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 their escheat laws and could target the cryptocurrency market," cautions Robert Peters, managing director and head of the unclaimed property … [Read More...]
Featured Posts
FinCEN’s New Reporting Category: Human Trafficking
Anti-money laundering managers at US banks could soon beef up their efforts to help law enforcement catch human trafficking, thanks to a new line item on their suspicious activity reports (SARs). AML executives aren't responsible for prosecuting the … [Read More]
Initial Swaps Margin: Facing Final Custodian Interactions
Investment funds, which have to meet initial margin requirements for uncleared derivative transactions in 2020 and 2021, will soon find that their biggest legal and middle-office challenges could be dealing with custodian banks. Far more investment funds … [Read More]
Opportunity Zone Fund Admin: Can Blockchain Do the Trick?
Blockchain is finding a new opportunity in middle and back-office operations for opportunity zone (OZ) fund managers, but can it outperform the current alternative fund administrators? One Arizona entrepreneur certainly thinks so. Co-founded and part-owned … [Read More]
FRTB: Five Ops Steps to Recalculating Market Risk
Bank trading desk, risk, and data managers are quickly realizing that the term fundamental in the new Fundamental Review of the Trading Book legislation should be taken literally and they don't have much time left to prepare. The European Union has set … [Read More]
California’s Data Privacy Law: Sticky GDPR Differences
What is personal data? Who is your customer? What is the sale of data? For chief data privacy and technology officers who think that the new California Consumer Protection Act (CCPA) is just a mini-version of Europe's General Data Protection Regulation … [Read More]