IMP, UnaVista team up for Mifid II/MIFIR reporting expansion (Fund Technology)

IMP, UnaVista team up for Mifid II/MIFIR reporting expansion (Fund Technology)

With less than four months until the implementation deadline for the second Markets in Financial Instruments Directive (Mifid II), IMP Consulting has joined forces with UnaVista to ensure regulatory compliance for their clients.

UnaVista is the regulatory compliance and data arm of the London Stock Exchange Group, and under the partnership will provide its User Acceptance Testing (UAT) technology for test extractions to IMP clients. According to IMP president Jane Stabile, the test extractions will ensure timely implementation of the requirements under both Mifid II and MiFIR.

UnaVista debuted regulatory reporting capabilities for the first iteration of Mifid, according to Stabile, and the company’s historical background is what led IMP towards the pairing. “Looking at someone who had a track record, that’s what we cared about,” she said.

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IMP Partners UnaVista to Prepare US Asset Managers for Mifid Shock (WatersTechnology)

IMP Partners UnaVista to Prepare US Asset Managers for Mifid Shock (WatersTechnology)

Boston-based IMP Consulting has joined UnaVista’s partner program, ahead of sweeping changes to Europe's trading rules that will impact North American buy-side firms from next year.

Jane Stabile, president of IMP, tells WatersTechnology that it went with UnaVista because the reporting specialist is owned by the London Stock Exchange Group. As such, it has been dealing with reporting requirements stemming from the Markets in Financial Instruments Directive (Mifid) since the first iteration of the rule went live in 2007.

The revised requirements of the original Mifid, which together with an accompanying regulation form a package of regulatory reform known as Mifid II, will enter into force on January 3, 2018. While targeted at European firms, Mifid II is expected to have a significant impact on US asset managers that deal with European counterparties—or those who have their own operations on the continent.

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IMP Consulting Joins the UnaVista Partner Programme as an Implementation Partner in North America

IMP Consulting Joins the UnaVista Partner Programme as an Implementation Partner in North America

IMP Consulting announced a partnership agreement with London Stock Exchange Group’s global regulatory compliance and data platform, UnaVista. IMP, a leader in trade order management and compliance system implementation, joins the world’s leading financial services and regulatory technology firms as part of UnaVista’s Partner Programme. The two firms unite under the goal of helping their clients meet the January 3, 2018 deadline for operational and regulatory compliance with MIFIR transaction reporting. 

As trade order management and compliance system experts, IMP will help North American asset managers to capture the information that they need to meet MiFID II/MIFIR reporting requirements. Under the partnership, IMP is granted the ability to create and run test programs within UnaVista’s  MiFIR UAT (User Acceptance Testing)  environment, helping to ensure a successful and on-time implementation for their mutual clients.

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Missed Our MiFID II Webinar? Watch the Recording Now!

Last Thursday, June 8th, IMP's Jane Stabile and Jon Gold joined Yanay Lehavi of PIMCO as well as the National Society of Compliance Professionals (NSCP) for a live webinar event to discuss the effects of MiFID II on buy-side asset managers.

If you missed the webinar, no need to fret! NSCP has made a recording of the entire presentation and Q&A session available on their website. Click below to get caught up on MiFID II.

Q&A: MiFID II: Client information reporting critical for U.S. managers

IMP's Jane Stabile and Jon Gold was interviewed for a Q&A about the impact of MiFID II on US asset managers. Read an excerpt:

Danielle Kane (DK): How is the EU’s Markets in Financial Instruments Directive, known as MiFID II, relevant to U.S. investment managers?

Jane Stabile, president (JS): The law applies differently based on what you do. For example, if you’re a manager and have clients that you’re trading for that reside in the EU, then all of those accounts are subject to MiFID II whether they are funds or separately managed accounts.

Other examples include if you’re an EU subsidiary, if you’re marketing cross-border products to European clients, or if you’re providing sub-advisory services even with no physical presence in Europe.

Jon Gold, managing director (JG): Even if you’re a U.S. firm trading for U.S. clients and using an EU exchange, that venue is going to ask questions about your U.S. clients because they are going to have to report that. So even if there’s no applicability to you as a U.S. firm, you will still have to provide this type of information to trade on those venues.

Click here to read the full article (subscription required)

New Regulations to Sap 5% from Manager Revenues: Study (FundFire)

IMP's Jon Gold was quoted in a FundFire article about the impact of MiFID II on US asset managers. Read an excerpt from the article:

"I think the best way to characterize [U.S. managers’ response] has been denial, and for quite some time. Denial on two bases – firstly that this is European and will not affect us, and secondly that European regulators will keep kicking the can down the road," he says. The Jan. 3, 2018 implementation date was initially set for a year prior, but delayed due to a lack of preparation.

"Right now you don’t really know what component of your commissions are going to fund research. If you’re going to claim best execution, that component of your trading costs and execution costs will have to be exposed to sunlight," Gold says.

