Private equity fund managers are starting to crack under the pressure of finding data and turning it into useful intelligence for investors and regulators at record speed, say investment operations experts. Although many of them can ill afford it, they will eventually have to invest in the necessary data infrastructure for the same reasons as […]
EMIR: One Little Number Can Make or Break Reporting
With the European regulatory requirements for reporting exchange-traded and over-the-counter swap transactions less than a month away, fund managers can’t afford a leap of faith that they will be ready, warn regulatory and operations experts. There is a key nagging issue they must resolve before February 12: just who will create the 52-character unique trade […]
Reconciliation Moves Into Fee Accounting
Once viewed strictly as a matter of matching up cash, positions and transactions, the middle-office task of reconciliation is quickly moving into the trade-execution and post-trade space. The reasons are self-evident: not only are regulators demanding better control of operational risk, but C-level management are requiring more precise analysis of the bottom line for each unit. “It’s all […]
What to Do When the CFTC Gets Into Your Phone Calls
A new requirement from the Commodity Futures Trading Commission (CFTC) that all oral communications on some over-the-counter transactions be recorded, could end up being technologically and economically unfeasible. In its role as overseer of the burgeoning US$650 billion swaps market — a designation assigned by the US Dodd-Frank Wall Street Reform Act — the CFTC […]
Global LEIs: A ‘Virtual’ Turn of Events?
With little information emerging from the Regulatory Oversight Committee (ROC) on how a central operating unit (COU) would work as part of a global initiative for new identification codes for business entities, market consensus appears to have emerged suggesting a virtual model for data distribution is the best way to move forward. Under such a […]
FATCA: How to Reduce Ops Risk
At the core of FATCA is the need for foreign financial intermediaries to know and report whether securities accounts are owned by US persons who are deliberately trying to avoid paying their correct share of US taxes.In fulfilling the rules of FATCA, the US legislation designed to catch US tax evaders, financial firms would be […]