News
CFA Institute Names Dana Day as Managing Director, EMEA
Published
1 year agoon
By
admin
Day brings a deep understanding of the industry to CFA Institute
CFA Institute, the global association of investment professionals, has named Dana Day as Managing Director, EMEA, effective 23rd May.
Day will focus on advancing the reputation and mission of CFA Institute in the EMEA (Europe, Middle East, and Africa) region, reporting to Paul Moody, Managing Director, Global Partnerships & Client Solutions, and will be based in London. In this role, Day will be responsible for delivering value to CFA Institute stakeholders and constituents by building and maintaining deep relationships with financial institutions, CFA societies, and universities. Additionally, Day will promote CFA Institute offerings, products, and services into EMEA markets.
“Dana’s deep understanding of CFA Institute, having previously spent more than five years with us, and more importantly her expertise in strategic relationship management means that she is well suited for this position. She has a passion for the EMEA region and will be instrumental in leading this region and its many stakeholders,” said Paul Moody, Managing Director, Global Partnerships & Client Solutions at CFA Institute.
Day’s experience includes some 22 years in global business development and strategic relationship management roles across all investment distribution channels, including private client, institutional, intermediaries, and strategic partners. She was most recently executive committee member at 20-20 Trustee Services Limited, and Director of Business Development at Cardano Group. Prior to her time at CFA Institute from 2013 to 2018, she was Director of Business Development at Aviva Investors. Other roles include positions at AllianceBernstein in London and New York.
Day holds a bachelor’s degree in Psychology/Sociology from Cornell University and has also completed the Harvard Business School Executive Education Investment Management Workshop.
“I am very excited to be joining CFA Institute at a time of intense change and growth in our industry,” said Dana Day. “I have been a passionate supporter of the mission of CFA Institute and its global community of ethical and highly educated investment professionals. I am delighted to return to CFA Institute in a new position, one that enables me to leverage the power of our inter-connected community to make a genuinely positive impact on the industry and beyond.”
News
BioCatch Strengthens Collaboration with Microsoft Cloud for Financial Services
Published
1 day agoon
June 8, 2023By
admin
Collaboration Delivers End-to-End Intelligent Banking Cloud Platform with Online Fraud Detection Powered by Next-Generation Behavioural Biometrics
BioCatch, a global leader in fraud detection, today announced the global expansion of its behavioural biometric intelligence solutions in collaboration with Microsoft and is now available as an offering for Microsoft’s Cloud for Financial Services (FSI Cloud).
Microsoft Cloud for Financial Services provides capabilities to deliver differentiated experiences, empower employees, and combat financial crime while facilitating security, compliance, and interoperability.
Working with Microsoft since 2011, BioCatch provides effective and comprehensive anti-fraud support, and through Microsoft Cloud for Financial Services, BioCatch can extend further protections for banks transitioning to cloud-based operations for a protected, frictionless digital experience for consumers.
BioCatch and Microsoft reliably enable consumer protections against fraud through BioCatch’s behavioural biometrics software and Azure’s intelligent banking platform, underscoring the impact the solution alignment has had with financial institutions for over a decade.
“BioCatch and Microsoft have been great partners for us in our mission to protect M&T banking customers from harmful fraud attacks,” says Aaron Steinitz, Director of Enterprise Fraud Policy and Governance, M&T. “The visibility we get into the data by leveraging BioCatch’s technology via Microsoft Azure enables our fraud teams to swiftly address complex fraud attacks and reduce manual reviews, giving our customers better protection and an improved experience.”
“We are excited to continue working with Microsoft to provide behavioural biometric cloud-based fraud protection solutions for financial institutions looking to reduce risk for their cloud operations,” said Eyran Blumberg, BioCatch COO. “As banks and fintech businesses take their operations to the cloud, threat actors looking to exploit cloud vulnerabilities and scam the consumer become a larger problem. BioCatch is proud to provide the necessary and effective solutions for financial institutions to continue growing in the right direction, with the important understanding that their consumer accounts are kept safe.”
One of the key elements of BioCatch’s technology now being available for Microsoft Cloud for Financial Services is the ability for financial services organisations to purchase BioCatch’s solutions through Azure Marketplace. This accessibility enables them to seamlessly combine their transition to cloud-based financial operations with a proven behavioural biometrics solution that can analyse billions of sessions per month for its users. Through this, Azure provides enhanced risk management and protection for customers through a seamless user experience.
“We’re pleased that BioCatch is tapping into the power of Microsoft Cloud for Financial Services to help financial institutions unlock business value and deepen customer relationships,” said Bill Borden, Corporate Vice President, Worldwide Financial Services, at Microsoft. “We look forward to the enhanced opportunities this will bring to our joint customers, helping empower fraud and risk teams with behavioural biometric intelligence to act quickly while also giving consumers a safer and frictionless digital banking experience.”
