The US Securities and Exchange Commission’s decision to broadly define what makes a trade execution discretionary will force introducing and executing brokers to walk a thin tightrope when complying with its new Rule 606. They will have to make some tough choices on how much information the executing broker can release on a trade order […]
Free Webinar: Six Practices to the Best Cyber Defense From Hackers and Regulators
Is your IT team overwhelmed keeping your network/cloud safe from sophisticated hackers? Are your C-suite executives struggling to keep regulators and customers satisfied all confidential data and assets are properly protected? Tony Pietrocola, president of Agile1, has devised six proven practices to mitigate the chance your organization will become the next cyberattack headline, forced to […]
IRS: Get Your Data Right on FATCA and QI Certifications (Or Else)
The US Internal Revenue Service is turning tax operations and compliance departments into data and paperwork geeks when it comes to meeting their requirements for FATCA and QI. Did your tax operations department withhold the correct amount of tax for the right account and file the form correctly by deadline? That’s what an IRS auditor […]
Cryptoasset Valuation: Fair Value or Fair Game?
Fair value– the term used by accountants to refer to the correct valuation of assets for financial reporting purposes — shouldn’t be taken at face value by fund managers or investors when comes to cryptoassets. Anyone who comes to the table unprepared for a potential dispute is foolish as shown in a recent lawsuit involving […]
Unique Product IDs: Next Challenge for Swaps Reporting
Data operations, trade desk and regulatory reporting managers may soon have gear up for new administrative tasks — and potentially extra fees– when reporting their over-the-counter derivatives transactions to trade repositories using unique product identifiers. The UPIs mark the latest in an array of codes financial firms and trading platforms must use to describe the […]
SS&C’s Win of Trade Secrets Suit Highlights Hiring Risks
SS&C Technologies’ recent US$44 million jury verdict in a lawsuit against Clearwater Analytics has put Wall Street’s legal and human resource managers on alert to protect their firms from the receipt of trade secrets when hiring key employees from the competition. “HR and legal departments are a company’s first line of defense against litigation from […]
Free Webinar: Eight Steps to Manage Third-Party CyberRisk
Join FinOps Report (www.finopsinfo.com) for a FREE educational webinar on Managing Third Party CyberRisk: A Best Practice Approach Date: June 4, 2019 Time: 430PM to 530PM EST Interviewer: Chris Kentouris, Editor and Founder of FinOps Report Panelist: Joanna Fields, Managing Principal of Aplomb Strategies For dial-in information please contact Chris.Kentouris@hotmail.com You cannot have the best […]
Crypto-Miners: Are They Broker-Dealers or Math Geeks?
If it quacks like a duck, it’s a duck, right. But does it quack? That’s the question broker-dealer Templum Markets has raised to the US Securities and Exchange Commission about crypto-miners which has polarized the crypto-community into deciding whether they should be regulated as broker-dealers. Fueling the debate are conflicting interpretations of the Securities and […]
SEC to Transfer Agents: Clean Up Your Operations
Broker-dealers and banks aren’t the only ones running off with customer monies. The US Securities and Exchange Commission is cracking the whip on shareholder recordkeepers for doing the same. Misappropriation of issuer and investor funds was one of the two major operational deficiencies the US regulatory agency’s Office of Compliance Inspections and Examinations says it […]
Swaps Margin: The Final Sweep of Document and Ops Morass
For collateral management operations and IT managers at hundreds of small to mid-sized broker -dealers and fund managment shops the nightmare of handling the new regulatory-imposed initial margin requirements for uncleared derivative contracts has just begun. Phase four of the US and non-US regulations, effective September 2019, and the ultimate phase five version, effective September […]