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LIBOR: Transition 1-2-3 in 2022

December 15, 2021 By Chris Kentouris Leave a Comment

Breakups can be messy and switching from the London Interbank Offered Rate (LIBOR) to alternative reference rates (ARRs) will be no exception for trading, operations, fintech, risk and compliance managers in 2022. An ounce of preparing next year can translate into a pound of preventing errors in 2023, caution LIBOR operations and legal experts who […]

Filed Under: Compliance, Regulations, Reporting, Rules Tagged With: Brokerage Ops, Compliance, Data, Fund Ops, Regulators, Reporting

Broker-Dealer Alert: Filing Suspicious Activity Reports Could Get Harder

September 20, 2021 By Chris Kentouris Leave a Comment

Anti-money laundering analysts and compliance managers at US broker-dealers may need to work a lot harder and worry a lot more before filing suspicious activity reports if Alpine Securities, a US penny stockbroker, loses its appeal to the Supreme Court over whether the Securities and Exchange Commission has the right to enforce the Bank Secrecy […]

Filed Under: Compliance, Regulations, Rules Tagged With: AML, Compliance, Data, Investors, Reporting, SEC

Symbiont Scores Legal Win Against Ipreo, IHS Markit

August 30, 2021 By Chris Kentouris Leave a Comment

US syndicated loans operations managers must bid farewell to a wannabe blockchain-based competitor to IHS Markit’s ClearPar platform based on a recent decision by a Delaware state judge who also awarded Symbiont a whopping US$70 million in its lawsuit against former partner Ipreo and Ipreo’s parent IHS Markit. Vice Chancellor J. Travis Laster of Delaware’s […]

Filed Under: Compliance, Investments, Rules, Rules Tagged With: Blockchain, Crypto, Investors

Europe’s SFDR: Shades of Green Cause Ops Headache

August 12, 2021 By Chris Kentouris Leave a Comment

Non-green, light green and dark green. Investment, compliance, and legal managers at fund management shops who must classify their funds in one of those three categories under Europe’s Sustainable Finance Disclosure Regulation (SFDR) are finding the road to explaining how their investments are helping or harming the environment and society paved with good intentions but […]

Filed Under: Compliance, Data, Investors, Regulations, Rules Tagged With: Compliance, Data, Fund Operations, Investment Operations, Regulations, Regulators, SEC

Crypto Industry to SEC: Safe Harbor for Broker Custodians Isn’t Safe

June 16, 2021 By Chris Kentouris Leave a Comment

The US Securities and Exchange Commission’s decision to give broker-dealers a five-year reprieve from any regulatory sanctions to custody digital security assets in a trial run under limited circumstances isn’t all that sound, caution some broker-dealers, cryptoasset market players, and legal experts. While praising the SEC’s effort, respondents to the SEC’s request for feedback and others discussing […]

Filed Under: Compliance, Financials, Regulations, Risk, Rules Tagged With: Blockchain, Brokerage Ops, Crypto, Data, FINRA, Investors, Regulation, SEC

Supreme Court Expert’s Decision on MoneyGram Unclaimed Checks: The Ops Effect

June 14, 2021 By Chris Kentouris Leave a Comment

Unclaimed property operations and compliance managers at banks and broker-dealers are quickly reviewing their procedures for “lost accounts” in a wake of a recent recommendation by a legal expert appointed by the US Supreme Court that Delaware must return millions of dollars worth of uncashed “official checks” issued by MoneyGram to over 20 other states. […]

Filed Under: Rules, Rules, Unclaimed Tagged With: Compliance, Escheatment, Investors, Reporting

NYSE Puts FINRA in Hotseat For Proxy Distribution Fee Oversight

April 17, 2021 By Chris Kentouris Leave a Comment

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 […]

Filed Under: Compliance, Data, Regulations, Regulators, Rules Tagged With: Brokerage Ops, Compliance, Data, FINRA, Fund Ops, Investors, Rules, SEC, Standards

Schwab’s $1.2 M Customer Account Transfer Mistake: Now What?

April 13, 2021 By Chris Kentouris Leave a Comment

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 operations managers at rival brokerages scratching their heads and Schwab forced to go to court. […]

Filed Under: Compliance, Investments, Regulations, Rules Tagged With: Brokerage Ops, Compliance, FINRA, Regulations, Regulators

Rule 605 Reports: Next for Transparency Data Overhaul?

April 3, 2021 By Chris Kentouris Leave a Comment

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 this year. US broker-dealers which forward orders to trading venues or market makers […]

Filed Under: Compliance, Data, Regulations, Rules Tagged With: Brokerage Ops, Compliance, Data, Regulations, Reporting, SEC

Registered Investment Funds 2021: New Derivatives Risk Program

January 13, 2021 By Chris Kentouris Leave a Comment

For US traders, risk managers, portfolio managers, and boards of directors of registered fund management firms trading in derivatives, 2021 will be the year they figure out which derivatives to trade and how many to trade for more reasons than just making higher investment returns. Complying with the Securities and Exchange Commission’s new rule 18f-4 […]

Filed Under: Compliance, Derivatives, Funds, Risk, Rules Tagged With: Compliance Fund Ops, Data, Investment Ops, Regulators, SEC

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