New York, June 9, 2004 â The art of tracking and managing risk exposure can be one of the most labor intensive activities any compliance officer faces on a day to day basis. Especially high risk is the need to link subsidiaries and business entities with financial securities, a task many still undertake manually, in an environment where fraud is easily hidden within a complex maze of foreign-based entities. In an effort to address this Standard & Poorâs, in partnership with D&B and Telekurs Financial, has enhanced the Security to Entity CrossWalk, a fully automated service which was launched last year as part of the industryâs response to Sarbanes-Oxley, Basel II and the U.S. Patriot Act.
The enhanced service addresses compliance issues by cross-referencing securities and highlighting conflicts of interest relative to holdings, potential holdings or client inter-relationships. With the additional information, a compliance officer now has access to over five million securities identifiers, including CUSIP and ISIN identification numbers, resulting in a 360 degree view of total risk and opportunity across related businesses.
"With every corporate fraud that comes to light, the need to understand security, entity and compliance risk becomes that much more urgent. We constantly seek ways to enhance this service to ensure that customers have a reliable, fully automated product which delivers a clear picture of all assets, liabilities and holdings," says Scott Preiss, vice president, Standard & Poorâs, a leading provider of independent investment research, ratings and indices. "Customers such as risk and credit managers, compliance officers, banks, investment firms and insurance companies can gain increased insight when making decisions with securities investments about the inherent risks, cross-ownership and other regulatory issues facing their business."
Security to Entity CrossWalk subscribers receive regularly updated, dynamic information as an add-on service to CUSIP Master File, ISID Master File and ANNA Service Bureau ISIN File in an Internet FTP delivery or delimited format.
Security to Entity CrossWalk combines the proven leadership of three providers of securities identification and cross-referencing data, business information and corporate action data in a solution that links multiple investment programs to a common legal entity. For over 35 years Standard & Poorâs has operated the CUSIP Service Bureau for the American Bankers Association. Standard & Poorâs and Telekurs have partnered for nearly 15 years to produce ISIDPlus, the industryâs most comprehensive securities cross-referencing service. D&B brings over 160 years of trusted experience in collecting data from multiple sources and enhancing that data with the quality information that drives profitable decisions.