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New IDs for Digital Assets: FIGIs or ISO-Backed Codes?

February 22, 2021 By Chris Kentouris Leave a Comment

Does the financial services industry need more than one identification standard for digital assets? Can standards for identifying traditional assets even apply for the digital asset market? Those are the two questions trading, compliance and operations managers at fund management firms, custodians, exchanges, and issuers of digital tokens will soon answer now that they have […]

Filed Under: Blockchains, Compliance, Crypto, Data, Middle Office Ops, Regulators, Standards Tagged With: Blockchain, Compliance, Crypto, Data, Middle Office Ops, Regulators, Standards

Want to be AML Whistleblower? Not So Fast

January 25, 2021 By Chris Kentouris Leave a Comment

You work in the anti-money laundering department of a major bank or brokerage and overhear a conversation about how suspicious activity reports are not being filed on a particular client; how the transaction monitoring system is not working properly; or how wire transfers are being made to a country or individual on a US sanctions […]

Filed Under: Regulations, Regulators, Risk, Rules Tagged With: AML, Compliance, Data, Regulators, SEC

Operational Resilience 2021: The Human Factor

December 29, 2020 By Chris Kentouris Leave a Comment

Operational resilience will replace business continuity as the mantra for operations, IT and risk managers at fund management firms, banks and brokers in 2021 requiring a whole new combination of procedures, human interactions and even a bit of technology spend. Operational resilience goes far beyond business continuity. “Operational resilience takes a much broader approach to […]

Filed Under: Analytics, Compliance, Data, Regulators, Risk, Risk Tagged With: Brokerage Ops, Compliance, Data, Fund Ops, Investment Ops, Post-Trade, Regulators, Risk

Fund Middle Office 2021: Year of Fair Valuation

December 14, 2020 By Chris Kentouris Leave a Comment

Middle-office accounting managers at US fund management firms will likely be talking a lot more in 2021 with C-level management,  third party valuation agents, and boards of directors to figure out  just what the terms fair and material mean when it comes to pricing non-exchange traded assets in their portfolios following the Securities and Exchange […]

Filed Under: Compliance, Data, Funds, Regulations, Regulators Tagged With: Compliance, Fund Ops, Investment Ops, Middle Office, Operational Risk, Reporting, SEC, Valuation

Blockchain Attorney Klayman Battles MoFo Over Blocked Partnership

November 24, 2020 By Chris Kentouris Leave a Comment

Did Joshua Ashley Klayman, one of the US’ top blockchain attorneys, cost herself a partnership in a prominent global law firm, because she chose to focus on the novel field of blockchain and smart contracts, because was female, or because she got pregnant and took three maternity leaves? Those are among the many questions that […]

Filed Under: Compliance, Financials, Innovation, Risk Tagged With: Blockchain, Compliance, Crypto, Innovation

Wells Fargo’s Comp Plan: Will SEC’s Ops Rules Hurt Investors?

November 2, 2020 By Chris Kentouris Leave a Comment

The US Securities and Exchange Commission’s plan for how investors in Wells Fargo’s stock will be compensated a total of US$500 million for the bank’s past wrongdoing could end up marred in operational snafus making it harder for some investors to be paid and disincentivizing others from filing the paperwork to collect any compensation. That’s […]

Filed Under: Compliance, FundOps, Funds, Rules Tagged With: Compliance, Data, Fund Ops, Outsourcing, Regulations, Regulators, SEC

FREE WEBINAR: The Crypto Asset Market: What Fund Managers Should Know Before Investing

October 13, 2020 By Chris Kentouris Leave a Comment

Hosted by CrossTower Save the Date: November 4, 2020 Time: 4:30 PM EST Contact: events@crosstower.com Cryptoassets aren’t just for retail investors any more. Hedge fund managers and some traditional fund managers have been buying Bitcoin and other cryptocurrencies as a buffer against inflation and market volatility has led to far higher returns on investment for […]

Filed Under: Compliance, Investments, Investors, Rules, SEC, Sec Lending Tagged With: Blockchain, Compliance, Crypto, Fund Ops, SEC

AML Managers Question FinCEN’s New Effectiveness Test

October 7, 2020 By Chris Kentouris Leave a Comment

Define effectiveness. That’s what anti-money laundering compliance directors and legal experts want the US Treasury’s Financial Crimes Enforcement Network (FinCEN) to do after it announced late last month that it would update regulations issued under the Bank Secrecy Act (BSA). “Does anybody know what effective means?” was the question posed by over a dozen AML […]

Filed Under: Compliance, Regulations, Rules Tagged With: AML, Compliance, KYC, Reporting

SEC Fines Northern Trust for Not Stopping Criminal Hedge Fund Manager

September 27, 2020 By Chris Kentouris Leave a Comment

The US Securities and Exchange Commission’s recent US$152,553 fine against mega hedge fund administrator Northern Trust provides a clear sign the regulatory agency will continue to hold a service provider accountable for any wrongdoing committed by its client if the SEC thinks it could have prevented the bad apple’s actions. The New York headquartered L-R […]

Filed Under: Compliance, Financials, Funds, Investments, Investors Tagged With: Compliance, Hedge Funds, Outsourcing, Regulators, SEC, Valuation

Free Webinar: Consolidated Audit Trail: Creating the Right Data Linkages

September 17, 2020 By Chris Kentouris Leave a Comment

Join S3 and FinOps Report for a free webinar on creating the right data linkages for reporting to the Financial Industry Regulatory Authority’s Consolidated Audit Trail. Sponsored by S3 Save the date: Wednesday, October 21, 2020 Time: 4:30PM EST Contact: Michelle Lindenberger, S3 media/PR manager, at lindenberger.michelle@gmail.com for free dial-in details For broker-dealers’ trade operations, regulatory reporting, […]

Filed Under: Compliance, Data, Reporting, Risk Tagged With: Compliance, Data, FINRA, Regulators, Reporting, SEC, Standards

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