Luxembourg
01 March 2017
Reporter: Stephanie Palmer

ITAS: Regulatory burden reaches transfer agency


Transfer agents need to start paying more attention to the regulatory challenges affecting their customers, according to panellists at ITAS in Luxembourg.

When asked which area of business is likely to be affected by regulation in the next few months, William Gilson, an independent director, suggested that, actually, “the transfer agency world has had it relatively easy in the last few years”.

Gilson pointed specifically to the issue of data regulation, saying this is “fairly critical” for transfer agents as “I don’t think that the transfer agency world is set up to forget a client”.

The audience of transfer agency professionals was warned that, although these regulatory issues generally affect asset managers more, they are currently setting up teams to tackle the challenges, and those teams are in the process of drawing up due diligence questionnaires, for transfer agents. Gilson said: “You’re going to be inundated.”

He warned that transfer agents will soon have to answer a lot of questions, and added: “It’s up to you whether you want to do it efficiently or not.”

Nirvana Farhadi, CEO of FFS-RegTech Services, agreed that data requirements will have “a key impact on the industry”, suggesting that firms need to consider where, and who, they are going to get their data from.

These requirements are not going to subside, she said, and firms should look at what they have in place and use technology to help build sufficient and robust infrastructure that can reduce costs and increase efficiency.

More Industry news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Tadawul initiates new measures for market efficiency
16 January 2018 | Riyadh | Reporter: Jenna Lomax
The Saudi Stock Exchange Tadawul has implemented new measures in an effort to raise market efficiency, boost investor access, security and liquidity
SWIFT and CSDs join forces on proxy voting DLT
15 January 2018 | Brussels | Reporter: Jenna Lomax
SWIFT and seven CSDs have partnered to explore how distributed ledger technology could be implemented in proxy voting and for digital assets
Lombard Risk share prices soars after Vermeg takeover offer
12 January 2018 | London | Reporter: Zsuzsa Szabo
Dutch financial software provider Vermeg has set its sights on acquiring Lombard Risk with a £52.08 million cash for shares offer
SS&C Technologies snaps up DST
11 January 2018 | Connecticut | Reporter: Becky Butcher
SS&C Technologies Holdings has entered into an agreement to acquire DST
ESMA delays publication of DVC data
10 January 2018 | Paris | Reporter: Jenna Lomax
ESMA has delayed the publication of the data on the DVC mechanism for January to avoid creating an unlevel playing field
MiFID II has shrunk equity research by $300 million, says study
10 January 2018 | Connecticut | Reporter: Jenna Lomax
Greenwich Associates estimated that the 2017 European research/advisory pool currently stands at $1.35 billion
Apex snaps up M.M.Warburg & Co
09 January 2018 | Bermuda | Reporter: Becky Butcher
Apex Group have acquired M.M.Warburg & Co’s asset management and servicing business in Luxembourg
More Industry news