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Chief Compliance Officers Revisit Personal Liability

February 10, 2022 By Chris Kentouris Leave a Comment

It’s all about context. That’s one key factor a group of financial service compliance professionals wants the US Securities and Exchange Commission and Financial Industry Regulatory Authority to consider when holding a chief compliance officer personally liable for the wrongdoing of his or her company’s employees. The recommendation of the National Society of Compliance Professionals […]

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

S in ESG Stands for Supply Chain

October 19, 2021 By Chris Kentouris Leave a Comment

Do you know how green your third-party service providers are? That’s the question risk and vendor procurement managers at fund management firms, banks and broker-dealers must soon answer correctly or face reputational and regulatory consequences, say legal and data experts in environmental, social and governance policies. The vendors can be anyone from a fund administrator, […]

Filed Under: Compliance, Data, Investors, Regulators, Reporting, Rules Tagged With: Brokerage Operations, Compliance, Data, Fund Operations, Investment Operations, Regulations, Risk, 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

Legal Experts Debate Personal Liability for Chief Compliance Officers

July 2, 2021 By Chris Kentouris Leave a Comment

Chief compliance officers need a new operating model, not a new legal framework, to avoid being personally penalized unfairly by the US Securities and Exchange Commission for regulatory infractions, say some legal experts. The New York City Bar Association’s recent framework suggesting that the SEC be more understanding of the challenges faced by chief compliance […]

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

SEC’s New Fund Fair Value Rule: Ops and Fintech Solutions

April 25, 2021 By Chris Kentouris Leave a Comment

The Securities and Exchange Commission’s new fair value rule for how fund managers should price some of their funds’ assets is causing fund managers and board of directors plenty of angst which can be eased though the right operational workflow and finech solutions, says Milestone Group. The SEC  in December 2020 scrapped all of its previous […]

Filed Under: Analytics, Compliance, Data, FundOps, Investors, Regulators, Rules, SEC, Valuation Tagged With: Data, Fund Ops, Investors, Regulators, Rules, SEC, Valuation

Preventing Pesky US Treasury Settlement Fails

March 15, 2021 By Chris Kentouris Leave a Comment

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– has decided to offer a preventative service in a technology partnership with Google Cloud. As the […]

Filed Under: Compliance, Post-Trade, Regulators, Risk, Rules, Settlement Tagged With: Compliance, Data, Regulators, Rules, Standards

COVID-19 Spurs Banks, Brokers to Reclaim “Lost” Assets

February 11, 2021 By Chris Kentouris Leave a Comment

The COVID-19 pandemic is prompting a shakeup in the mundane world of unclaimed property reporting operations and compliance. Instead of simply focusing only on escheating accounts of lost investors and customers to state coffers, US banks and broker-dealers are now trying to recover funds and accounts belonging to their institutions, say unclaimed property operations managers. […]

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

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

CSDR: Using Predictive Analytics to Prevent Fails

July 14, 2020 By Chris Kentouris Leave a Comment

Predict and prevent– that’s what back-office operations managers at buy and sell-side firms preparing for Europe’s Central Securities Depositories Regulation (CSDR) settlement discipline regime are starting to think about so they won’t have to pay hefty financial penalties or endure buy-in requirements if they fail to settle their European trades on time. Instead of bemoaning […]

Filed Under: Compliance, Data, ESMA, Regulators, Risk, Rules, Rules, Settlement, Standards Tagged With: Compliance, Data, ESMA, Regulators, Risk, Settlement, Standards

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