Templum Markets are teaming up to bring industry standard CUSIP identifiers to the tokenised securities marketplace.
Templum Markets is a subsidiary of Templum Inc, a fintech and blockchain-focused holding company that operates at the intersection of innovative technologies and the modernisation of securities.
Under the agreement, CGS will issue unique CUSIP identifiers for all primary issuance and secondary transactions, known as Tokenised Asset Offerings (TAOs), conducted on the Templum Markets’ Platform. Built on the standard nine-digit CUSIP taxonomy that is ubiquitous in equity and fixed-income markets, the identifiers will be used to help standardise
