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GDPRlockDEX Regulatory Suite for GDPR
On May 25 2018 the General Data Protection Regulation (GDPR) will come into effect. The GDPR gives every EU citizen the right to know and decide how personal data is being used, stored, protected, transferred and deleted.
DEX Data Explorers introduces DEX Regulatory Suite for GDPR. This module is part of the DEX Regulatory Suite, which offers solutions of all kinds of regulations.

With DEX RS for GDPR you can:

  • Document which privacy-sensitive information you have in your organisation
  • Define your work-processes, privacy organisation and measures
  • Produce privacy reports
  • Perform "the right to forget" process
  • Create data processing agreements

You can find more information about DEX Regulatory Suite for GDPR in this whitepaper.

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MIFID ii implementation considerations - a survey

DEX partner Addition Knowledge House performed a survey on MIFID ii implementation aspects. The full article in Dutch can be found here: http://bit.ly/2mKD1uY,  an English abstract can be found here: http://bit.ly/2ELMvwA.

Sven

MIFID ii at Hof Hoorneman Bankiers

January 4 was the first day Hof Hoorneman Bankiers, like other financial institutions all over Europe, had to report their transactions to the regulator underthe new MIFID ii regulation. Hof Hoorneman Bankiers is located in the Netherlands and is an independent bank with full banking license. The bank has been an investment manager since 1989. Hof Hoorneman has 60 employees and the managed assets are approximately € 2.1 billion.

Sven Schuling, IT Director at Hof Hoorneman, shares some insights about Hof Hoorneman's MIFID ii implementation.

What does Hof Hoorneman have to do under MIFID ii?

Hof Hoorneman has to comply to the new rules for Investor Protection, Record Keeping and Transaction Reporting. This means much more information has to be stored about investment decisions, clients and the actual trades. Existing workflows have to be changed for this.

How did you prepare for MIFID ii?

KPMG helped us by identifying the impact and the gaps, we started with this in 2016. The technical implementation was done using our current systems. Information Builders' WebFocus was used for gathering all information. We've implemented transaction reporting using DEX Regulatory Suite of DEX Data Explorers.

What was the impact for clients, organization and IT?

A lot of processes had to be changed, and we had to collect LEI's and ID's from our clients.

What were the biggest challenges?

First of all it was hard to get all requirements clear, because it is so much. The next challenge was gathering all client data, like LEI-codes and ID-cards.

Furthermore it was difficult to establish general rules for which financial instruments had to be reported. We've solved this by recording per ISIN-code if this instrument has to be reported or not.

The whole market is used to completing processing of trades on day+2, but MIFID transactions have to be reported on day+1. This causes some challenges too.

Did you succeed in reporting in time?

Of course we did.

How do you feel about the way things went?

This has been a very time and resources-consuming operation, but we succeeded.

What are the next challenges for you?

New regulations we have to implement are the Deposit Guarantee Scheme and GDPR. Furthermore we would like to spend more time on servicing the business!

Read more at MIFIDii at Hof Hoorneman.

DNBLogoSocial Economic Reports in DEX RS
DEX Data Explorers launches DEX Regulatory Suite for Social Economic Reports (SE). DEX RS for SE collects the information needed for reporting to the regulator, performs the calculations and validations and submits the reports and interface files to the regulator. 
DEX RS also has solutions for CRD iv, Solvency2, MIFID ii, Deposit Guarantee Scheme, the Dutch DRA reports, SFTR, AnaCredit and Residential Real Estate. The combined solutions are a comprehensive regulatory suite for your organisation.

AnaCredit

AnaCredit and Residential Real Estate in DEX RS

DEX Data Explorers launches DEX Regulatory Suite for AnaCredit and Residential Real Estate, with all reports, validations and interfaces necessary for your reporting obligations. DEX Regulatory Suite now has solutions voor COREP, FINREP and other banking reports, Solvency, MIFID ii, AnaCredit, RRE, DRA, Deposit Guarantee Scheme and Social Economic Reports.

Deposit Guarantuee Scheme in DEX RS
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DEX Data Explorers launches DEX Regulatory Suite for the Deposit Guarantee Scheme (DGS), the regulation which guarantees (partial) reimbursement of deposits in case of a bank failure. Dutch National Bank is currently working with Dutch banks to achieve a faster payout by the DGS. The objective is to be able to reimburse depositors within seven working days by 2019. Banks are now preparing for the implementation of DGS. DEX Regulatory Suite for DGS collects the information needed for reporting to the regulator, calculates the guaranteed amounts, performs the validations and submits the reports and interface files to the regulator. DEX Regulatory Suite for DGS is part of the DEX Regulatory Suite, which among others also has solutions for CRD iv, Solvency2, MIFID ii, SFTR, AnaCredit, Residential Real Estate and Social Economic Reports.