Click here to read the full article (subscription required)

IMP Consulting to Address MiFID II Impact on US Buy Side Asset Managers During National Society of Compliance Professionals (NSCP) Hosted Webinar

IMP Consulting to Address MiFID II Impact on US Buy Side Asset Managers During National Society of Compliance Professionals (NSCP) Hosted Webinar

Yanay Lehavi, EVP at PIMCO, to join interactive discussion on what buy side firms will need to do to prepare for MiFID II regulations

IMP Consulting today announced an educational webinar on MiFID II regulation, titled, “MiFID II – US Asset Managers Brace for Impact.” The webinar, featuring Jane Stabile, President of IMP Consulting; Jon Gold, Managing Director of IMP Consulting; and Yanay Lehavi, EVP at PIMCO, will take place on Thursday, June 8, 2017 at 2:00 p.m. ET. The webinar will include a presentation followed by a question-and-answer session.

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Webinar: MiFID II – US Asset Managers Brace for Impact

Webinar: MiFID II – US Asset Managers Brace for Impact

Join Jane Stabile, President of IMP Consulting, and Yanay Lehavi, EVP, at Pacific Investment Management Company (PIMCO), on June 8th at 2pm ET for an interactive discussion on what buy-side firms will need to do to prepare for MiFID II regulations.
 
This webinar is suited for operations, traders and compliance professionals who are looking for a high-level overview of the key trading requirements, expected impact on order flows, and the implications for US Asset Managers.

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IMP Consulting Redefines the Process for Reconciling OMS Compliance Rule Libraries

IMP Consulting Redefines the Process for Reconciling OMS Compliance Rule Libraries

CLEAR™ Recon replaces a manual reconciliation process and mitigates the risk of human error for investment management firms

BOSTON MA, May 15, 2017 (GLOBAL NEWSWIRE) -- IMP Consulting, a leader in OMS implementation and compliance solutions for the asset management industry, today announced the release of CLEAR Recon as the latest addition to its growing compliance practice.

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Managers Rush to Replace Critical Fixed Income System (FundFire)

Managers Rush to Replace Critical Fixed Income System (FundFire)

Another potential chink in managers’ armor is how the data inputs and outputs related to POINT will operate under a replacement system.

"The problem at issue is when you take out POINT and plug in PORT it’s not that easy – you have all these downsteam systems that will be impacted and you have to do the proper analysis," says Valerie Villegas-Hoag, business analyst for IMP Consulting, a firm working with managers on the issue. "I think that should be a consideration in choosing the appropriate vendor alongside the functionality."

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IMP Consulting's CLEAR™ selected as a nominee for FTF News Best Compliance Solution award

IMP Consulting's CLEAR™ selected as a nominee for FTF News Best Compliance Solution award

IMP Consulting is excited to announce that CLEAR™ has made the shortlist of nominees for Best Compliance Solution as part of the 7th Annual FTF News Technology Innovation Awards.

Voting opens on March 1st. We value your support and appreciate your vote!

View the full list of award nominees here.

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Trade OMS Crossroad: Which way to turn?

Featured in Fund Operations

Ashu Sharma, Senior Manager at IMP Consulting, shares practical advice that every small to mid-sized Asset Manager should know in order to scale their OMS for the next 10 years.

In today’s markets, many asset managers are realizing substantial growth for the first time in over a decade. In turn, they now face a decision on the direction that they should turn for a long-term cost-effective Trade Order Management (OMS) solution. Among Application Service Provider (ASP), SaaS (Software-As-A-Service), and traditional...

To read more of Trade OMS Crossroad: Which way to turn? Click Here. (Subscription required)

Will Canadian Investment Advisors Survive the Changing Regulations?

Featured in NSCP Currents

Ashu Sharma, Senior Manager at IMP Consulting, offers his view on how technology solutions are coming to the rescue of IAs after significant changes in Canadian regulation.

To read Will Canadian Investment Advisors Survive the Changing Regulations? Click Here.

To read the November issue of NSCP Currents, please visit the NSCP website (membership required).

IMP Consulting Closes Loop Between Front Office and Compliance With the Release of CLEAR 360 and CLEAR On-Demand

IMP Consulting Closes Loop Between Front Office and Compliance With the Release of CLEAR 360 and CLEAR On-Demand

BOSTON, Mass. (July 20, 2016) - IMP Consulting, a leader in OMS implementation and compliance solutions for the asset management industry, today announced the release of CLEAR 360 and CLEAR On-Demand as the latest additions to its growing Compliance Library Enhancement and Audit Review (CLEAR™) consulting service.

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Now Streaming: Trade Compliance Through the Lifecycle of a Trade

Thank you to all who attended the webinar “Trade Compliance Through The Lifecycle of a Trade Building an Environment of Trust Between Portfolio Managers & Compliance”, sponsored by IMP Consulting, FrontLine Compliance, and NSCP.

For those of you who were unable to attend the webinar, following is the recording link to the webinar. A PDF of the PowerPoint presentation is available on our Case Studies & Documents page.

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