They look like derivatives contracts, but act like gambling bets. They are prediction contracts-- one of the fastest growing trading sectors despite conflicting regulatory frameworks, no clearcut taxation rules, unique operating policies, and rumors of insider trading.A 2025 Keyrock-Dune analysis of the global prediction market industry puts Polymarket, operating strictly overseas at the time, … [Read More...]
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EU’s DORA 2.0: EBA’s Third-Party Risk Management Gone Awry?
Equivalent doesn't mean identical when it comes to the European Banking Authority's proposal to mandate financial firms doing business on the Continent to adopt an overlapping risk management framework to the newly effective DORA for a greater number of third-party service providers.Compliance, legal, risk management and IT directors fear that following two sets of quasi-similar rules will be … [Read More...]
Outlook 2026: CCOs Worry Over Supreme Court Ruling on Disgorgement
Chief compliance officers (CCOs) at U.S. financial firms need to keep a close eye this year on what the Supreme Court decides about when and how the Securities and Exchange Commission (SEC) should impose disgorgement of illegal profits from violations of securities laws.The high court's final say on the matter could either spell a lot more angst for CCOs or a sigh of relief by resolving a … [Read More...]
CISOs Scurry to Prepare for DTCC’s Approved Two-Hour Cyberbreach Notification
The U.S. Securities and Exchange Commission's unexpected approval of a two-hour window for participants of Depository Trust Company (DTC), National Securities Clearing Corp. (NSCC) and Fixed Income Clearing Corp. (FICC) to notify the market infrastructures of a potential cybersecurity breach or other data outage has chief information security officers (CISOs) and others at U.S. broker-dealers and … [Read More...]
Featured Posts
2026: The Year of the Roth Retirement Accounts
Contributing to a Roth Individual Retirement Account (Roth IRA) or other Roth-based retirement account will be one of their top resolutions for 2026, U.S. compliance, operations and technology managers at Wall Street's fund management firms and wirehouses told … [Read More]
Fund CCOs Grapple With SEC’s New Cryptocustody Stance
Chief compliance officers (CCOs) at registered investment advisers (RIAs) investing in cryptoassets shouldn't take the recent no-action letter (NAL) from the U.S. Securities and Exchange Commission (SEC) allowing them to select state-chartered trust companies … [Read More]
FASTER Refunds for EU Withholding Taxes
Operations managers at custodian banks, broker-dealers, and other financial intermediaries, will soon face new administrative challenges and legal liability to secure quicker refunds of excess withholding taxes paid by investors in cross-border transactions … [Read More]
DTCC Prepares Wall Street For New Cyberbreach Rule
Cybersecurity information security officers (CISOs) at U.S. broker-dealers and banks may soon need to overhaul their governance programs if the Depository Trust & Clearing Corporation (DTCC) has its way.US financial firms are in a logjam with DTCC's … [Read More]
Canada’s High Court to Rule on SS&C’s Spoilation Against BNY
"Failure to preserve and produce relevant documents is conduct worthy of censure" wrote Justice William Hourigan of the Court of Appeal for Ontario in the court's scathing September 2024 ruling against The Bank of New York Mellon Corporation, now called BNY, … [Read More]