Compliance
Compliance Corner: SIX, Eagle Investment Services

A regular round-up of compliance news, such as fines, permissions, new technology solutions to make tracking risks easier, and other developments.
SIX, Eagle Investment Services
Switzerland-based SIX and
Eagle
Investment Services, a BNY Mellon company, has
unveiled an expanded alliance to help Eagle clients obtain
information about sanctions. The area is a major pain point, as
seen by banks falling foul of blockades against countries such as
Iran in recent years.
SIX and Eagle have had an existing relationship since 2011.
Eagle clients can get data directly from SIX for use within Eagle
solutions. The parties said the alliance will streamline efforts
by clients to source, validate, and align sanctions data with
existing portfolio data, helping firms reduce the danger of
putting their reputations at risk by dealing with sanctioned
organisations and people.
“Effective sanctions compliance depends on accurate
identification of in-scope entities and their issued securities,
which are very complex and constantly changing,” John Mc Manus,
head of sales Americas, Financial Information, SIX, said.
The Global Sanctions Data Service by SIX provides a list of
related entities and issued securities of “watched” individuals
or organisations who have been sanctioned by regulators or
government bodies.
The service identifies the regimes under which each is
sanctioned, drawing from various international regulatory bodies,
including those of the European Union, Hong Kong, the UK and the
US, as well as the United Nations. SIX monitors 6.7 million
active instruments and over 26,000 changes a week (such as
regulator updates and shareholder changes).