Let’s face it. Consumers aren’t eager to pay sales taxes, but neither are retailers eager to charge and collect them. Taxes not only raise prices and potentially reduce the number of sales made, but tax collection also creates operational and technological burdens to administer. Now imagine operations and IT specialists across the globe having to […]
Monitoring Proxy Advisory Firms: A New Compliance Challenge?
Proxy advisory firms are supposed to help fund managers decide how to vote their shares in annual or other corporate meetings and even cast votes for them. But that doesn’t mean fund managers should just let them do all the work and forget about it. Apparently that’s what the US Securities and Exchange Commission thinks […]
Countdown to AIFMD: Addressing the New Risk Management Landscape
With the deadline for fund managers to apply for regulatory recognition as alternative investment fund managers (AIFMs) less than a week away, one would think they have already crossed their T’s and dotted their I’s when it comes to being prepared. But that’s not the case for many, according to industry research. Surprisingly, most small […]
BNP Paribas $9B Fine: Dirty Messages and Dirty Money
Motive, means and opportunity. Those are the three elements that criminal prosecutors look for, when setting up a criminal conviction. In a case involving BNP Paribas (BNPP) — the largest bank in France and the fifth largest in the world — prompting US$8.97 billion in fines and a guilty plea to a criminal charge in a […]
Collateral Management: Is Access Really King?
When it comes to managing collateral, fund managers can just forget about all the doomsday talk of a shortfall. online dating over 50 There is enough to go around — and to fulfill a multitude of regulatory requirements — if only it could be easier to access it. Or so says a new study supported […]
EMIR: Gaining Control of Old Errors and New Requirements
EMIR, it’s short for European Market Infrastructure Regulation. sydney sweeney sextape It has also become a four-letter word for fund managers struggling to fulfill reporting requirements. About five months after the effective date for fund managers and broker dealers to send details of trades executed on exchange-listed and over-the-counter swap transactions to recognized trade repositories, fund managers are […]
Phone Monitoring Records: Mining for Profit?
Three years after the UK’s Financial Conduct Authority (FCA) began requiring financial firms to record all mobile phone communications related to securities transactions, compliance remains dangerously weak. “Financial firms need to start thinking about just how they will comply and what additional benefits they can obtain for the costs involved,” says Rik Turner, senior analyst at […]
FINRA’s CARDS: Time to Get Ready
jordana brewster nude Skylar The US Financial Industry Regulatory Authority’s proposal to collect megatons of customer account information is far from being implemented, but behind the scenes, operations, technology and data management specialists are rushing to make the necessary preparations for the first phase expected in 2015. The reason: despite all the lobbying against the initiative […]
FATCA Responsible Officers: Be Careful, Very Careful
You’ve just been named by your financial firm as a responsible officer under the US Foreign Account Tax Compliance Act, or FATCA for short. Should you hand in your two-week notice, take the job in stride, or brace– and protect yourself — from hefty operational and legal liabilities? Those are the decisions and options now faced by potential FROs, or thousands of […]
Europe’s Consolidated Tape: Reality or Pipedream?
While the European Parliament has finally voted its support for the new version of the Markets in Financial Instruments Directive (MiFID), one of its most controversial goals — establishing a central source of post-trade prices from regulated markets — is still far from fruition. The new MiFID mandate may include some stepping-stone dates, but the language of […]