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:
“I am not of the opinion generally entertained in this country [England], that man lives by Greek and Latin alone; that is, by knowing a great many words of two dead languages, which nobody living knows perfectly, and which are of no use in the common intercourse of life. Useful knowledge, in my opinion, consists of modern languages, history, and geography; some Latin may be thrown into the bargain, in compliance with custom, and for closet amusement.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“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)