The issue of which self-regulatory authority will take over the job of setting the maximum fees issuers must pay broker-dealers and banks to mail proxy materials to beneficial shareholders has pitted the New York Stock Exchange against the Financial Industry Regulatory Authority. leaving proxy operations managers and corporate secretaries in a lurch. The NYSE, which has been setting the proxy … [Read More...]
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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]
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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]
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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]
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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]
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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]
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Readers’ Picks (Last Two Weeks)
- Schwab’s $1.2 M Customer Account Transfer… April 13, 2021 (1,452)
- Mirror Trading: New Focus on Potential AML Violations September 18, 2017 (16)
- NYSE Puts FINRA in Hotseat For Proxy Distribution… April 17, 2021 (15)
- Rule 605 Reports: Next for Transparency Data Overhaul? April 3, 2021 (14)
- SEI Loses Antitrust Suit Against SS&C; Use of… January 4, 2021 (12)
- Preventing Pesky US Treasury Settlement Fails March 15, 2021 (11)
Featured Posts

Schwab’s $1.2 M Customer Account Transfer Mistake: Now What?
Whoops, it happened again. This time it was a software glitch that led brokerage Charles Schwab to erroneously transfer US$1.2 million from a former retail client's account to the customer's new brokerage account at Fidelity Brokerage Services which has left … [Read More]

Rule 605 Reports: Next for Transparency Data Overhaul?
More transparency -- the mantra which has taken hold regarding Rule 606 reports -- needs to make its way to Rule 605 reports, say trade execution experts and buy-side representatives who are hoping the US Securities and Exchange Commission will take action … [Read More]

Preventing Pesky US Treasury Settlement Fails
For US broker-dealer operations managers failing to settle a transaction in US Treasury securities might never have been all that problematic, but with the number of fails rising dramatically during the peak of the COVID-19 pandemic one megabank--BNY Mellon-- … [Read More]

Citi’s $900M Blunder Casts Light on Poor Loan Ops
A New York judge's recent ruling that lenders to financially ailing cosmetics giant Revlon can keep US$500 million in payments they mistakenly received from Citibank is prompting operations managers of syndicate loan desks at rival banks to take a closer look … [Read More]

New IDs for Digital Assets: FIGIs or ISO-Backed Codes?
Does the financial services industry need more than one identification standard for digital assets? Can standards for identifying traditional assets even apply for the digital asset market? Those are the two questions trading, compliance and operations … [Read More]