Industry News

Financial services have needed to put an increased focus on environmental, social, and corporate governance (ESG) over recent years and 2024 looks set to only add to this.

In a significant development reported in October 2023, the United Arab Emirates (UAE) is on the cusp of being removed from the Financial Action Task Force's (FATF) "grey list."

In the realm of sustainability, the Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS) are currently at the forefront of discussions among professionals. These new mandates require EU-based companies to adopt comprehensive reporting protocols, adhering to the European Financial Reporting Advisory Group's (EFRAG) stringent guidelines. This shift has propelled the need for robust solutions to achieve compliance seamlessly.

The asset servicing industry is currently navigating through turbulent waters, marked by escalating fee pressures, rapid technological advancements, stringent regulations, and a volatile macroeconomic climate.

In the intricate world of FinTech, the geopolitical landscape plays a pivotal role in shaping compliance and regulatory frameworks. The aftermath of the Russian...

The Inland Revenue Authority of Singapore (IRAS) has released the third edition of the Common Reporting Standard (CRS) e-Tax Guide on January 12, 2024. The guide is instrumental for Singaporean Financial Institutions (SGFIs), outlining the nation's adoption of CRS, and providing crucial guidance on compliance obligations under the CRS framework.

The U.S. Securities and Exchange Commission (SEC) introduced a significant regulatory update on August 24, 2023, impacting private fund advisers through the adoption of the Private Fund Adviser Rules. This regulatory shift comprises several key components aimed at enhancing transparency and safeguarding investor interests. Among these, the Adviser-led Secondaries Rule and the Annual Fund Audits Rule stand out for their direct impact on fund management practices, accompanied by the amendment to the compliance review documentation requirements.

On the 6th of February, 2024, the Securities and Exchange Commission’s (SEC) Division of Investment Management unveiled a new Frequently Asked Question (FAQ) aimed at clarifying the obligations surrounding gross and net Internal Rates of Returns (IRR) in the private markets arena. ACA Global, a GRC solution developer, has offered some guidance highlights the SEC's commitment to ensuring transparency and comparability in performance reporting.

European Parliament, in a bid to revolutionise fund transfers, has greenlit new regulations aimed at ensuring immediate transfers to retail customers and businesses across the EU.

In today's competitive business landscape, sustainability is not just a buzzword but a critical component of corporate strategy. Crafting a sustainability report that not only meets compliance but also captivates and informs is crucial.