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Compliance

Compliance:  Opening a New Bank Account? You May Have to Wait Six Months

Anna Maxxone, Global Head of KYC Managed Services at Thomson Reuters recently gave an interview to CFO Innovation’s Cesar Bacani about how CFOs and treasurers can speed up the process of opening and operating bank accounts, understand the KYC (Know Your Customer) requirements banks are following and other issues. Ann quoted a recent study which has has found that 53% of ... Read More »

Compliance Issues, Fines a Growing Concern in Credit

Fines and sanctions are on the rise for companies in B2B transactions, not just banks, according to the National Association of Credit Management. Among the fastest growing concerns in business today, domestically and internationally, is that of compliance violations.  This week’s news that Barclays drew two fines – $62 million (USD) by the UK’s Financial Conduct Authority and $15 million ... Read More »

Thomson Reuters to Outsource IT Services

Thomson Reuters Corp. announced that it plans to hire a technology services company to manage many of its information technology services. The company said most affected technology workers will transition to the tech services firm, a common business practice, though companies often use such a change to reduce staff and lower other costs.  The third-party IT vendor will be selected ... Read More »

Thomson Reuters Launches Solvency II Data Service

Thomson Reuters announced the launch of a dedicated Solvency II Data Service available through Thomson Reuters DataScope Select.  The solution is designed to help insurers, asset managers, fund administers and custodians meet capital adequacy and disclosure obligations under Solvency II. Solvency II requirements are placing added pressure on institutions to have a deeper understanding of their current and future trading ... Read More »

MSCI Completes Acquisition of GMI Ratings

MSCI Inc. (NYSE:MSCI), a leading provider of investment decision support tools worldwide, announced today that it has completed the acquisition of GMI Ratings through its subsidiary MSCI ESG Research Inc. GMI Ratings is a provider of corporate governance research and ratings on over 6,000 companies worldwide. Clients of GMI Ratings include leading institutional investors, banks, insurers, auditors, regulators and corporations seeking to ... Read More »

Veda Acquires KMS Data in NZ Delivering on its Growth Strategy for Marketing Services

Veda announced the acquisition of New Zealand data and analytics company KMS Data.  The investment is part of Veda’s growth strategy for its Marketing Services division, Inivio, and provides a platform to extend Australian solutions to the New Zealand market. KMS Data will be re-named Inivio New Zealand. KMS Data is a key player in the New Zealand consumer marketing ... Read More »

Customer Centricity Success Story: Reducing Compliance Risk

FICO shares the story of a client, which it refers to as Bank C, which was fined by regulators for misconduct in selling fee-based extra services to new account holders.  Moreover, the light shined on this problem made it clear that over-zealous sales activities weren’t the institution’s only vulnerability to fines and reputational damage from regulatory noncompliance. Bank C executives ... Read More »

How to Mitigate Risk and Ensure Compliance: Govern Your Documents Accordingly

White Paper concerning the management of risk, improving compliance and delivering business value with effective information governance Too often, organizations hear “information governance” and think “records management” and “compliance.” In today’s information-rich—sometimes information-saturated—business environments, information governance must do more, helping to also manage risk, reduce costs, drive operational excellence and provide strategic and decision-making value. In this paper, OpenText and ... Read More »

IMS Health to Acquire Cegedim’s Information Solutions and CRM Businesses

IMS Health (NYSE:IMS) announced its intention to acquire certain Cegedim information solutions and Customer Relationship Management (CRM) businesses for €385 million (approximately$520 million) in cash. Cegedim is a global technology and services company specializing in healthcare.  The proposed transaction includes Cegedim’s CRM solutions that help life sciences clients in 80 countries drive sales effectiveness, optimize marketing programs across multiple channels and mitigate regulatory compliance ... Read More »

Creditreform Germany Reports 2013 Revenues Flat

Creditreform Germany reported domestic revenues of Euro 491 million for 2013 versus Euro 493 in 2012 (-.4%).  Worldwide revenues were Euro 547 million in 2013 versus Euro 551 million in 2012 (-.7%).  Unfortunately Creditreform no longer provides a revenue breakdown for its subsidiaries.   Without a breakdown of its services it is difficult to determine which services grew and which are ... Read More »

Global Corruption & Anti-Bribery

Preparing for compliance with evermore punitive bribery and anti-corruption legislation brings with it added business benefits Ethics and compliance experts NAVEXGlobal have issued a white paper stating that he European Commission and UK Government are getting tough on corruption with a crackdown that more than matches efforts by US authorities. There has never been a time when compliance with ethical ... Read More »

Consequences of Inadequate Compliance

The District Court of Munich (Germany) has sentenced a former board member of a German company to pay EUR 15 million to his former employer because he has failed to install a functioning compliance management system (LG München I, judgment v. 12.10.2013 – 5 HKO 1387/10). The former board member was made indirectly responsible that he had ignored the development ... Read More »

Wolters Kluwer Financial Services Introduces Foreign Asset and Liability Compliance Solution for China

Wolters Kluwer Financial Services announced the availability of its new solution to help financial institutions operating in China manage offshore assets and liabilities as well as trade reporting. Wolters Kluwer Financial Services’ foreign assets and liability reporting, or FAL, system can help institutions operating in China comply with the State Administration of Foreign Exchange’s latest rules. SAFE’s rules, designed to ... Read More »

Thomson Reuters forms Strategic Relationship with ONESOURCE

Thomson Reuters announced that it has formed a strategic relationship with Avention to give users of its ONESOURCE Transfer Pricing software access to Avention’s industry report module. ONESOURCE Transfer Pricing recognizes the need for comprehensive documentation in the wake of increased regulations worldwide. To ease the burden of  this process, ONESOURCE provides a full suite of public and private data, ... Read More »

Wolters Kluwer Q1 2014 Revenue Up 2% (constant currency) Down 1% (actual exchange rate)

Wolters Kluwer, a leader in professional information services, affirms its full-year 2014 guidance and reports first-quarter revenues up +2% in constant currencies and up +2% organically.   Leading, high growth businesses continue to drive performance with digital subscriptions produced good organic growth; while transactional cyclical revenues declined. Nancy McKinstry, CEO and Chairman of the Executive Board, commented:  “Our leading, high growth ... Read More »

Intapp Acquires The Frayman Group

Intapp, Inc. announced the acquisition of The Frayman Group (TFG), a company offering risk management software for law firms.  With this move, Intapp further extends its position as the leading provider of risk management software for the legal industry, offering broadly adopted products that streamline new business intake, conflicts management, information security and professional compliance. TFG – An Intapp Company:  ... Read More »