According to a new survey undertaken by AIM Software, the financial industry continues to struggle with compliance with regulations, including Basel II, MiFID (Markets in Financial Instruments Directive) and the Sarbanes-Oxley Act. AIM Software's study was designed to provide insights into the driving forces, challenges and planned investments for reference data automation and risk management. The survey was sponsored by FT Interactive Data, an Interactive Data (NYSE: IDC) business, and a leading supplier of financial information to global markets.
The findings of this year's survey reveal that improving reference data quality is regarded as a key issue for risk management and that regulatory requirements are increasingly strongly driving investments in IT. Companies now pay more attention to the challenges of Basel II (which enters into force in Europe in 2007) and the Sarbanes-Oxley Act of 2002.
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