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DTCC Issues Proposal To CPMI IOSCO For Global Data Harmonization - Recommends That The Industry Focus On Harmonizing Roughly 30 Credit Derivatives Fields Across Trade Repositories - Fields Deemed Critical To Financial Stability And Systemic Risk Analysis

Date 17/06/2015

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, issued its recommendations on global data harmonization to the CPMI IOSCO Harmonization working group today, detailing a proposed path towards a global data harmonization, with credit derivatives identified as the first step. The approach involves harmonizing approximately 30 data fields across global trade repository providers, essentially creating a global data dictionary; these fields are viewed as critical to financial stability and systemic risk analysis. This recommendation is in alignment with ISDA’s perspectives on data quality, and DTCC believes this approach provides a path forward to promote more active dialogue between CPMI IOSCO and the industry in order to address the existing reporting challenges that have emerged due to the jurisdictional implementation of reporting rules. 

SEC Announces Enforcement Action for Illegal Offering of Security-Based Swaps

Date 17/06/2015

The Securities and Exchange Commission today announced an enforcement action against a company that illegally offered complex derivatives products to retail investors.

EBA To Hold A Public Hearing On Upcoming Securitisation Report

Date 17/06/2015

The European Banking Authority (EBA) will hold a public hearing on its draft report on Qualifying Securitisation on Friday 26 June 2015 from 10.00 to 13.00 UK time. 

Bucharest Stock Exchange: Institutional Investors Met Important Romanian Companies At “Romania Investors Days”

Date 17/06/2015

Bucharest Stock Exchange (BVB) organized on June 16 – 17, 2015, the first event of the series “Romania Investors Days” in Bucharest, during which local and international investors and analysts had the opportunity to meet Romanian listed companies.

Deirdre Somers, Chief Executive Of the Irish Stock Exchange, Elected President Of The Federation Of European Securities Exchanges (FESE)

Date 17/06/2015

Deirdre Somers, Chief Executive of the Irish Stock Exchange, was elected as the new President of the Federation of European Securities Exchanges (FESE) on 17th June 2015 for a term of three years. The election was unanimously approved by the FESE General Assembly at their bi-annual meeting in Oslo today.   

Prime Minister Of The Hellenic Republic, Alexis Tsipras’ Speech In The Parliamentary Group Of SYRIZA

Date 17/06/2015

Comrades,

In a few days, we will have completed five months in government.

Five extremely high-pressure months for all of us. From the onset, we found ourselves facing both an internal and external state of affairs that we were not responsible for creating.

Testimony Of US Treasury Secretary Jacob J. Lew Before The House Committee On Financial Services

Date 17/06/2015

Chairman Hensarling, Ranking Member Waters, and members of the Committee, thank you for the opportunity to testify today regarding the 2015 annual report of the Financial Stability Oversight Council.

More Transparency For Securities Financing Transactions: European Council And Parliament Agree New Rules

Date 17/06/2015

On 17 June 2015, the Council presidency and the European Parliament reached an agreement on a regulation to improve the transparency of securities lending and repurchase transactions.

SEC Charges Investment Adviser With Fraudulently Funneling Client Assets To Companies In Owner’s Interest

Date 17/06/2015

The Securities and Exchange Commission today announced fraud charges against a Massachusetts-based investment advisory firm and its owner for funneling more than $17 million in client assets into four financially troubled Canadian penny stock companies in which the owner has undisclosed business and financial interests.

EDM Council To Perform Data Management Benchmarking Study Of The Global Financial Industry - Benchmarking Measures Capability Based On Industry-Wide Best Practices

Date 17/06/2015

The EDM Council announced the launch of a global data management benchmarking study based on the Data Management Capability Assessment Model (DCAM).  DCAM is an industry-standard best practice framework that defines the capabilities, actions and outcomes necessary to achieve proficiency in data management.   The benchmarking study will collect information from thousands of financial industry participants around the world including investment banks, commercial banks, insurance companies, consumer banks, asset managers, securities servicing firms, custodians and depositories.