Fund managers no longer have to rely on their fund administrator's backup plan or their own when striking or validating a net asset value. BNY Mellon, the world's largest custodian bank, says it can save the day by doing all the operational work using Milestone Group's pControl platform which also allows for accurate backup NAvs to be generated at scale and a rapid rate during an emergency. … [Read More...]
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JP Morgan Whistleblower Case Tests Unclaimed Property Compliance
How hard is it to calculate past interest due? Unclaimed property operations and compliance managers at US financial firms will soon find out that the task is more difficult than they thought should JP Morgan Chase lose its appeal of a New York civil court … [Read More]
Suspicious Activity Reports: Should Absolute or Qualified Immunity Apply?
US anti-money laundering compliance managers may have to think twice before filing suspicious activity reports (SARs) depending on what the Supreme Court decides in a case involving Fidelity Brokerage Services. The petition filed by AER Advisors and two of … [Read More]
Regulatory Ops 2020: Handling Tower of Acronyms
Compliance, operations, and IT managers will be teaming up in newly created regulatory operations departments to do data aggregation, contract renegotiation and relationship management in 2020 as they handle a slew of new regulations commonly known by their … [Read More]
Goodbye NSCC: Hello Paxos for Clearing US Equities?
US clearinghouses, such as the National Securities Clearing Corp. (NSCC), could become either a thing of the past or take a backseat, if custodian Paxos has its way in clearing and settling US securities. The US Securities and Exchange Commission's recent … [Read More]
Unclaimed Cryptocurrencies: New Legal, Ops Headaches?
States might soon make a real claim on unclaimed virtual currency accounts, forcing digital asset custodians and exchanges to address murky statutes and potential legal liability. "States have a good nose to smell just which industry isn't compliant with … [Read More]