Have we sufficiently protected our proprietary source codes?That is the question chief compliance officers, general counsel, and technology directors at Wall Street powerhouses should know how to answer if they want to avoid the fate of Headlands Technologies LLC (HT) , a global quantitative trading firm in the midst of civil and criminal litigation involving a former employee. In 2021 HT's … [Read More...]
News You Can Use
Twenty-Four Hour Trading: Corporate Actions Snafu?
With 24-hour trading on US exchanges closer to becoming a reality, back-office operations managers at some US broker-dealers are starting to worry about possible glitches processing corporate actions.Twenty-four-hour trading doesn't mean 24 hours literally. It only means that there will be longer after-hours trading with a short trading halt of about an hour. The regular trading hours of … [Read More...]
Europe’s Artificial Intelligence Act Needs Real Action
Financial firms across the globe will likely have to think out of the box and pray they make the right AI governance strategy to comply with Europe's Artificial Intelligence Act (AI Act) over the next two years.Embracing AI's ability to reduce operating costs and increase efficiency the financial services industry is expected to spend up to US$79 billion developing and using the new technology … [Read More...]
Drug Cartels As Foreign Terrorists: AML Spotlight
US President Donald Trump's decision in January to classify drug cartels as foreign terrorist organizations and specially designated global terrorists has put anti-money laundering compliance executives at US financial institutions doing business in Latin America on high alert when it comes to their AML programs.Based on the US Department of State including eight drug cartels on the FTO and … [Read More...]
Featured Posts
SEC: Clear Path For Crypto Asset Custody?
The US Securities and Exchange Commission's decision last year to fine Galois Capital for violating its custody rule as well as potential changes to that regulation under the new crypto-friendly Trump administration are fueling speculation about whether one of … [Read More]
Business of Human Rights in New EU Reg
Oversight of third-party vendors will soon take on a new human rights twist for many local and foreign financial firms doing business in the European Union thanks to the new Corporate Sustainability Due Diligence Directive.The European legislation, … [Read More]
SEC Exams 2025: T+1 Post-Mortem?
T+1 settlement isn't over for the US Securities and Exchange Commission.Chief compliance officers at US fund management firms and broker-dealers must be prepared to show how they are meeting the challenge of a one-day settlement cycle, otherwise known as … [Read More]
SEC’s Short Sale Reporting Rule Comes Up Short
Fund management firms, soon required to report their short sale positions with the US Securities and Exchange Commission, could end up scrambling at the last minute to make the necessary operational changes while praying the regulatory agency agrees with their … [Read More]
BNY Hit With Final US$11M Fine For SS&C Contract Breach
SS&C Technologies Canada Corp. has won only US$11 million instead of the US$890 million it wanted, but it still scored a final moral victory against Bank of New York Mellon for violating the terms of its market data contract with the financial technology … [Read More]