The International Securities Association for Institutional Trade Communication (ISITC) said it wanted to focus on education and collaboration around important regulatory changes this year as well as developing and updating market practices.

The association released its 2013 Annual Business Report, highlighting work on ISO 20022 governance and the Cleared Derivatives Communications market practice while also outlining goals for 2014.

"Looking ahead, some of ISITC’s 2014 goals include continued education and collaboration around key regulatory initiatives including Dodd-Frank, FATCA and Financial Transaction Tax (FTT), in addition to updating and developing new, relevant market practices," the organisation said.

ISITC said noteworthy accomplishments in 2013 included:

• Release of a new market practice for Cleared Derivatives Communications
• Coordination with DTCC to implement their corporate actions transformation initiative
• Continued participation in the Standards Coordination Group, alongside SWIFT, FPL, ISDA, FISD and XBRL, ahead of further updates to the Investment Roadmap
• Direct participation in the governance of ISO 20022
• Collaboration with AMF, ISDA and SMPG on Cash and Security Segregated Collateral Market Practice

ISITC includes more than 1,500 individuals from more than 100 member firms in the broker/dealer, global custodian, investment management, vendor and utility communities, 

Crestbridge in Luxembourg has been approved by the regulator there (CSSF) to act as a manager under the European Venture Capital Funds (EuVECA) regulation. 

Guernsey says it has extended market access to EU Alternative Investment Fund Managers (AIFMs) and Alternative Investment Funds (AIFs) doing business in Guernsey.

The International Securities Services Association has adopted a set of Financial Crime Compliance Principles. The aim, it says, is to support the efforts of the global community of securities custodians and intermediaries to address the critical challenges posed by financial crime (he Principles can be downloaded from the ISSA website).

London Stock Exchange Group (LSEG) has signed heads of terms with Boat Services Ltd to build a MiFID II-compliant trade reporting service. 

UK regulators have approved Societe Generale Securities Services (SGSS) to offer trustee and depositary services in the UK for UCITS and alternative investment funds.

Mutuelle du Personnel IBM (IBM’s staff health insurance scheme) has asked CACEIS to meet its requirements for look-through reporting, data enrichment and calculation of the gross market SCR (solvency capital requirement) for portfolios already held under custody in light of the Solvency II reform, in effect from January 1 2016.