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| New service to help financial institutions and their investment and trading intermediaries comply with OFAC & EU Sectoral Sanctions |
NEW YORK & LONDON, May 18, 2015 - (ACN Newswire) - Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced the launch of its Russian Sanctions Tracking Service. In July 2014, the European Union (EU) and the Office of Foreign Assets Control (OFAC) issued a number of executive orders and sectoral sanctions against Russia in retaliation for the Russian government's annexation of Crimea and its activities to destabilize Ukraine. The result of these sanctions has imposed an additional burden on investment and trade compliance as financial institutions and infrastructure providers must ensure they do not trade or settle new debt or equity issued by sanctioned entities.
Thomson Reuters Russian Sanctions Tracking Service provides financial institutions and their investment and trading intermediaries with the required information on sanctioned entities, their subsidiary relationships, and all instruments that are specifically impacted by the sanctions. The service also includes daily updates to track any corporate actions related to sanctioned entities and new issuance of debt and equity that are restricted as a result of the sanctions.
Furthermore, Thomson Reuters Russian Sanctions Tracking Service leverages existing content and legal entity data to track Russian subsidiaries and any new instruments issued by these entities. The service is delivered via Thomson Reuters DataScope Select, the strategic platform for non-streaming content, and benefits from its support infrastructure, regular updates of its entity and instrument sanctions list as well as proactive alerts for any new issues.
"Our new Russian Sanctions Tracking Service is an excellent addition to our existing Russian Sanctions screening solution available through World-Check," said Phil Cotter, managing director, head of Risk, Thomson Reuters. "It also shows how Thomson Reuters continues to deliver on its promise to combine assets across the firm in building the products and services customers need to meet their growing global regulatory requirements."
"Tracking sanctioned instruments represents a massive 'connect the dots' challenge to identify the complex subsidiary relationships of Russian entities," said Tim Lind, head of Regulatory Services, Thomson Reuters. "Thomson Reuters is a leading supplier of corporate hierarchies and securities reference data so we already have the assets to track the equity and debt issued by sanctioned companies. As part of our ongoing commitment to target regulatory compliance challenges, we've combined our market leading compliance services with our comprehensive reference data services to create a specific solution to address the tracking of Russian sanctions."
Thomson Reuters also offers Russian Sanctions monitoring through its leading World-Check suite of products. This service monitors over 400 sanction, watch, and regulatory law and enforcement lists, as well as hundreds of thousands of information sources, often identifying high-risk entities months or years before they are listed. World-Check currently exceeds terrorist coverage on the four leading sanctions (OFAC, EU, UN, UK HMT) by more than 70,000 records.
For more information about the Russian Sanctions Tracking Service or the DataScope platform, please contact: http://www.prdcommunity.com/index.php/solutions/valuation-services
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to http://thomsonreuters.com/
CONTACTS
Lemuel Brewster
Senior Public Relations Director, Financial & Risk
Office +1-646-223-5147
Mobile +1-917-805-1089
lemuel.brewster@thomsonreuters.com
Mark D. Harrop
Public Relations Manager, Financial & Risk
Office +1-646-223-7803
Mobile +1-347-803-5575
mark.harrop@thomsonreuters.com
Brian Mairs
Global Head of External Comms, F&R, VP Corporate Affairs
Office +44-20-7542-7866
Mobile +44-77-9947-7998
brian.mairs@thomsonreuters.com
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Source: Thomson Reuters Corporation via Globenewswire
Topic: Press release summary
Source: Thomson Reuters
https://www.acnnewswire.com
From the Asia Corporate News Network
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