SS&C Algorithmics is pleased to share that we have won Bank ALM system of the year at the prestigious Risk Technology Awards 2020.
The SS&C Algorithmics ALM solution provides a next-generation risk system, designed with business-driven interfaces, and built on high-performance analytical engines that delivers uncompromising, comprehensive results.
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According to a recent article in The Guardian, “As soon as a vaccine is approved, it’s going to be needed in vast quantities. In a best-case scenario, mass manufacture probably won’t arrive before 2021 – and many of the organisations in the Covid-19 vaccine race simply don’t have the necessary production capacity.”
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Following up from the SS&C Algorithmics Webinar “Managing Credit Risk During a Global Pandemic – Key Considerations and Best Practices” held on May 20th, we wanted to share some of the interesting insights gained from our audience poll of three topics relevant to the webinar discussion. In terms of COVID-19 recovery expectations, participants overall appeared to lean more towards conservative presumptions with respect to the expected course of the recovery, with 92%believing that a prolonged “U,” delayed “L” or broken “W” shaped recovery would ensue, with only 8%believing that a swift “V” shaped recovery would prevail. Perhaps this reflects the more sobering realities of the severe impacts the economic shutdown has had on global output and employment, and expected levels of bad debt and credit losses likely to accrue to existing bank balance sheets.
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To hear more about SS&C’s vision for the future state of alternative investment operations, watch out short video.
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Since the passage of “Coronavirus Aid, Relief, and Economic Security Act” or “CARES Act” the Retirement Industry has anxiously awaited guidance on a number of open questions. During that time, regulators have issued additional relief measures designed to ease the burden on employers and their plan participants. For example, the IRS issued Notice 2020-23 on April 9, which extended many tax deadlines, including those deadlines applicable to qualified retirement plans.
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Recently, the Treasury Department and IRS extended several deadlines, including the federal income tax filing due date, which was extended to July 15th. Employers are allowed a deferral of the employee portion of Social Security tax from the end of March through December 31st, 2020. The Medicare portion is unchanged. Participation in the Payroll Protection Program may affect eligibility for certain relief measures.
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In 2021, health plans providing Medicaid, Medicare, CHIP and coverage under the Federal Exchange must expand the sharing of individual PHI data beyond written communication to provide electronic claims and clinical data to members’ phones, mobile devices and web applications. The final CMS “Interoperability and Patient Access” rule released on March 9th is the first nationwide interoperability requirement for health plans and states administering coverage under government programs to generate individual and plan data in this manner
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Global regulation surrounding the alternative investment industry continues to evolve. Private fund jurisdictions have expanded requirements by adopting legislation that requires private funds, which have previously been exempt from registration, to be subject to additional compliance and registration requirements similar to those currently in place for open-ended structures. There are, however, differences specific to private funds.
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