Chief compliance officers (CCOs) at private fund management firms could be saddled with the extra title of anti-money laundering compliance officer and a lot more work if a proposed AML rule from the FinCEN unit of the US Treasury takes effect. FinCEN, short for Financial Crimes Enforcement Network, has resurrected its longstanding desire for many investment advisers to fall under the same … [Read More...]
-
BofAML’s Fake Trade Reports: Governance Breakdown?
How could Bank of America Merrill Lynch get away with giving institutional customers phony trade execution, transaction cost analysis and expense reports for five years?… [Continue Reading]
-
Crypto Laundering: AML Regs Tighten
Anti-money laundering managers at banks and other financial institutions need to adapt their customer onboarding and transaction-monitoring approaches to cryptocurrency investors or risk regulatory fines,… [Continue Reading]
-
GDPR: Final Call for US Asset Managers
Does Europe’s General Data Protection Regulation (GDPR) apply to me? If compliance and operations managers at US asset management firms are asking themselves that question,… [Continue Reading]
-
Custody: Unchartered Waters for Digital Assets
Qualified custodian. That’s a term that compliance and operations managers at registered investment fund advisors, not to mention the US Securities and Exchange Commission, are… [Continue Reading]
-
Striking an NAV: Fund Managers’ Contingency Options
(Editor’s Update on December 5, 2018: US fund managers are getting serious about striking back-up NAVs on their own. Milestone Group tells FinOps Report that… [Continue Reading]
News You Can Use
Readers’ Picks (Last Two Weeks)
- SS&C: $890M At Stake in Legal Tussle With BNY Mellon March 6, 2024 (35)
- Private Fund Managers: Hello AML Compliance Officers April 1, 2024 (34)
- US Post-Trade Matching: Omgeo, Bloomberg or SS&C? December 16, 2015 (30)
- SEI Sues SS&C For Threatening to Shut… April 29, 2020 (30)
- SEI Loses Antitrust Suit Against SS&C; Use of… January 4, 2021 (29)
- What’s a CUSIP Worth? Over US$1B in Class Action Win March 14, 2022 (28)
Featured Posts
SS&C: $890M At Stake in Legal Tussle With BNY Mellon
A longstanding dispute over a market data contract with SS&C Technologies, which could cost BNY Mellon up to a whopping US$890 million in damages, highlights the danger of intentionally violating or even misinterpreting a critical element of such an … [Read More]
NY’s New Cyber Law Shines Stronger Light on C-Level
C-level executives at most financial firms operating in New York will have one more reason besides the fear of a data breach to change their corporate governance for cybersecurity this year-- New York State's amended regulation. Electronic securities … [Read More]
US Treasuries Central Clearing: Fund Managers’ Juggling Act in 2024
US fund managers will be spending the new year preparing for the operational and legal challenges arising from central clearing of most secondary trades in Treasury cash and repurchase agreements now that the Securities and Exchange Commission has approved the … [Read More]
SEC’s Private Fund Adviser Rules: Tackling the Dos, Don’ts, and Maybes
The US Securities and Exchange Commission's new rules for private fund advisers are meant to increase transparency for investors, but they will also increase operational pain and cost for compliance managers even more, fund executives tell FinOps … [Read More]
SEC Tells Mutual Fund Industry: Lost Accountholders Matter
Compliance directors at US mutual fund transfer agents and US mutual funds will have to follow the US Securities and Exchange Commission's rules to a T and they will have more administrative work on their hands to inform investors about the perils of … [Read More]