M&G Investments, part of M&G plc, has selected Bloomberg as its data provider to support compliance decision-making and portfolio and risk management.
Through the adoption of Bloomberg’s sanctions data solution, M&G Investments will have access to Bloomberg Enterprise Data’s dataset of legal entities and financial instruments as well as its Data License Plus (DL+), Bloomberg’s data management offering.
Launched in May 2020, DL+ is a managed service that aggregates a client’s Bloomberg data into a single dataset, enabling users to explore and interact with data licence data.
The announcement comes after M&G Investments selected Bloomberg Data Management Services (DMS) as its ESG data manager in January.
Bloomberg’s DMS solution is designed to simplify and support pre-trade compliance with sanctions regulations, as well as portfolio monitoring and counterparty risk.
Brad Foster, global head of enterprise data content at Bloomberg, says: “In today’s global marketplace, firms must effectively navigate complex sanctions regimes in order to avoid significant penalties, however a lack of transparency into entities and securities that may be impacted by sanctions, combined with constantly changing regulations, make it challenging to comply.”
Valeria Locatelli, group director of financial crime compliance at M&G, comments: “One of our greatest investment compliance hurdles has been to implement a robust trade screening process that not only blocks unauthorised securities trading, but also alerts us in a timely fashion when a security that is held is impacted by sanctions.”
“Bloomberg’s solution provides, manages and integrates sanctions data regarding financial instruments so we can meet regulatory requirements without a heavy operational burden.”
