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 […]
Hedge Funds: Proactive Operational Risk, Finally
Failed trade settlements, bad valuations, bad reconciliations, shoddy vendor management and simple forgetfulness. These glitches aren’t new for hedge fund managers. What is new is that they are turning to management and technology consultants for help. As regulators, such as the US Securities and Exchange Commission, look under the hood during exams and investors become […]
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 […]
SEC’s New Rule 606: Execution Transparency At a Cost
For brokerage trade operations, compliance and IT managers, giving fund managers a lot more details about where and how their trades were executed to fulfill the US Securities and Exchange Commission’s enhancements to Rule 606 could turn into a major operational headache. At issue is how much data broker-dealers have readily available, how much they […]
Europe’s SFTR: Coming to US Shores?
US securities finance operations and compliance managers had better brace themselves for a US version of Europe’s Securities Finance Transaction Regulation (SFTR), caution industry consultants and market practicioners. So far, US post-trade operations and compliance managers have been spared from dealing with a US equivalent to the onerous SFTR. However, they shouldn’t be lulled into a […]
Reg Compliance 2019: Tips to Ease Data Pain
When it comes to handling the data challenges inherent in regulatory compliance, 2019 will no exception for middle and back-office buy and sell-side operations, compliance and technology managers. While the rules of MIFID II and EMIR likely took up much of their attention over the past few years, a survey of about fifty operations, compliance […]