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SEC’s Oversight of Cryptomarket Prompts Funding Debate

July 21, 2022 By Chris Kentouris Leave a Comment

The US Securities and Exchange Commission’s decision to ask Congress to increase its fiscal 2023 budget to more closely monitor the cryptoasset market has resurrected the issue of whether members of one asset class should subsidize oversight of another, but there is no change in sight. The regulatory agency’s crypto-related enforcement actions have soared over […]

Filed Under: Compliance, Data, Regulators, Reporting, SEC Tagged With: Crypto, Data, Regulators, Reporting, SEC

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

Europe’s CSDR: Fund Managers Monitor Settlement Fails

March 8, 2022 By Chris Kentouris Leave a Comment

Operations managers at fund management firms are scrambling to improve how they monitor settlement fails and prevent penalties imposed by their custodian banks just around the corner as mandated under Europe’s Central Securities Depository Regulation (CSDR). A dozen European fund management firms,who spoke with FinOps Report on condition of anonymity, say they are spending more […]

Filed Under: Compliance, Data, Post-Trade, Settlement Tagged With: Compliance, Data, Regulations, Standards

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

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

Uncleared Margin Rules Phase Six: Five Step SCOPE Approach

September 7, 2021 By Chris Kentouris Leave a Comment

With the fifth phase of initial margin requirements for uncleared swap transactions recently effective, collateral management and compliance managers at hundreds of fund management shops need to start preparing for the final phase of uncleared swap rules to avoid finding themselves in hot water with regulators or counterparties, warn operations and legal experts. Fund management […]

Filed Under: Compliance, Data, Margining, Regulations Tagged With: Brokerage Ops, Collateral, Compliance, Data, Derivatives. Fund Ops

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

Cryptomarket Rejects New Certification for Trading, Ops Execs

July 24, 2021 By Chris Kentouris Leave a Comment

Should Wall Street executives trading and processing digital securities transactions be legally required to pass licensing or mandatory in-house training programs? The answer to the question raised in a comment letter sent to the US Securities and Exchange Commission in April concerning its December 2020 framework for the custody of digital securities appears to be […]

Filed Under: Compliance, Data, Innovation, Regulations, Standards, Trading Tagged With: Blockchain, Brokerage Ops, Compliance, Crypto, Fund Ops, Hedge Funds, Regulators, SEC

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

Securities Class Action Settlements: Don’t Leave Money on the Table

June 4, 2021 By Chris Kentouris Leave a Comment

Recovering monies from class action settlements should be a risk-free revenue generator, but that’s not the case for many money managers, broker-dealers and their custodians. Instead, the process is fraught with operational errors, which results in billions of dollars in uncollected compensation each year. The COVID-19 pandemic has not only changed the types of securities […]

Filed Under: Brokerage Ops, Compliance, Data, FundOps, Regulators Tagged With: Compliance, Custodians, Data, Outsourcing, Risk

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