BioCatch’s fraud prevention solution also keeps financial business operations in compliance with protection measures and digital safety requirements. With this, BioCatch’s behavioural biometrics solution enables financial institutions that use Azure to streamline fraud detection capabilities with global cloud scaling, keeping pace with the needs and demands of any cloud strategy financial institutions seek to deploy in Azure.
Business
One year until EMIR Refit: how can firms prepare?
Published
7 days agoon
June 2, 2023By
admin
Leo Labeis, CEO at REGnosys, discusses everything that financial institutions need to know about EMIR Refit and how they can prepare with Digital Regulatory Reporting (DRR)
There is now less than a year until the implementation date for the much-anticipated changes to the European Markets Infrastructure Regulation (EMIR). The amendments, which are set to go live on 29 April 2024, represent an important landmark in establishing a more globally harmonised approach to trade reporting.
Despite the fast-approaching deadline, concerns are growing around the industry’s preparedness, with a recent survey from Novatus Advisory finding that 40% of UK firms have no plans in place for the changes, for instance.
Much of the focus in 2022 was on implementation efforts for the rewrite of the Commodity Futures Trading Commission’s swaps reporting requirements (CFTC Rewrite), which went live on 5 December. Both the CFTC Rewrite and EMIR Refit are part of the same drive to standardise trade reporting globally. While EMIR Refit was originally anticipated to roll out first, implementation suffered from repeated delays to its technical specifications, in particular the new ISO 20022 format. The ISO 20022 mandate was eventually excluded from the first phase of the CFTC Rewrite, hence the earlier go-live date.
In parallel, the Digital Regulatory Reporting (DRR) programme has emerged as a key driving force in helping firms adapt to continually evolving reporting requirements. Having participated in the DRR build-up for their CFTC Rewrite preparations, how can firms leverage these efforts to comply with EMIR Refit in 2024?
The drive to standardise post-trade

Leo Labeis
To understand the new EMIR requirements, it is important to first look at the two main pillars in the global push to greater reporting harmonisation.
The first is the Committee on Payments & Market Infrastructures and International Organization of Securities Commission’s (CPMI-IOSCO) Critical Data Elements (CDE), which were first published in 2018 to work alongside other common standards including the Unique Product Identifier (UPI) and Unique Trade Identifier (UTI). These provide harmonised definitions of data elements for authorities to use when monitoring over the counter (OTC) derivative transactions, allowing for improved transparency on the contents of the transaction and greater scope for the interchange of data across jurisdictions.
The second is the mandating of ISO 20022 as the internationally recognised format for reporting transaction data. Historically, trade repositories required firms to submit data in a specific format that they determined, before applying their own data transformation for consumption by the regulators. The adoption of ISO 20022 under the new EMIR requirements changes that process by shifting the responsibility from trade repositories to the reporting firm, with the aim of enhancing data quality and consistency by reducing the need for data processing.
Preparing for the new requirements with DRR
DRR is an industry-wide initiative to enable firms to interpret and implement reporting rules consistently and cost-effectively. Under the current process, reporting firms create their own reporting solution, inevitably resulting in inconsistencies and duplication of costs. DRR changes this by allowing market participants to work together to develop a standardised interpretation of the regulation and store it in a digital, openly accessible format.
Importantly, firms which are using the rewritten CFTC rules which have been encoded in DRR will not have to build EMIR Refit from scratch. ISDA estimates that 70% of the requirements are identical across both regulations, meaning firms can leverage their work in each area and adopt a truly global strategy. DRR has already developed a library of CDE rules for the CFTC Rewrite, which can be directly re-applied to EMIR Refit. Even when those rules are applied differently between regimes, the jurisdiction-specific requirements can be encoded as variations on top of the existing CDE rule rather than in silo.
Notably the UPI, having been excluded from the first phase of the CFTC Rewrite roll-out, is mandated for the second phase due in January 2024. DRR will integrate this requirement, as well as others such as ISO 20022, and develop a common solution that can be applied across the CFTC Rewrite and EMIR Refit.
As firms begin their own build, the industry should work together in reviewing, testing and implementing the DRR model. Maintaining the commitment of all DRR participants will strengthen the community-driven approach to building this reporting ‘best practice’ and serve as a template for future collaborative efforts.
Planning for the long-term
Although the recent CFTC Rewrite and next year’s EMIR Refit are centre of focus for many firms, several more G20 regulatory reporting reforms are expected over the next few years. These include rewrites to the Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS) and Hong Kong Monetary Authority (HKMA) derivatives reporting regimes, amongst others.
Firms should therefore plan for the entire global regulatory reform agenda rather than prepare for each reform separately. Every dollar invested in reporting and data management will go further precisely because it is going to be spread across jurisdictions, easing budget constraints.
Looking ahead, financial institutions should establish a broad and long-term plan is to learn from their CFTC Rewrite preparation and how DRR can be positioned in their implementation. For example, firms should ask themselves which approach to testing and implementing DRR works best: via their own internal systems or through a third-party? Firms should review what worked well in their CFTC Rewrite implementation and apply successful methods to EMIR Refit. Doing so will enable firms to have a strong foundation for future updates in the years to come.
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