Compliance and Standards
SIX Financial Information actively participates with global standards organizations to define and adopt relevant standards that promote straight-through processing. Specifically, SIX Financial Information is the official national numbering agency (NNA) in Switzerland Liechtenstein and Belgium, and in this capacity is responsible for the issuing of Valoren and ISIN identifiers. The company is also a founding member of ANNA, as well as a co-operator of the ANNA Service Bureau. In addition, SIX Financial Information is a member of The International Organization for Standardization (ISO), FISD, and MiFID joint working groups, and is a SWIFT certified distributor of ISO 15022 corporate actions messages.
For regulatory compliance, SIX Financial Information provides a wealth of information that help analyze exposures and aggregate positions for effective reporting. SIX Financial Information has incorporated flags, markers and classifications into VDF that facilitate compliance with taxation regulations such as the EU savings tax, Swiss transaction taxes and US IRS Withholding, plus fee calculation regulations such as the SEC rule 22c-2, and pan-European regulations as MiFID and UCITS III and IV.
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Famous quotes containing the words compliance and/or standards:
“Discipline isn’t just punishing, forcing compliance or stamping out bad behavior. Rather, discipline has to do with teaching proper deportment, caring about others, controlling oneself and putting someone else’s wishes before one’s own when the occasion calls for it.”
—Lawrence Balter (20th century)
“There are ... two minimum conditions necessary and sufficient for the existence of a legal system. On the one hand those rules of behavior which are valid according to the system’s ultimate criteria of validity must be generally obeyed, and on the other hand, its rules of recognition specifying the criteria of legal validity and its rules of change and adjudication must be effectively accepted as common public standards of official behavior by its officials.”
—H.L.A. (Herbert Lionel Adolphus)