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Industry Squeezes SEC on Sec Loan Reporting

June 14, 2022 By Chris Kentouris Leave a Comment

Wall Street continues to turn up the heat against the US Securities and Exchange Commission’s proposal for transaction reporting on securities loans, citing its contradictory analysis on short position and short activity reporting as well as potential operational shortcomings. The SEC recently reopened the comment period for its proposed securities loan reporting plan to adopt […]

Filed Under: Risk, Sec Lending Tagged With: Brokerage Ops, Compliance, Custodians, Fund Ops, SEC, Sec Lending

What’s a CUSIP Worth? Over US$1B in Class Action Win

March 14, 2022 By Chris Kentouris Leave a Comment

If you think you have been fleeced by CUSIP Global Services and others for paying licensing fees for nine-digit alphanumeric identification codes for US securities you might be entitled to a chunk of at least US $1 billion in compensation if a jury decides you’re right. All you must do is be part of an […]

Filed Under: Compliance, Data, Operations, Regulations, Reporting, Standards Tagged With: Compliance, CUSIP, Data, Post-Trade, Regulators, Reporting, Standards

US SEC Loan Reporting: Ops Cost of Transparency

January 18, 2022 By Chris Kentouris Leave a Comment

The operational and legal challenges of complying with the US Securities and Exchange Commission’s potential requirement to report information on securities loan transactions to the Financial Industry Regulatory Authority could outweigh the benefits of transparency to investors, say operations and legal experts. Instead of offering any feedback to the SEC’s proposal, some industry players asked […]

Filed Under: Risk, Sec Lending Tagged With: Brokerage Ops, Compliance, Custodians, Fund Ops, SEC, Sec Lending

Autism Center of Alleged Crypto Inventor Wright’s Fraud Trial

November 29, 2021 By Chris Kentouris Leave a Comment

A brilliant autistic cryptocurrency developer or a brilliant con artist? That’s what a federal jury in Miami has to decide about Australian-born Craig Wright, who alleges he is Satoshi Nakamoto, the inventor of the most popular cryptocurrency Bitcoin and underlying blockchain technology. Ira Kleiman, the brother of the late Dave Kleiman, sued Wright in 2018 […]

Filed Under: Compliance, Financials, Innovation, Risk Tagged With: Blockchain, Crypto, Data, Investors

Bloomberg’s FIGIs Win Nod From US Standards Body: Now What?

October 5, 2021 By Chris Kentouris Leave a Comment

Bloomberg finally got its wish for FIGIs– acceptance of its securities ID codes as a standard– but whether that equates to popularity for trade and post-trade operations managers remains to be seen. Trade, middle, and back-office operations, and compliance managers at buy and sell-side firms can now be certain that Bloomberg’s financial instrument global identifiers […]

Filed Under: Compliance, Operations, Reporting, Risk, Standards Tagged With: Data, Regulations, Reporting, Standards

Archegos Debacle Prompts Holistic Counterparty Risk Management

June 23, 2021 By Chris Kentouris Leave a Comment

The recent implosion of family office Archegos Capital Management should renew interest in counterparty risk management and the need for a holistic program, say some broker-dealer risk management experts. By JP Morgan’s estimates the fallout may have cost some prominent prime brokers, such as combined as much as US$10 billion in trading losses. Archegos’ betting […]

Filed Under: Analytics, Compliance, Data, Funds, Regulators, Risk Tagged With: Compliance, Data, Fund Ops, Investment Ops, Regulation, Risk, SEC

New FX Benchmark Aims to Save Buy-Side Big Bucks

May 20, 2021 By Chris Kentouris Leave a Comment

Are we getting the best foreign exchange conversion rate?  Pension plans and other asset owners asking their fund managers that question might hear a resounding yes, but that’s not always the case as highlighted during the COVID-19 pandemic. Not all benchmarks are created equal, according to London-based Raidne, which claims it has come up with a […]

Filed Under: Compliance, Data, Funds, Regulations, Regulators Tagged With: Brokerage Ops, Compliance, Fund Ops, Innovation

ADRs: Will Blockchain Create a Better Mousetrap?

May 10, 2021 By Chris Kentouris Leave a Comment

Unsponsored American Depositary Receipts could be a lot less expensive and more efficient for investors to own and to receive dividends and other corporate action distributions thanks to a new permission-based blockchain platform designed by RISE Financial Technologies, according to the Boston and London-based blockchain technology firm. RISE Financial predicts its new blockchain-based infrastructure, set to […]

Filed Under: Compliance, Financials, Innovation, Risk Tagged With: Blockchain, Compliance, Crypto, Data, Fund Ops, Innovation, Investors, Post Trade

Citi’s $900M Blunder Casts Light on Poor Loan Ops

March 4, 2021 By Chris Kentouris Leave a Comment

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 at their technology, internal procedures and any offshore work. Citibank is considered an anomaly […]

Filed Under: Analytics, Data, Funds, Investments, Investors, Operations Tagged With: Compliance, Data, Fund Ops, Ops Risk

Want to be AML Whistleblower? Not So Fast

January 25, 2021 By Chris Kentouris Leave a Comment

You work in the anti-money laundering department of a major bank or brokerage and overhear a conversation about how suspicious activity reports are not being filed on a particular client; how the transaction monitoring system is not working properly; or how wire transfers are being made to a country or individual on a US sanctions […]

Filed Under: Regulations, Regulators, Risk, Rules Tagged With: AML, Compliance, Data, Regulators, SEC

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