The eventual return of Wall Street’s trading and operations executives to their physical offices as the coronavirus pandemic subsides could end up being a cause for litigation and employee angst, rather than celebration, if C-suite executives don’t carefully balance profit-making with worker safety. Knowing when employees can come back to work is the easiest part […]
Vote Confirmation: Devil in the Operations Details
Determining whether a vote was actually counted at a corporate meeting has resurrected a sparring match among transfer agents, financial intermediaries, issuers and Broadridge Financial over how to operationally get the job done. Among the participants on a new end-to-end vote confirmation committee set up by the Securities and Exchange Commission to address the issue, […]
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 January 2022 as the timetable for banks in its jurisdiction to meet more […]
State Street’s US$88M Fine Highlights Deceptive “Pass-Along” Custody Fees
How can a global custodian bank convince clients for almost two decades that a twenty-five cent cost to transmit a message through the SWIFT network transmission is really worth a $5 “pass-along” fee? Easily, when fund managers aren’t paying attention and no one at the custodian bank is minding the shop. That’s no longer the […]