New products and changes introduced over the last week include a business development company from CNL and KKR, additions to SWIFT’s financial crime compliance portfolio and factor investing strategies from Parametric.
Also, TIAA-CREF added an index that measures employee retirement readiness and Practical Perspectives released its latest iteration of an annual study on advisors’ use of client-approved materials.
Here are the latest developments of interest to advisors:
1) CNL, KKR Launch Second BDC
CNL Financial Group and KKR announced that the registration statement of Corporate Capital Trust II, a second business development company (BDC) advised by CNL and KKR, has been declared effective by the Securities and Exchange Commission. The BDC is expected to begin operations later this year.
2) SWIFT Beefs Up Financial Crime Compliance Portfolio
SWIFT announced the addition of two new services to its financial crime compliance portfolio beginning in 2016 and the continued expansion of its Know Your Customer (KYC) offering.
The first service to be added next year is sanctions list management, which will enable financial institutions to access, manage and customize multiple sanctions list feeds on a secure, SWIFT-hosted platform.
The second is a payments data quality assurance service; that will help banks evaluate the quality of originator and beneficiary information in the SWIFT messages they send or receive.
3) Parametric Adds Factor Investing Strategies